Nissan Motor Company Ltd. announced that its board of directors has decided to spin off its Industrial Machinery Division and establish a new company, "Nissan Forklift Company Ltd.", effective October 1, 2010.

Nissan announced on May 13 that it began a study to determine the feasibility of spinning-off its Industrial Machinery Division, simultaneously starting preparations of the possible spin-off.

The aim of this spin-off is to strengthen the division's autonomy and implement a flexible management system to position the forklift business for a sustainable growth, cope with the challenging environment surrounding the forklift industry, as well as establishing an independent entity with clear responsibilities required as an enterprise.

The spin-off will have no impact on Nissan's consolidated performance.