Ousted Nissan boss Carlos Ghosn has said that he <a href="https://www.wionews.com/world/ousted-nissan-chief-carlos-ghosn-flies-to-lebanon-271146">fled to Lebanon</a> to escape the 'injustice' in Japan. Ghosn is currently on bail and his surprising escape to Lebanon has raised many questions. &nbsp;

Ghosn's lawyer Junichiro Hironaka on Tuesday described his escape as an "unexpected surprise".&nbsp;

Hironaka last met Ghosn on December 25 and said he knew nothing about his escape, adding that Ghosn's three passports were in possession of the lawyers.&nbsp;

"I will let the court know we are baffled regarding this situation. I will provide the court with any information we receive," he said as reported by news agency Reuters.

It remains a mystery how Ghosn, who holds French, Brazilian and Lebanese passports, was able to flee to Lebanon from Japan, even&nbsp;after he was under strict surveillance by Japanese authorities while out on bail and had surrendered his passports.&nbsp;

Ghosn arrived in Beirut on a private jet from Istanbul on December 30, Reuters reported.&nbsp;

After reaching Lebanon, Ghosn released a statement saying that he will no longer be a hostage by a "rigged Japanese justice system" and can now communicate with the media freely, Reuters reported.&nbsp;

Meanwhile, the Lebanese as well as the Japanese authorities claim having no information on Ghosn's escape.&nbsp;

Lebanese foreign ministry source stated that Ghosn's entry into Lebanon was legal and on a French passport, using his Lebanese ID with normal security procedures.&nbsp;

Japanese state media reported saying that a person resembling Ghosn had entered Beirut international airport but under a different name.&nbsp;

Japanese media on Wednesday slammed Ghosn's escape and called it a "cowardly" act, one that mocks Japan's justice system, news agency AFP reported.&nbsp;

(With inputs from agencies)&nbsp;

Ousted Nissan boss Carlos Ghosn has said that he fled to Lebanon to escape the 'injustice' in Japan. Ghosn is currently on bail and his surprising escape to Lebanon has raised many questions.

Ousted Nissan boss Carlos Ghosn has said that he fled to Lebanon to escape the 'injustice' in Japan. Ghosn is currently on bail and his surprising escape to Lebanon has raised many questions. Ghosn's lawyer Junichiro Hironaka on Tuesday described his escape as an "unexpected surprise". Hironaka last met Ghosn on December 25 and said he knew nothing about his escape, adding that Ghosn's three passports were in possession of the lawyers. "I will let the court know we are baffled regarding this situation. I will provide the court with any information we receive," he said as reported by news agency Reuters. It remains a mystery how Ghosn, who holds French, Brazilian and Lebanese passports, was able to flee to Lebanon from Japan, even after he was under strict surveillance by Japanese authorities while out on bail and had surrendered his passports. Ghosn arrived in Beirut on a private jet from Istanbul on December 30, Reuters reported. After reaching Lebanon, Ghosn released a statement saying that he will no longer be a hostage by a "rigged Japanese justice system" and can now communicate with the media freely, Reuters reported. Meanwhile, the Lebanese as well as the Japanese authorities claim having no information on Ghosn's escape. Lebanese foreign ministry source stated that Ghosn's entry into Lebanon was legal and on a French passport, using his Lebanese ID with normal security procedures. Japanese state media reported saying that a person resembling Ghosn had entered Beirut international airport but under a different name. Japanese media on Wednesday slammed Ghosn's escape and called it a "cowardly" act, one that mocks Japan's justice system, news agency AFP reported. (With inputs from agencies)

'Unexpected surprise': Nissan boss Carlos Ghosn flees to Lebanon, Japan calls it 'cowardly' act  

Ousted Nissan chief Carlos Ghosn confirmed on Tuesday that he is in Lebanon and would now no longer be held hostage by a a rigged "Japanese justice system".&nbsp;

"I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied," Ghosn said in a statement.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/one-year-after-arrest-ghosn-seeks-to-throw-out-case-against-him-262666">One year after arrest, Ghosn seeks to throw out case against him</a>

Former Nissan chief was seen in the Lebanese capital Beirut on Monday, raising questions about how one of the world's most prominent businessmen left Japan before his trial.&nbsp;

It was reported that Ghosn holds French, Brazilian and Lebanese passports.&nbsp;

A Lebanese security source said that Ghosn arrived in Beirut Monday, adding: "It's unclear how he left Japan."

Another source said that Ghosn will come up with a statement soon.&nbsp;

The former Nissan president is facing a trial in Japan for multiple charges of financial misconduct and is currently on bail.&nbsp;

Ghosn and his lawyers have repeatedly raised concerns of the impossibility of a fair trial in Japan and have called for the rejection of the case, citing mis-steps by the prosecutors' office.&nbsp;

"Carlos Ghosn is not looking to flee his responsibilities, but he's fleeing the injustice of the Japanese system," a source closely involved with the case said.&nbsp;

As per reports from Lebanese media, Ghosn took a private plane from Turkey to reach Lebanon, where his parents were born and where he spent most of his childhood after arriving there as a toddler.&nbsp;

Ghosn's lawyers declined to comment on Ghosn's arrival to Beirut.&nbsp;

Japan's justice ministry said that the country does not have an extradition agreement with Lebanon, which means Ghosn could not be forced to return to Tokyo to face trial.

(with inputs from agencies)&nbsp; 
&nbsp;

Ousted Nissan chief Carlos Ghosn confirmed on Tuesday that he is in Lebanon and would now no longer be held hostage by a a rigged "Japanese justice system". "I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied," Ghosn said in a statement.

Ousted Nissan chief Carlos Ghosn confirmed on Tuesday that he is in Lebanon and would now no longer be held hostage by a a rigged "Japanese justice system". "I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied," Ghosn said in a statement. Also read: One year after arrest, Ghosn seeks to throw out case against him Former Nissan chief was seen in the Lebanese capital Beirut on Monday, raising questions about how one of the world's most prominent businessmen left Japan before his trial. It was reported that Ghosn holds French, Brazilian and Lebanese passports. A Lebanese security source said that Ghosn arrived in Beirut Monday, adding: "It's unclear how he left Japan." Another source said that Ghosn will come up with a statement soon. The former Nissan president is facing a trial in Japan for multiple charges of financial misconduct and is currently on bail. Ghosn and his lawyers have repeatedly raised concerns of the impossibility of a fair trial in Japan and have called for the rejection of the case, citing mis-steps by the prosecutors' office. "Carlos Ghosn is not looking to flee his responsibilities, but he's fleeing the injustice of the Japanese system," a source closely involved with the case said. As per reports from Lebanese media, Ghosn took a private plane from Turkey to reach Lebanon, where his parents were born and where he spent most of his childhood after arriving there as a toddler. Ghosn's lawyers declined to comment on Ghosn's arrival to Beirut. Japan's justice ministry said that the country does not have an extradition agreement with Lebanon, which means Ghosn could not be forced to return to Tokyo to face trial. (with inputs from agencies)

Ousted Nissan chief Carlos Ghosn confirms he is in Lebanon

Focused on profitability, the Japanese auto major Nissan has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits.

