Atsushi Muramatsu is finding it hard keeping his colleagues off his back. As Nissan Motor Co.'s finance director, his job is to wade through capital spending requests and keep this year's budget at $2 billion, down 18% from last year. "I'm trying to stall everyone," he says, especially those asking for things such as new office air-conditioning and remodeling. But Nissan is far from stingy when it comes to seeking future business. "We will defer some capital investment but not when it comes to product development or environment-related technology," says Nissan President Yutaka Kume. For example, he is charging up investment in electric-car and battery research, including the FEV, or future electric vehicle, on display at the Tokyo International Motor Show this month. He hopes the FEV will be on the market within four to five years.