Nissan Motor on Friday said it has set up two subsidiaries in Singapore to enhance its operations in the Association of Southeast Asian Nations (ASEAN) region.

Nissan Motor on Friday said it has set up two subsidiaries in Singapore to enhance its operations in the Association of Southeast Asian Nations region.

Nissan Asia Pacific Pte. Ltd. serves as Nissan's ASEAN headquarters to supervise business functions throughout the region while Nissan International Finance Singapore Pte. Ltd. is the automaker's treasury centre that oversees both Asian and Oceania markets, Kyodo News reported.

Nissan reportedly said it sold 76,345 vehicles in the four major ASEAN countries - Thailand, Malaysia, Indonesia and the Philippines - in the fiscal year to March 2004, up 7.9% from the previous year.

According to Kyodo News, the company said it plans to further develop its ASEAN business under a new three-year business plan that will start in April and emphasise expansion of its global presence.