The penny-pinching drive is in place for the rest of the financial year until end-March and will most likely continue into the coming business year.

According to reports, managers have been told to put the kibosh on unnecessary travel, sales incentives and promotional events to “conserve every yen."

Meetings that three or four people would once have travelled to attend in person, might now only have one Nissan representative.

The extensive spending cuts come in tandem with Nissan’s decision this month to order a two-day furlough for US Employees January &nbsp;2-3. There is also an effective travel ban for staff in the United States, where sales have been particularly hard hit.

Focused on profitability, the Japanese auto major Nissan has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits.

Focused on profitability, the Japanese auto major Nissan has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits. The penny-pinching drive is in place for the rest of the financial year until end-March and will most likely continue into the coming business year. According to reports, managers have been told to put the kibosh on unnecessary travel, sales incentives and promotional events to “conserve every yen." Meetings that three or four people would once have travelled to attend in person, might now only have one Nissan representative. The extensive spending cuts come in tandem with Nissan’s decision this month to order a two-day furlough for US Employees January 2-3. There is also an effective travel ban for staff in the United States, where sales have been particularly hard hit.

Japanese auto major Nissan orders drastic spending cuts

Japan's markets watchdog will likely recommend soon that the financial regulator fine Nissan Motor Co Ltd about 2.4 billion yen ($22 million) over false reporting on its financial statement, public broadcaster NHK reported on Sunday.

Nissan's former Chairman Carlos Ghosn was arrested in Tokyo in November last year over allegations of financial misconduct, including understating his salary by around 9.1 billion yen ($84.71 million) over a period of nearly a decade and temporarily transferring personal financial losses to the books of Nissan, Japan's number&nbsp;2 automaker.

Reuters reported in June that Nissan would be fined up to 4 billion yen and it may receive a reduced fine of around 2.4 billion yen if the automaker filed documentation to the Securities and Exchange Surveillance Commission (SESC) before the formal investigation begins, citing a source.

The fine would cover a four-year period through March 2018, the source previously told Reuters.

Nissan and the SESC could not immediately be reached for comment.

Japan's markets watchdog will likely recommend soon that the financial regulator fine Nissan Motor Co Ltd about 2.4 billion yen ($22 million) over false reporting on its financial statement, public broadcaster NHK reported on Sunday.

Japan's markets watchdog will likely recommend soon that the financial regulator fine Nissan Motor Co Ltd about 2.4 billion yen ($22 million) over false reporting on its financial statement, public broadcaster NHK reported on Sunday. Nissan's former Chairman Carlos Ghosn was arrested in Tokyo in November last year over allegations of financial misconduct, including understating his salary by around 9.1 billion yen ($84.71 million) over a period of nearly a decade and temporarily transferring personal financial losses to the books of Nissan, Japan's number 2 automaker. Reuters reported in June that Nissan would be fined up to 4 billion yen and it may receive a reduced fine of around 2.4 billion yen if the automaker filed documentation to the Securities and Exchange Surveillance Commission (SESC) before the formal investigation begins, citing a source. The fine would cover a four-year period through March 2018, the source previously told Reuters. Nissan and the SESC could not immediately be reached for comment.

Japan's markets watchdog likely to recommend $22 million fine against Nissan

Japan's Nissan Motor Co Ltd&nbsp;has said it is recalling 394,025 cars in the United States over a braking system defect, causing concerns that a brake fluid leak could potentially lead to a fire.

The leak into internal circuit boards will trigger a warning to drivers, which if ignored may lead to a fire in "rare instances," Nissan said in a filing dated November 8 with the National Highway Traffic Safety Administration (NHTSA) under recall number 18V-601.

"... if the warning is ignored and the vehicle continues to be operated in this condition, the brake fluid leak may potentially create an electrical short in the actuator circuit, which in rare instances, may lead to a fire," the Japanese automaker said.

The recall, which was reported on Friday by US&nbsp;media, includes Maxima sedans from 2016 through 2018, Infiniti QX60 luxury crossovers from 2017 to 2019, Murano SUVs from 2015 to 2018 and Pathfinder SUVs from 2017 to 2019, the filing showed.

The document does not mention whether the brake system defect actually caused any fires or injuries.

The company also reportedly said that it was working to fix the issue and that owners of the affected cars will be notified starting early next month.

"Once the remedy is available, owners will receive a final notification letter asking them to bring their vehicle to an authorized Nissan dealer or INFINITI retailer to have the remedy work completed at no cost for parts or labour," it told NPR in an emailed statement.

The development comes less than two months after NHTSA opened a preliminary investigation into 553,000 Nissan Rogue sport utility vehicles after reports of their automatic emergency braking systems engaging without warning or an obstruction.

Improper inspections of brakes, steering wheels, speed measurements and vehicle stability had also caused the company to issue a recall of several thousand vehicles in Japan late last year.

In September, the company recalled 1.3 million vehicles to fix a problem with its backup camera displays.

Japan's Nissan Motor Co Ltd has said it is recalling 394,025 cars in the United States over a braking system defect, causing concerns that a brake fluid leak could potentially lead to a fire.

Japan's Nissan Motor Co Ltd has said it is recalling 394,025 cars in the United States over a braking system defect, causing concerns that a brake fluid leak could potentially lead to a fire. The leak into internal circuit boards will trigger a warning to drivers, which if ignored may lead to a fire in "rare instances," Nissan said in a filing dated November 8 with the National Highway Traffic Safety Administration (NHTSA) under recall number 18V-601. "... if the warning is ignored and the vehicle continues to be operated in this condition, the brake fluid leak may potentially create an electrical short in the actuator circuit, which in rare instances, may lead to a fire," the Japanese automaker said. The recall, which was reported on Friday by US media, includes Maxima sedans from 2016 through 2018, Infiniti QX60 luxury crossovers from 2017 to 2019, Murano SUVs from 2015 to 2018 and Pathfinder SUVs from 2017 to 2019, the filing showed. The document does not mention whether the brake system defect actually caused any fires or injuries. The company also reportedly said that it was working to fix the issue and that owners of the affected cars will be notified starting early next month. "Once the remedy is available, owners will receive a final notification letter asking them to bring their vehicle to an authorized Nissan dealer or INFINITI retailer to have the remedy work completed at no cost for parts or labour," it told NPR in an emailed statement. The development comes less than two months after NHTSA opened a preliminary investigation into 553,000 Nissan Rogue sport utility vehicles after reports of their automatic emergency braking systems engaging without warning or an obstruction. Improper inspections of brakes, steering wheels, speed measurements and vehicle stability had also caused the company to issue a recall of several thousand vehicles in Japan late last year. In September, the company recalled 1.3 million vehicles to fix a problem with its backup camera displays.

Nissan recalls nearly 400,00 vehicles over braking system defect

A year on from the shock fall of boss Carlos Ghosn, the Renault-Nissan automobile alliance is bent on a reboot to leave behind the upheaval and dust kicked up by the affair.

