Tuesday , January 26 2021

Nissan makes public its own criminal charges



Yokohama – Nissan Motor Co. reported to his own boss, Carlos Ghosn, at the Tokyo Prosecutor’s Office with three criminal charges he made the chairman The company was arrested on Monday (11/19).

At the press conference on the same day, Nissan CEO Hiroto Saikawa said that the alleged violations committed by Ghosn included: reporting income below actual for financial authorities; use company investment funds for personal gain; and use company expenses is illegal.

“This is a type of action that cannot be tolerated by companies. This is a serious violation, ”said Saykava.

As the investigation continued, Saikawa said that he could not clarify further.

Ghosn has been with Nissan for 19 years and has just signed a service contract until 2022. The compensation he received was very high according to Japanese standards and has been a source of controversy in recent years.

According to NHK and Kyodo News Office, Nissan paid Ghosn nearly 10 billion yen (1.3 trillion Rupees) for five years from March 2015, including salaries and other benefits, but he reported only half of this figure.

Nissan said 64-year-old Ghosn and other senior executives Greg Kelly were accused of millions of dollars of violations known after several months of internal investigations based on a report. informantKelly is also arrested.

The company in Yokohama promised to cooperate with the prosecutor's office in the investigation of their case.

Saikawa said Ghosn was arrested after being interrogated by prosecutors as soon as he arrived in Japan on Monday. Ghosn has a mixture of France, Brazil and Lebanon and lives in Japan and France.

According to Saikawa, Nissan will hold a meeting on Thursday (11/22) to officially launch Ghosn.

Following this case, he promised to tighten internal oversight and said that it was because there was too much power in only one person.

Also read: Find out, Ghosn, Legend of the automotive industry arrested

Ghosn is officially still responsible for the CEO and the chairman strategic alliance Renault-Nissan-Mitsubishi, which last year sold more than 10 million cars and made the alliance the largest car seller in the world.

Three member companies of the alliance share the shares. Renault controls 43% of Nissan shares. Nissan has a 15 percent stake in Renault and a 34 percent stake in Mitsubishi.

As a result of this scandal, the stock price of Renault SA has fallen by more than 8 percent in France. When news of the arrest spread, the Japanese stock market was closed.

The accusations Ghosn faced were the next big blow for Nissan, who is still trying to regain its name after the company made a change in emissions test and fuel efficiency tests on cars sold in Japan.

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This scandal occurred because too much power was concentrated only on one person.

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Ghosn was praised for making a difference in Nissan, from a company that almost went bankrupt to become a profit producer, releasing thousands of people and closing factories. He is considered a hero in Japan, where foreigners are very rare cases.

His name is also legendary in France, where he can also raise Renault and make him a global player. But he is the enemy of the French leftist unions and politicians, who consider him a symbol of excessive capitalism, especially with regard to wages.

In 2016, Renault shareholders opposed the Ghosn salary package because it was considered too generous, but the board of directors ignored the vote.

This angered the then French President Francois Hollande. The socialist government of Holland set the maximum wage levels for state-owned enterprises and tried to do the same for private companies. But, finally, the government canceled its intention to fear that this would make foreign investors nervous.

Also read: Carlos Ghosn Arrested, this is Mitsubishi's answer.

Source: Japan Today, AP



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