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Securities Report Renault

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Securities Report Renault 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, 2014 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, 2014 Fiscal Year: From January 1, 2013 to December 31, 2013 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 & Tsunematsu Kioicho Building, 3-12, Kioicho, Chiyoda-ku, Tokyo Telephone Number: 03-3288-7000 Name of Person to Contact: Yoshihiko Sakai, Attorney-at-law Ippei Nishiuchi, Attorney-at-law Place to Contact: Nagashima Ohno & Tsunematsu Kioicho Building, 3-12, Kioicho, Chiyoda-ku, Tokyo Telephone Number: 03-3288-7000 Place(s) of Public Inspection: Not applicable TABLE OF CONTENTS PART I CORPORATE INFORMATION 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 ............................................................................................................. 22 II. OUTLINE OF THE COMPANY ............................................................................................ 23 1. Development of Major Managerial Index, etc. ............................................................ 23 2. History .......................................................................................................................... 26 3. Contents of Business .................................................................................................... 31 4. Statement of Related Companies ................................................................................. 63 5. Statement of Employees ............................................................................................... 69 III. STATEMENTS OF BUSINESS ............................................................................................. 75 1. Outline of Results of Operation, etc. ............................................................................ 75 2. Statement of Production, Orders Accepted and Sales .................................................. 92 3. Problem(s) to be coped with......................................................................................... 92 4. Risks in Business, etc. .................................................................................................. 92 5. Important Contracts Relating to Management, etc. .................................................... 117 6. Research and Development Activities ....................................................................... 117 7. Analysis of Financial Condition, Operating Results and State of Cash Flow ............. 118 – i – IV. STATEMENTS OF FACILITIES ........................................................................................ 123 1. Outline of Capital Investment, etc. ............................................................................. 123 2. Statement of Principal Facilities ................................................................................ 123 3. Plan for Construction, Removal, etc. of Facilities ..................................................... 123 V. STATEMENTS OF THE COMPANY ................................................................................. 123 1. Statements of Shares, etc. ........................................................................................... 123 2. Policy of Payment of Dividends ................................................................................. 126 3. Development of Stock Price ....................................................................................... 126 4. Statement of Officers ................................................................................................. 127 5. State of Corporate Governance .................................................................................. 166 VI. FINANCIAL CONDITION .................................................................................................. 190 1. Financial Statements .................................................................................................. 191 2. Details of Major Assets and Liabilities ...................................................................... 314 3. Other ....................................................................................................................... 314 4. Differences between IFRS and Japanese GAAP ........................................................ 318 VII. MOVEMENT OF FOREIGN EXCHANGE QUOTATION ................................................ 325 VIII. OUTLINE OF HANDLING OF SHARES, ETC. OF THE COMPANY IN JAPAN ......................................................................................... 325 IX. REFERENCE INFORMATION RELATING TO THE COMPANY .................................. 325 PART II INFORMATION CONCERNING GUARANTOR, ETC. OF THE COMPANY ...............................................................................326 AUDITORS’ REPORT .....................................................................................................327 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 February 21, 2014 was EUR 1 = JPY142.12. 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. – ii – 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 are Société Anonyme form for larger scale companies and Société à Responsabilité Limitée form for smaller scale companies. The legal framework applicable to such companies is the French Commercial Code. The following is a summary of the major provisions applicable to Sociétés Anonymes (hereinafter referred to as an “SA”) under the French Commercial Code modified pursuant to a law dated May 15, 2001 titled N.R.E (“Nouvelles Régulations Economiques”), a law dated August 1st, 2003 titled "Loi de Sécurité Financière", an ordinance dated June 24, 2004, a law dated July 26, 2005, titled “Loi pour la confiance et la modernisation de l’économie, and the law dated August, 4th, 2008 titled LME (Loi de modernisation de l’économie), an Ordinance dated December 9, 2010 transposing the European Directive 2007/36 on the rights of the shareholders of the listed companies and a law dated March 22, 2012 titled "Loi de simplification du droit et d'allègement des démarches administratives" ("Loi Warsman II"). Upon the incorporation of an SA, the By-laws shall be prepared by the promoter(s) and signed by the initial shareholders. Such By-laws shall be filed with the Secretary of the Commercial Court, at which the SA is registered. The status of a legal entity can be obtained only when a registration certificate is issued by the Secretary of the Commercial Court. The By-laws is a document which provides for the basic rules governing the SA. Shareholders A société anonyme is a corporation composed of at least seven shareholders created for a commercial purpose. The shareholders of an SA are subject to liability for the debts of the corporation only to the extent of their capital contributions thereto. The shareholders are vested the ultimate power over the SA. It is the shareholders who appoint the directors and the Independent Auditor (commissaire aux comptes) of the corporation, who declare dividends, who approve the financial statements, who may decide to dissolve the corporation and who authorize any modification of the registered capital, as well as any other amendments of the By-laws. Capital Stock Subject to certain exceptions, the registered capital of the SA may not
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