The giant task falls to new board chairman Jean-Dominique Senard in the context of the car industry as a whole racing to meet huge new challenges.

Ghosn revelled in taking the two partners to the forefront of the carmaking game.

A total of 10.76 million vehicles sold last year along with ally Mitsubishi Motor put the trio ahead of Toyota and Volkswagen.

But this year saw volumes slide back again below those of both rivals.

The demise of the authoritarian Ghosn following his arrest on financial misconduct charges lifted the lid on an empire riven with internal conflict as he straddled the chairmanship of three companies, concentrating all power in himself.

"The unity of command masked the incredible diversity of forces at work. When that exploded it liberated them," says one highly-placed official within the alliance.

In one corner, feeling they were the standout part of the partnership yet long seeing themselves as under-valued, were the Japanese behind Nissan director Hiroto Saikawa.

In the other, foursquare behind Renault's then chief executive Thierry Bollore, the French contingent nursed a sense of betrayal at a secret Nissan investigation which had delivered Ghosn into the hands of the Japanese judiciary.

Unlike Volkswagen or Toyota, the alliance is not an integrated group but a partnership based on cross-shareholdings without a joint structure. Renault holds 43 per cent of Nissan, which has a 15 per cent stake in Renault and a 34 per cent controlling stake in Mitsubishi.

Lost year

Since the Ghosn affair burst into the open last November, there has been no means of achieving constructive dialogue or decision making, meaning a year has been lost as a result.

Last month saw the quickfire departures of both Saikawa and Bollore which did allow one page to be turned.

"There were excesses on both sides and sparks flew. But there has been a clean-up at Nissan as well as Renault. The people now in place are all convinced of the need to reinforce the alliance," said one source close to Nissan.

Ongoing problems include profitability and cash generation amid the burning need for technological innovations including electric and autonomous cars in a shrinking market.

Renault and Nissan have reduced operational margin targets for this year to five and 1.4 per cent of sales respectively.

That compares with Volkswagen's 6.5 to 7.5 per cent despite it having to bounce back from an emissions scandal which cost it tens of billions in fines. Toyota tops that with more than eight per cent.

Invisible synergies

"For a longstanding partnership" of 20 years "it is a little surprising that the synergies which should have existed for a long time don't show up in the figures," commented Vittoria Ferraris, an analyst with S&amp;P Global Ratings, which recently lowered its rating for Renault and put Nissan's on negative watch.

But Senard recently insisted that "you will be surprised at the strength of the alliance in the months ahead".

He added that the last meeting of the partner boards "was one of the most positive since I arrived".

After failing to deliver a hoped-for merger with Fiat Chrysler,&nbsp;now set to seal the deal with French rival PSA, the alliance is looking for new initiatives.

Debate on governance reform remains on the table, with the Japanese wanting a tilt in their favour.

Given Renault's strength in Europe and Nissan's in the USA and China, the pair are geographically complementary and could pool expertise on the move to electric power.

But Ferraris warns that while "the tough market will provide strong motivation... the problem is the time that will take".

A year on from the shock fall of boss Carlos Ghosn, the Renault-Nissan automobile alliance is bent on a reboot to leave behind the upheaval and dust kicked up by the affair.

A year on from the shock fall of boss Carlos Ghosn, the Renault-Nissan automobile alliance is bent on a reboot to leave behind the upheaval and dust kicked up by the affair. The giant task falls to new board chairman Jean-Dominique Senard in the context of the car industry as a whole racing to meet huge new challenges. Ghosn revelled in taking the two partners to the forefront of the carmaking game. A total of 10.76 million vehicles sold last year along with ally Mitsubishi Motor put the trio ahead of Toyota and Volkswagen. But this year saw volumes slide back again below those of both rivals. The demise of the authoritarian Ghosn following his arrest on financial misconduct charges lifted the lid on an empire riven with internal conflict as he straddled the chairmanship of three companies, concentrating all power in himself. "The unity of command masked the incredible diversity of forces at work. When that exploded it liberated them," says one highly-placed official within the alliance. In one corner, feeling they were the standout part of the partnership yet long seeing themselves as under-valued, were the Japanese behind Nissan director Hiroto Saikawa. In the other, foursquare behind Renault's then chief executive Thierry Bollore, the French contingent nursed a sense of betrayal at a secret Nissan investigation which had delivered Ghosn into the hands of the Japanese judiciary. Unlike Volkswagen or Toyota, the alliance is not an integrated group but a partnership based on cross-shareholdings without a joint structure. Renault holds 43 per cent of Nissan, which has a 15 per cent stake in Renault and a 34 per cent controlling stake in Mitsubishi. Lost year Since the Ghosn affair burst into the open last November, there has been no means of achieving constructive dialogue or decision making, meaning a year has been lost as a result. Last month saw the quickfire departures of both Saikawa and Bollore which did allow one page to be turned. "There were excesses on both sides and sparks flew. But there has been a clean-up at Nissan as well as Renault. The people now in place are all convinced of the need to reinforce the alliance," said one source close to Nissan. Ongoing problems include profitability and cash generation amid the burning need for technological innovations including electric and autonomous cars in a shrinking market. Renault and Nissan have reduced operational margin targets for this year to five and 1.4 per cent of sales respectively. That compares with Volkswagen's 6.5 to 7.5 per cent despite it having to bounce back from an emissions scandal which cost it tens of billions in fines. Toyota tops that with more than eight per cent. Invisible synergies "For a longstanding partnership" of 20 years "it is a little surprising that the synergies which should have existed for a long time don't show up in the figures," commented Vittoria Ferraris, an analyst with S&P Global Ratings, which recently lowered its rating for Renault and put Nissan's on negative watch. But Senard recently insisted that "you will be surprised at the strength of the alliance in the months ahead". He added that the last meeting of the partner boards "was one of the most positive since I arrived". After failing to deliver a hoped-for merger with Fiat Chrysler, now set to seal the deal with French rival PSA, the alliance is looking for new initiatives. Debate on governance reform remains on the table, with the Japanese wanting a tilt in their favour. Given Renault's strength in Europe and Nissan's in the USA and China, the pair are geographically complementary and could pool expertise on the move to electric power. But Ferraris warns that while "the tough market will provide strong motivation... the problem is the time that will take".

Renault-Nissan alliance in flux a year after Ghosn shock

Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn.

Nissan downgraded its net profit forecast to 110 billion yen ($1 billion) for the fiscal year to March 2020, compared with an earlier estimate of 170 billion yen.

Full-year sales are now estimated at 10.6 trillion yen, down from a previous forecast of 11.3 trillion yen.

Nissan blamed the poor outlook on weak first-half earnings, a strong yen, an uncertain global outlook and the stagnation of the car industry in general.

Incoming chief financial officer Stephen Ma said, "Sales in China outpaced the market but sales in other key regions including the US, Europe and Japan underperformed in those markets. This resulted in the overall decrease of our market share."

Net profit for the six months to September plunged 73.5 per cent to 65.4 billion yen, the worst first-half result since the global financial crisis a decade ago.

