Securities Report Renault
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SECURITIES REPORT 1. This document is a printed copy, with table of contents and page numbers inserted, of the data of the Securities Report under Article 24, Paragraph 1 of the Financial Instruments and Exchange Law filed on May 15, 2015 through Electronic Disclosure for Investors’ Network (EDINET) provided for in Article 27-30-2 of such Law. 2. The documents attached to the Securities Report filed as stated above are not included herein. However, a copy of the audit report is attached at the end hereof. RENAULT (E05907) (TRANSLATION) Cover Page Document Name: Securities Report Based on: Article 24, Paragraph 1 of the Financial Instruments and Exchange Law Filed with: The Director General of Kanto Local Finance Bureau Filing Date: May 15, 2015 Fiscal Year: From January 1, 2014 to December 31, 2014 Corporate Name: Renault Name and Title of Representative: Carlos Ghosn Chairman and Chief Executive Officer Location of Head Office: 13-15, Quai Le Gallo, 92100 Boulogne-Billancourt France Name of Attorney-in-fact: Takashi Tsukioka, Attorney-at-law Address of Attorney-in-fact: Nagashima Ohno & TsunematsuJP Tower, 2-7-2 Marunouchi, Chiyoda-ku, Tokyo Telephone Number: 03-6889-7000 Name of Person to Contact: Yoshihiko Sakai, Attorney-at-law Tatsuya Hasegawa, Attorney-at-law Place to Contact: Nagashima Ohno & TsunematsuJP Tower, 2-7-2 Marunouchi, Chiyoda-ku, Tokyo Telephone Number: 03-6889-7000 Place(s) of Public Inspection: Not applicable TABLE OF CONTENTS PART I CORPORATE INFORMATION ...................................................................................................................... - 1 - I. SUMMARY OF LAWS AND REGULATIONS IN THE COUNTRY TO WHICH THE COMPANY BELONGS............... - 1 - 1. SUMMARY OF CORPORATE SYSTEM, ETC. ...................................................................................................................................................... - 1 - 2. FOREIGN EXCHANGE CONTROL SYSTEM: .................................................................................................................................................... - 16 - 3. TAXATION: - 21 - 4. LEGAL OPINIONS .......................................................................................................................................................................................... - 23 - II. OUTLINE OF THE COMPANY ................................................................................................................................... - 24 - 1. DEVELOPMENT OF MAJOR MANAGERIAL INDEX, ETC.: .............................................................................................................................. - 24 - 2. HISTORY: - 27 - 3. CONTENTS OF BUSINESS: ............................................................................................................................................................................. - 31 - 4. STATEMENT OF RELATED COMPANIES ............................................................................................................................................................ 69 5. STATEMENT OF EMPLOYEES:........................................................................................................................................................................... 76 III. STATEMENTS OF BUSINESS ........................................................................................................................................ 82 1. OUTLINE OF RESULTS OF OPERATION, ETC.: .................................................................................................................................................. 82 2. STATEMENT OF PRODUCTION, ORDERS ACCEPTED AND SALES: ................................................................................................................... 94 3. PROBLEM(S) TO BE COPED WITH: ................................................................................................................................................................... 94 4. RISKS IN BUSINESS, ETC. .................................................................................................................................................................................. 94 5. IMPORTANT CONTRACTS RELATING TO MANAGEMENT, ETC.: ...................................................................................................................... 118 6. RESEARCH AND DEVELOPMENT ACTIVITIES ................................................................................................................................................. 118 7. ANALYSIS OF FINANCIAL CONDITION, OPERATING RESULTS AND STATE OF CASH FLOW ........................................................................... 131 IV. STATEMENTS OF FACILITIES ..................................................................................................................................... 135 1. OUTLINE OF CAPITAL INVESTMENT, ETC. ..................................................................................................................................................... 135 2. STATEMENT OF PRINCIPAL FACILITIES ......................................................................................................................................................... 136 3. PLAN FOR CONSTRUCTION, REMOVAL, ETC. OF FACILITIES ........................................................................................................................ 136 V. STATEMENTS OF THE COMPANY .............................................................................................................................. 136 1. STATEMENTS OF SHARES, ETC. ...................................................................................................................................................................... 136 2. POLICY OF PAYMENT OF DIVIDENDS: ........................................................................................................................................................... 139 3. DEVELOPMENT OF STOCK PRICE: ................................................................................................................................................................. 140 4. STATEMENT OF OFFICERS: ............................................................................................................................................................................ 140 5. STATE OF CORPORATE GOVERNANCE, ETC. .................................................................................................................................................. 178 VI. Financial Condition: ........................................................................................................................................................ 210 1. FINANCIAL STATEMENTS ............................................................................................................................................................................... 211 2. DETAILS OF MAJOR ASSETS AND LIABILITIES ............................................................................................................................................ - 312 - 3. OTHER - 312 - 4. DIFFERENCES BETWEEN IFRS AND JAPANESE GAAP ................................................................................................................................ - 316 - VII. MOVEMENT OF FOREIGN EXCHANGE QUOTATION ................................................................... - 323 - VIII. OUTLINE OF HANDLING OF SHARES, ETC. OF THE COMPANY IN JAPAN ............................... - 323 - IX. REFERENCE INFORMATION RELATING TO THE COMPANY ............................................................................. - 323 - 1. INFORMATION OF PARENT COMPANY, ETC. OF FILING COMPANY ........................................................................................................... - 323 - 2. OTHER REFERENCE INFORMATION ........................................................................................................................................................... - 323 - PART II INFORMATION CONCERNING GUARANTOR, ETC. OF THE COMPANY ............................................ - 324 - AUDITORS’ REPORT ................................................................................................................................................ - 325 - Note (1) Unless otherwise specified herein, the “Company”, “Renault”, “Renault SA” or “Renault S.A.” refers to Renault, and the “Group”, the “Renault Group” refers to Renault and all of its consolidated subsidiaries. Note (2) Unless otherwise specified herein, the reference to “Euro”, “€” and “EUR” are to the lawful currency of European Union and French Republic. The telegraphic transfer for selling Euro against yen quoted by The Bank of Tokyo-Mitsubishi UFJ, Ltd. as of April 3, 2015 was EUR 1 = JPY131.54. Any conversions made herein from the Euro amounts into Japanese yen was made at this exchange rate for conversion convenience purposes only and should not be deemed a representation of future exchange rates. Note (3) Where figures in tables in this document have been rounded, the totals may not necessarily be the aggregate of the sum of the relevant figures. – i – PART I CORPORATE INFORMATION I. SUMMARY OF LAWS AND REGULATIONS IN THE COUNTRY TO WHICH THE COMPANY BELONGS 1. SUMMARY OF CORPORATE SYSTEM, ETC. (1) CORPORATE SYSTEM IN THE COUNTRY OR STATE TO WHICH RENAULT BELONGS: One of the most often used forms of limited liability companies