"Nissan is in a very severe situation at a time when competition in the global auto market is further intensifying," said Satoru Takada, auto analyst at TIW, a Tokyo-based research and consulting firm.

It was Nissan's first earnings announcement since the appointment last month of Makoto Uchida as new chief executive, elevating the insider heading the firm's China unit as it overhauls its leadership after the Ghosn scandal.

Uchida's appointment, to take effect on December 1, came after months of turmoil for the automaker in the wake of the arrest of former chief Ghosn on allegations of financial misconduct.

Former CEO Hiroto Saikawa resigned in September after an investigation prompted by the Ghosn scandal revealed he was among Nissan executives who received excess pay by altering the terms of a share price bonus.

"Nissan's new management is setting sail in a storm," Takada told AFP.

"Uchida is expected to show new strategies for Nissan's survival," he said.

'Additional restructuring'

The automaker has cited a global slowdown in the auto sector, but it is also suffering from a lack of innovation on its production line and reputational damage from the Ghosn scandal.

Uchida inherits the harsh cost-cutting measures Saikawa proposed as a way out of the crisis -- including reducing dealer incentives and promotions but also cutting global production by 10 per cent to 2023 -- a measure that means the loss of 12,500 jobs.

"Additional restructuring is possible in the wake of the layoff plan," Takada said.

Asked about possible fresh job losses, Nissan official Ma said no new announcement would be made until the full new management team is in place on December 1.

The company is "very urgently working" to improve sales and profitability, Ma said.

Nissan separately said it would hold a shareholder meeting next February to put forward a plan to appoint new directors.&nbsp;

Adding to Nissan's woes is continued tension within the three-way alliance with Mitsubishi Motors and Renault.

Ghosn, who created the alliance, wanted greater integration with France's Renault and says his push for that prompted angry Nissan executives to plot against him.

The two firms have made a show of holding the marriage together in the wake of Ghosn's arrest, but tensions have bubbled to the surface.

Renault holds a 43 per cent stake in the Japanese automaker, which in turn controls 15 per cent of the French firm but has no voting rights.

"The negative impact of the furore around Ghosn is gradually becoming visible," Takada said. "The alliance is facing a crucial stage," he added.

Ghosn is out on bail in Tokyo, awaiting a trial that reports have suggested could start in April on charges of under-reporting millions of dollars in salary and using company funds for personal expenses.

He denies any wrongdoing.

Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn.

Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn. Nissan downgraded its net profit forecast to 110 billion yen ($1 billion) for the fiscal year to March 2020, compared with an earlier estimate of 170 billion yen. Full-year sales are now estimated at 10.6 trillion yen, down from a previous forecast of 11.3 trillion yen. Nissan blamed the poor outlook on weak first-half earnings, a strong yen, an uncertain global outlook and the stagnation of the car industry in general. Incoming chief financial officer Stephen Ma said, "Sales in China outpaced the market but sales in other key regions including the US, Europe and Japan underperformed in those markets. This resulted in the overall decrease of our market share." Net profit for the six months to September plunged 73.5 per cent to 65.4 billion yen, the worst first-half result since the global financial crisis a decade ago. "Nissan is in a very severe situation at a time when competition in the global auto market is further intensifying," said Satoru Takada, auto analyst at TIW, a Tokyo-based research and consulting firm. It was Nissan's first earnings announcement since the appointment last month of Makoto Uchida as new chief executive, elevating the insider heading the firm's China unit as it overhauls its leadership after the Ghosn scandal. Uchida's appointment, to take effect on December 1, came after months of turmoil for the automaker in the wake of the arrest of former chief Ghosn on allegations of financial misconduct. Former CEO Hiroto Saikawa resigned in September after an investigation prompted by the Ghosn scandal revealed he was among Nissan executives who received excess pay by altering the terms of a share price bonus. "Nissan's new management is setting sail in a storm," Takada told AFP. "Uchida is expected to show new strategies for Nissan's survival," he said. 'Additional restructuring' The automaker has cited a global slowdown in the auto sector, but it is also suffering from a lack of innovation on its production line and reputational damage from the Ghosn scandal. Uchida inherits the harsh cost-cutting measures Saikawa proposed as a way out of the crisis -- including reducing dealer incentives and promotions but also cutting global production by 10 per cent to 2023 -- a measure that means the loss of 12,500 jobs. "Additional restructuring is possible in the wake of the layoff plan," Takada said. Asked about possible fresh job losses, Nissan official Ma said no new announcement would be made until the full new management team is in place on December 1. The company is "very urgently working" to improve sales and profitability, Ma said. Nissan separately said it would hold a shareholder meeting next February to put forward a plan to appoint new directors. Adding to Nissan's woes is continued tension within the three-way alliance with Mitsubishi Motors and Renault. Ghosn, who created the alliance, wanted greater integration with France's Renault and says his push for that prompted angry Nissan executives to plot against him. The two firms have made a show of holding the marriage together in the wake of Ghosn's arrest, but tensions have bubbled to the surface. Renault holds a 43 per cent stake in the Japanese automaker, which in turn controls 15 per cent of the French firm but has no voting rights. "The negative impact of the furore around Ghosn is gradually becoming visible," Takada said. "The alliance is facing a crucial stage," he added. Ghosn is out on bail in Tokyo, awaiting a trial that reports have suggested could start in April on charges of under-reporting millions of dollars in salary and using company funds for personal expenses. He denies any wrongdoing.

Crisis-hit Nissan chops forecasts, net profit worst for a decade

Nissan Motor Co&nbsp;on Friday appointed American Stephen Ma as its next chief financial officer and said Hitoshi Kawaguchi and other veteran executives were stepping down, a shake-up that one source said marked a "generational change" at the automaker.

The announcement comes just weeks after the Japanese company named the head of its China business, Makoto Uchida, as its next chief executive.

Following the dramatic ouster of former Chairman Carlos Ghosn almost exactly a year ago, Nissan has been battered by scandals, plunging profits, and tensions with top shareholder Renault SA.

The company said Ma, its global controller who is turning 49 this month, would become its next chief financial officer, making him one of the highest-ranking non-Japanese at the company.

He will replace Hiroshi Karube, whose departure was also announced.

"We are trying to achieve a generational change in Nissan management," said a source at the company, who spoke on condition of anonymity.

The departure of Kawaguchi, which was earlier reported by Reuters, is also significant. The executive, who had been in charge of external affairs, had been seen as backing acting chief executive Yasuhiro Yamauchi for the top job that later went to Uchida, Reuters has reported.

Nissan Motor Co on Friday appointed American Stephen Ma as its next chief financial officer and said Hitoshi Kawaguchi and other veteran executives were stepping down, a shake-up that one source said marked a "generational change" at the automaker.

Nissan Motor Co on Friday appointed American Stephen Ma as its next chief financial officer and said Hitoshi Kawaguchi and other veteran executives were stepping down, a shake-up that one source said marked a "generational change" at the automaker. The announcement comes just weeks after the Japanese company named the head of its China business, Makoto Uchida, as its next chief executive. Following the dramatic ouster of former Chairman Carlos Ghosn almost exactly a year ago, Nissan has been battered by scandals, plunging profits, and tensions with top shareholder Renault SA. The company said Ma, its global controller who is turning 49 this month, would become its next chief financial officer, making him one of the highest-ranking non-Japanese at the company. He will replace Hiroshi Karube, whose departure was also announced. "We are trying to achieve a generational change in Nissan management," said a source at the company, who spoke on condition of anonymity. The departure of Kawaguchi, which was earlier reported by Reuters, is also significant. The executive, who had been in charge of external affairs, had been seen as backing acting chief executive Yasuhiro Yamauchi for the top job that later went to Uchida, Reuters has reported.

Nissan names new finance chief, some managers to leave in latest shake-up

Tokyo Motor Show 2019: The show has a futuristic tech on display. Nissan unveils Ariya concept crossover EV

Tokyo Motor Show 2019: Show has futuristic tech on display

Ex-Nissan chief Carlos Ghosn on Thursday urged a Tokyo court to dismiss the case against him, accusing Japanese prosecutors of a "pervasive pattern of illegal misconduct".

The claims, made in two filings to the Tokyo District Court, allege prosecutors colluded with Nissan and effectively subcontracted out their investigation to employees of the automaker who were trying to oust Ghosn.

"The court filings demonstrate that the prosecutors' case, which was politically motivated and poisoned from the start, is fundamentally flawed and contradicted by the evidentiary record," Ghosn's lawyers said in a statement.

Ghosn is out on bail in Tokyo, awaiting trial on four charges of financial misconduct. He denies any wrongdoing and laid out his defence again Thursday.

But he and his lawyers argue the entire case against him is "fundamentally flawed".

The filings allege the creation of a "secret task force" at Nissan created to "drum up allegations of wrongdoing by Mr Ghosn as a pretext to remove him".

They formalise claims Ghosn has made previously -- that the allegations against him stem from resentment within Nissan over his plans to more closely integrate the firm with its alliance partner, French automaker Renault.

Along with Mitsubishi Motors, Nissan and Renault form a leading auto alliance, but relations inside the partnership have been tense at times.

Ghosn's legal team claim the opposition to further integration of the car firms drew in even government officials from the Ministry of Economy, Trade and Industry (METI).

"The prosecution against him resulted from unlawful collusion between the prosecutors, government officials at METI and executives at Nissan," Ghosn's legal team said in a statement.

"Their goal: to oust Mr Ghosn in order to prevent him from further integrating Nissan and Renault, which threatened the autonomy of one of Japan's industry flagships."

Ex-Nissan chief Carlos Ghosn on Thursday urged a Tokyo court to dismiss the case against him, accusing Japanese prosecutors of a "pervasive pattern of illegal misconduct".

Ex-Nissan chief Carlos Ghosn on Thursday urged a Tokyo court to dismiss the case against him, accusing Japanese prosecutors of a "pervasive pattern of illegal misconduct". The claims, made in two filings to the Tokyo District Court, allege prosecutors colluded with Nissan and effectively subcontracted out their investigation to employees of the automaker who were trying to oust Ghosn. "The court filings demonstrate that the prosecutors' case, which was politically motivated and poisoned from the start, is fundamentally flawed and contradicted by the evidentiary record," Ghosn's lawyers said in a statement. Ghosn is out on bail in Tokyo, awaiting trial on four charges of financial misconduct. He denies any wrongdoing and laid out his defence again Thursday. But he and his lawyers argue the entire case against him is "fundamentally flawed". The filings allege the creation of a "secret task force" at Nissan created to "drum up allegations of wrongdoing by Mr Ghosn as a pretext to remove him". They formalise claims Ghosn has made previously -- that the allegations against him stem from resentment within Nissan over his plans to more closely integrate the firm with its alliance partner, French automaker Renault. Along with Mitsubishi Motors, Nissan and Renault form a leading auto alliance, but relations inside the partnership have been tense at times. Ghosn's legal team claim the opposition to further integration of the car firms drew in even government officials from the Ministry of Economy, Trade and Industry (METI). "The prosecution against him resulted from unlawful collusion between the prosecutors, government officials at METI and executives at Nissan," Ghosn's legal team said in a statement. "Their goal: to oust Mr Ghosn in order to prevent him from further integrating Nissan and Renault, which threatened the autonomy of one of Japan's industry flagships."

Ghosn wants case dismissed over 'prosecutor misconduct'

Nissan Motor Co Ltd&nbsp;is likely to axe its&nbsp;Datsun&nbsp;brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.

Known internally as the "performance recovery plan", the proposed steps mark a sharp break with Nissan's strategy under ousted leader Carlos Ghosn, who pursued ambitious vehicle sales targets in the United States and other major markets.

The plan is the Yokohama-based automaker's latest attempt to pull itself out of crisis after Ghosn was arrested for financial misconduct - charges he denies. The scandal has further strained an already dysfunctional alliance with Renault SA&nbsp;and thrown Nissan into disarray as it finds itself on course to book its lowest operating profit in 11 years.

The sources said Nissan will likely kill loss-making variants for the Titan full-size pickup. Unprofitable variants include the single-cab and diesel versions.

A planned shuttering of under-utilised production lines will most probably hit plants in emerging markets building&nbsp;Datsun&nbsp;and other small cars hardest, they added.

"We need to chart a recovery but the rot goes deep," one of the sources said of the many problems facing Nissan.

The second source said all markets with factories except China were being looked at for possible reductions in production capacity. That source also said, however, that there were no plans to close an entire plant or withdraw completely from any country.

In the United States, one of Nissan's biggest markets, the plan calls for fresh efforts to weed out the practice of buying market share by selling vehicles to the rental car and other fleet operators at heavy discounts - a practice which destroyed profitability and undermined Nissan's brand image.

"We're trying to clean up what had happened in the past," one of the sources said, adding that under Ghosn, Nissan sought to meet sales objectives at any cost, including "practically giving away cars" to fleet customers.

A team led by Jun Seki, a senior vice president and incoming vice chief operating officer, is expected to unveil the wide-ranging plan this month though some aspects are still being finalised, said the sources, who were not authorised to speak to media and declined to be identified.

Nissan declined to comment.

Seki is part of a new management team that will see Makoto Uchida, Nissan's head of China operations, take the helm, an appointment that is expected to take effect by Jan. 1.

The new steps follow plans unveiled in July to cut headcount by 12,500 globally by early 2023 and which also flagged cuts to production capacity. At the time, then-CEO Hiroto Saikawa said 14 facilities would be affected.

Overall, the plan's aim is to free up resources to focus more on the United States and China, the sources said.

To that end, it will roll back an aggressive expansionist strategy Ghosn set in motion under a five-year plan called Power 88 which aimed to raise profit margins and global market share to 8 per cent by fiscal 2016,&nbsp;goals which were never achieved.

The&nbsp;Datsun&nbsp;brand - revived for emerging markets under Ghosn after being phased out in the 1980s,&nbsp;&nbsp;will likely bear the brunt of the restructuring. The models are manufactured in Indonesia, India and Russia.

The sources said problems emerged after Nissan began deploying the no-frills cars in 2014 in small markets such as Indonesia, India, Russia and South Africa where it also sells vehicles under its mainstay Nissan brand.

In Indonesia, for example, after a relatively good start,&nbsp;Datsun&nbsp;cars soon began eating into Nissan sales.

"We ended up pushing two mainstream brands in a market where you have a one or two per cent market share. You cannot do that," one of the sources said, adding that there had been similar outcomes in India, South Africa and Russia.

In its bigger markets, a steady supply of new or significantly redesigned models,&nbsp;starting with the redesigned Altima which was launched in the United States late last year,&nbsp;is expected to help Nissan reset the way it prices its vehicles.

"Still, it takes about a year to get any sort of tangible results," one of the sources said, adding that until then the Japanese automaker would continue to see sales by volume fall in the US&nbsp;market.

Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.

Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said. Known internally as the "performance recovery plan", the proposed steps mark a sharp break with Nissan's strategy under ousted leader Carlos Ghosn, who pursued ambitious vehicle sales targets in the United States and other major markets. The plan is the Yokohama-based automaker's latest attempt to pull itself out of crisis after Ghosn was arrested for financial misconduct - charges he denies. The scandal has further strained an already dysfunctional alliance with Renault SA and thrown Nissan into disarray as it finds itself on course to book its lowest operating profit in 11 years. The sources said Nissan will likely kill loss-making variants for the Titan full-size pickup. Unprofitable variants include the single-cab and diesel versions. A planned shuttering of under-utilised production lines will most probably hit plants in emerging markets building Datsun and other small cars hardest, they added. "We need to chart a recovery but the rot goes deep," one of the sources said of the many problems facing Nissan. The second source said all markets with factories except China were being looked at for possible reductions in production capacity. That source also said, however, that there were no plans to close an entire plant or withdraw completely from any country. In the United States, one of Nissan's biggest markets, the plan calls for fresh efforts to weed out the practice of buying market share by selling vehicles to the rental car and other fleet operators at heavy discounts - a practice which destroyed profitability and undermined Nissan's brand image. "We're trying to clean up what had happened in the past," one of the sources said, adding that under Ghosn, Nissan sought to meet sales objectives at any cost, including "practically giving away cars" to fleet customers. A team led by Jun Seki, a senior vice president and incoming vice chief operating officer, is expected to unveil the wide-ranging plan this month though some aspects are still being finalised, said the sources, who were not authorised to speak to media and declined to be identified. Nissan declined to comment. Seki is part of a new management team that will see Makoto Uchida, Nissan's head of China operations, take the helm, an appointment that is expected to take effect by Jan. 1. The new steps follow plans unveiled in July to cut headcount by 12,500 globally by early 2023 and which also flagged cuts to production capacity. At the time, then-CEO Hiroto Saikawa said 14 facilities would be affected. Overall, the plan's aim is to free up resources to focus more on the United States and China, the sources said. To that end, it will roll back an aggressive expansionist strategy Ghosn set in motion under a five-year plan called Power 88 which aimed to raise profit margins and global market share to 8 per cent by fiscal 2016, goals which were never achieved. The Datsun brand - revived for emerging markets under Ghosn after being phased out in the 1980s, will likely bear the brunt of the restructuring. The models are manufactured in Indonesia, India and Russia. The sources said problems emerged after Nissan began deploying the no-frills cars in 2014 in small markets such as Indonesia, India, Russia and South Africa where it also sells vehicles under its mainstay Nissan brand. In Indonesia, for example, after a relatively good start, Datsun cars soon began eating into Nissan sales. "We ended up pushing two mainstream brands in a market where you have a one or two per cent market share. You cannot do that," one of the sources said, adding that there had been similar outcomes in India, South Africa and Russia. In its bigger markets, a steady supply of new or significantly redesigned models, starting with the redesigned Altima which was launched in the United States late last year, is expected to help Nissan reset the way it prices its vehicles. "Still, it takes about a year to get any sort of tangible results," one of the sources said, adding that until then the Japanese automaker would continue to see sales by volume fall in the US market.

Nissan Motor likely to axe Datsun brand: Sources

<a href="https://www.wionews.com/world/after-ghosn-nissan-ceo-hiroto-saikawa-to-step-down-over-financial-irregularities-accusation-248639">Nissan Motor Co</a> named the head of its Chinese business as its next CEO on Tuesday, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider.

By selecting Senior Vice President Makoto Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company.

Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" - direct and to the point in conversations.

He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors Corp, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault.

Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid.

Whether the 53-year-old former theology student can deliver a miracle turnaround - particularly at Nissan's business in the United States - and repair ties with Renault will now be a focus for investors.

"The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference.

"Speedy decision making is a challenge that Uchida raised, and to this end, he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role."

One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover.

'Isn't really Japanese'

<a href="https://www.wionews.com/world/crisis-hit-nissan-ceo-set-to-resign-as-board-meets-248599">Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan</a>, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder.

Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.

Nissan's former China chief Jun Seki, who was seen as one of the top contenders for the CEO job, will be vice COO, the company said. The three appointees will take up their positions by January&nbsp;1.

"All three are global citizens, attach importance to the alliance, and are motivated to speed decision making" Toyoda said.

The Uchida associate described him as a "Japanese person who isn't really Japanese inside. Very direct in his language, to the point, easy to understand."

He is extremely proficient in English and worked with Renault, which owns 43.4 per cent of Nissan, on alliance procurement.

Although he is steeped in cost control and rose through ranks in purchasing and procurement - two key things for Nissan - there are other traits that mark him as an outsider.

Unlike other top executives, he has not spent his entire career at Nissan, having joined from Nissho Iwai, now part of trading house Sojitz. He also graduated from Doshisha University in Kyoto, where he studied theology. Many top executives in Japan come from the University of Tokyo, and often study law.

As such he is seen as a "tozama", a lord who was considered an outsider in feudal Japan, the associate said.

Directors at Nissan, including those from Renault, voted unanimously in favour of the two executives, a source familiar with the matter said.

APE, which handles the French state's holdings in companies, said it was delighted "with a unanimous decision that will allow Nissan and the alliance to move forward."

Nissan Motor Co named the head of its Chinese business as its next CEO on Tuesday, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider.

Nissan Motor Co named the head of its Chinese business as its next CEO on Tuesday, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Makoto Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" - direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors Corp, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 53-year-old former theology student can deliver a miracle turnaround - particularly at Nissan's business in the United States - and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end, he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'Isn't really Japanese' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles. Nissan's former China chief Jun Seki, who was seen as one of the top contenders for the CEO job, will be vice COO, the company said. The three appointees will take up their positions by January 1. "All three are global citizens, attach importance to the alliance, and are motivated to speed decision making" Toyoda said. The Uchida associate described him as a "Japanese person who isn't really Japanese inside. Very direct in his language, to the point, easy to understand." He is extremely proficient in English and worked with Renault, which owns 43.4 per cent of Nissan, on alliance procurement. Although he is steeped in cost control and rose through ranks in purchasing and procurement - two key things for Nissan - there are other traits that mark him as an outsider. Unlike other top executives, he has not spent his entire career at Nissan, having joined from Nissho Iwai, now part of trading house Sojitz. He also graduated from Doshisha University in Kyoto, where he studied theology. Many top executives in Japan come from the University of Tokyo, and often study law. As such he is seen as a "tozama", a lord who was considered an outsider in feudal Japan, the associate said. Directors at Nissan, including those from Renault, voted unanimously in favour of the two executives, a source familiar with the matter said. APE, which handles the French state's holdings in companies, said it was delighted "with a unanimous decision that will allow Nissan and the alliance to move forward."

Nissan pins revival hopes on 'foreigner with a Japanese face'

Nissan CEO Hiroto Saikawa will be stepping down shortly, its board said on Monday, amid accusations of financial irregularities as the carmaker reels from the arrest and ouster of former <a href="https://www.wionews.com/world/wife-of-nissans-former-boss-carlos-ghosn-seeks-donald-trump-help-228006">boss Carlos Ghosn</a>.

"After the board discussion, the board asked Mr Saikawa to step down from the CEO position. Mr Saikawa accepted this," Yasushi Kimura, chair of the board of directors, told reporters.

Hiroto Saikawa's reported decision to step down comes days after he admitted receiving overpayments, and is the latest blow to the firm <a href="https://www.wionews.com/world/police-search-ex-nissan-chief-ghosns-home-over-marriage-celebrations-in-palace-of-versailles-226999">after Ghosn's arrest</a> and ouster.

The current chief operating officer, Yasuhiro Yamauchi, will take over as acting CEO on September 16, when Saikawa officially leaves, added Kimura.

According to reports in the local media on Monday, Saikawa is suspected of improperly adding $440,000&nbsp;to his compensation by altering the terms of a bonus.

Another board member, Motoo Nagai, said that there was "no illegality" to what Saikawa did but he should not have delegated elements of his pay to another executive.

"At the end of the day, the operation which should have been carried out by the president himself was carried out, delegated to others, which is a violation of the rules," said Nagai.

The audit was launched in the wake of the Ghosn scandal but appears to have implicated Saikawa and other executives for receiving excess pay as part of a scheme under which directors can earn a bonus if their company's share price rises above a certain level in a set period.

Saikawa had apologised last week while denying any wrongdoing.

"I left the issue to someone else so I had thought it was dealt with in an appropriate manner," he told reporters.

The carmaker is currently undergoing an overhaul intended to strengthen governance after the Ghosn scandal.

In June, Nissan shareholders voted in favour of various measures including the establishment of three new oversight committees responsible for the appointment of senior officials, pay issues and auditing.

Nissan CEO Hiroto Saikawa will be stepping down shortly, its board said on Monday, amid accusations of financial irregularities as the carmaker reels from the arrest and ouster of former boss Carlos Ghosn.

Nissan CEO Hiroto Saikawa will be stepping down shortly, its board said on Monday, amid accusations of financial irregularities as the carmaker reels from the arrest and ouster of former boss Carlos Ghosn. "After the board discussion, the board asked Mr Saikawa to step down from the CEO position. Mr Saikawa accepted this," Yasushi Kimura, chair of the board of directors, told reporters. Hiroto Saikawa's reported decision to step down comes days after he admitted receiving overpayments, and is the latest blow to the firm after Ghosn's arrest and ouster. The current chief operating officer, Yasuhiro Yamauchi, will take over as acting CEO on September 16, when Saikawa officially leaves, added Kimura. According to reports in the local media on Monday, Saikawa is suspected of improperly adding $440,000 to his compensation by altering the terms of a bonus. Another board member, Motoo Nagai, said that there was "no illegality" to what Saikawa did but he should not have delegated elements of his pay to another executive. "At the end of the day, the operation which should have been carried out by the president himself was carried out, delegated to others, which is a violation of the rules," said Nagai. The audit was launched in the wake of the Ghosn scandal but appears to have implicated Saikawa and other executives for receiving excess pay as part of a scheme under which directors can earn a bonus if their company's share price rises above a certain level in a set period. Saikawa had apologised last week while denying any wrongdoing. "I left the issue to someone else so I had thought it was dealt with in an appropriate manner," he told reporters. The carmaker is currently undergoing an overhaul intended to strengthen governance after the Ghosn scandal. In June, Nissan shareholders voted in favour of various measures including the establishment of three new oversight committees responsible for the appointment of senior officials, pay issues and auditing.

After Ghosn, Nissan CEO Hiroto Saikawa to step down over financial irregularities accusation

Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn.

An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct.

Saikawa apologised and vowed to return any improperly paid funds as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era".

"I am deeply sorry for causing concern," Saikawa said, according to Jiji Press.

In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken.

The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public.

Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added.

Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9.

The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker.

Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March.

He denies any wrongdoing and says he is the victim of a boardroom coup.

Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

The company launched its internal investigation after Japanese magazine Bungei Shunju in June published accusations by former director Greg Kelly that Saikawa was granted an exception in 2013 to reschedule a stock-linked bonus that bumped up the payout by 47 million yen ($445,962).

Like Ghosn, Kelly is awaiting trial on charges of financial misconduct which he denies.

The latest compensation issue could exacerbate tensions with top shareholder Renault, after a failed attempt by the French automaker to secure a full merger with Nissan and to combine Renault with Fiat Chrysler (FCA). Saikawa opposed both plans.

Renault spokesman Frederic Texier declined to comment on the issue on Thursday. But a source close the company said Renault would "respect Nissan's governance" and leave the board to consider its response.

The alliance partners are discussing reforms that could win Nissan's support for a renewed FCA-Renault tie-up, including a potential reduction to Renault's 43.4% stake in Nissan.

Saikawa was re-appointed by shareholders with the lowest approval rating among the 11 directors in June.

Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn.

Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologised and vowed to return any improperly paid funds as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era". "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA. The company launched its internal investigation after Japanese magazine Bungei Shunju in June published accusations by former director Greg Kelly that Saikawa was granted an exception in 2013 to reschedule a stock-linked bonus that bumped up the payout by 47 million yen ($445,962). Like Ghosn, Kelly is awaiting trial on charges of financial misconduct which he denies. The latest compensation issue could exacerbate tensions with top shareholder Renault, after a failed attempt by the French automaker to secure a full merger with Nissan and to combine Renault with Fiat Chrysler (FCA). Saikawa opposed both plans. Renault spokesman Frederic Texier declined to comment on the issue on Thursday. But a source close the company said Renault would "respect Nissan's governance" and leave the board to consider its response. The alliance partners are discussing reforms that could win Nissan's support for a renewed FCA-Renault tie-up, including a potential reduction to Renault's 43.4% stake in Nissan. Saikawa was re-appointed by shareholders with the lowest approval rating among the 11 directors in June.

Nissan probe finds CEO Saikawa, other executives overpaid in compliance failure: Report

Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of efforts to turn itself around, Japanese media said Wednesday, citing company sources.

The cuts come after Nissan announced in May it would trim 4,800 jobs from its global workforce of around 139,000.

Nissan's net profit fell to a near-decade low in the last business year and it has already warned of "a difficult business environment" for the next 12 months.

The company is due to announce first-quarter earnings on Thursday, and a Nissan spokesman said there would be no comment on the reports before then.

"We've not decided yet what we'll announce (at the Thursday earnings press conference), and we don't comment on (media) speculation," Nissan spokesman Koji Okuda told AFP.

The company has been hit by a fall in sales in the United States and Europe and is still reeling after the shock arrest of former boss Carlos Ghosn on financial misconduct charges.

It has also been facing tensions with its French partner Renault, which owns 43 per cent of the Japanese manufacturer, and is undergoing an overhaul intended to strengthen governance after the Ghosn scandal.

The cuts are likely to hit some factories in South America and other regions where Nissan has low profitability, Kyodo news agency said.

In May, Nissan reported net profits for the fiscal year to March 2019 of 319 billion yen ($2.9 billion) -- the lowest amount since 2009/10 when the company was struggling in the wake of the global financial crisis.

It was a decline of 57 per cent compared to the previous fiscal year and the profit outlook for the current fiscal year was forecast to be even worse -- at 170 billion yen.

Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of efforts to turn itself around, Japanese media said Wednesday, citing company sources.

Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of efforts to turn itself around, Japanese media said Wednesday, citing company sources. The cuts come after Nissan announced in May it would trim 4,800 jobs from its global workforce of around 139,000. Nissan's net profit fell to a near-decade low in the last business year and it has already warned of "a difficult business environment" for the next 12 months. The company is due to announce first-quarter earnings on Thursday, and a Nissan spokesman said there would be no comment on the reports before then. "We've not decided yet what we'll announce (at the Thursday earnings press conference), and we don't comment on (media) speculation," Nissan spokesman Koji Okuda told AFP. The company has been hit by a fall in sales in the United States and Europe and is still reeling after the shock arrest of former boss Carlos Ghosn on financial misconduct charges. It has also been facing tensions with its French partner Renault, which owns 43 per cent of the Japanese manufacturer, and is undergoing an overhaul intended to strengthen governance after the Ghosn scandal. The cuts are likely to hit some factories in South America and other regions where Nissan has low profitability, Kyodo news agency said. In May, Nissan reported net profits for the fiscal year to March 2019 of 319 billion yen ($2.9 billion) -- the lowest amount since 2009/10 when the company was struggling in the wake of the global financial crisis. It was a decline of 57 per cent compared to the previous fiscal year and the profit outlook for the current fiscal year was forecast to be even worse -- at 170 billion yen.

Nissan to cut 10,000 jobs worldwide: Report

Nissan said Wednesday that a reported 90 per cent plunge in its first-quarter operating profit was "broadly accurate".

The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to <a href="https://www.wionews.com/world/nissan-to-cut-10000-jobs-worldwide-report-238084">slash more than 10,000 jobs worldwide</a>.

"While the financial results are still being reviewed, the operating profit reported in the Nikkei Shimbun article was broadly accurate," Nissan said in a press release.

The Nikkei reported that the plunge was due to declines in US sales, and costs for developing electric vehicles and autonomous driving technologies weighed on profits.

But Nissan added no official confirmation can be made before the announcement of results on Thursday.

In May, it reported net profit fell to a near-decade low and warned of "a difficult business environment" for the next 12 months.

The company has struggled in the US and Europe as it works to turn its fortunes around after former chief Carlos Ghosn was arrested for alleged financial misconduct.&nbsp;

Nissan said Wednesday that a reported 90 per cent plunge in its first-quarter operating profit was "broadly accurate". The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to slash more than 10,000 jobs worldwide.

Nissan said Wednesday that a reported 90 per cent plunge in its first-quarter operating profit was "broadly accurate". The auto giant confirmed the Nikkei business daily story amid separate reports that it was also planning to slash more than 10,000 jobs worldwide. "While the financial results are still being reviewed, the operating profit reported in the Nikkei Shimbun article was broadly accurate," Nissan said in a press release. The Nikkei reported that the plunge was due to declines in US sales, and costs for developing electric vehicles and autonomous driving technologies weighed on profits. But Nissan added no official confirmation can be made before the announcement of results on Thursday. In May, it reported net profit fell to a near-decade low and warned of "a difficult business environment" for the next 12 months. The company has struggled in the US and Europe as it works to turn its fortunes around after former chief Carlos Ghosn was arrested for alleged financial misconduct.

Nissan confirms Q1 operating profit plunge

<a href="https://www.wionews.com/world/renault-to-block-nissans-plan-to-overhaul-governance-structure-report-225818">Nissan Motor Co </a>is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said.

The two-decade-old partnership of Nissan and Renault was plunged into a crisis earlier this week, as the French automaker’ s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm.

Renault, which owns 43.4% of the Japanese firm, signalled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting - unless Renault received representation on new Nissan committees.

Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said.

“Nissan will have to make concessions for our governance reform,” this person said. “Whether two or three seats, we still don’t know how many committees we will be giving to Renault, but we are in talks with Renault to give some seats to someone recommended by Renault.”

Jean-Dominique Senard, Renault’s chairman, said earlier in the week that he was confident of reaching an agreement&nbsp;with Nissan on the composition of the Japanese company’s main board committees. He said he would support Nissan’s governance reform if the Japanese firm allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees.

Nissan had offered to let only Senard sit on the committees but Renault insists its chief executive Thierry Bollore also have a role.

Another source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating.

“There is still a gap ... both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said.

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said. The two-decade-old partnership of Nissan and Renault was plunged into a crisis earlier this week, as the French automaker’ s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm. Renault, which owns 43.4% of the Japanese firm, signalled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting - unless Renault received representation on new Nissan committees. Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said. “Nissan will have to make concessions for our governance reform,” this person said. “Whether two or three seats, we still don’t know how many committees we will be giving to Renault, but we are in talks with Renault to give some seats to someone recommended by Renault.” Jean-Dominique Senard, Renault’s chairman, said earlier in the week that he was confident of reaching an agreement with Nissan on the composition of the Japanese company’s main board committees. He said he would support Nissan’s governance reform if the Japanese firm allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees. Nissan had offered to let only Senard sit on the committees but Renault insists its chief executive Thierry Bollore also have a role. Another source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating. “There is still a gap ... both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.

Nissan considers giving Renault some seats on oversight committees: Source

French anti-fraud police on Thursday searched the residence of former Nissan and<a href="https://www.wionews.com/world/covering-the-carlos-ghosn-saga-japanese-craft-of-burasagari-and-a-bit-of-luck-for-photojournalists-213374"> Renault chief Carlos Ghosn</a> outside Paris as part of a probe into his sumptuous marriage celebrations at the Palace of Versailles in 2016, prosecutors said.

The police went to his home in the town of Etang-la-Ville as part of a preliminary investigation prompted by Renault earlier this year, prosecutors in the district of Nanterre west of Paris said.

Renault has previously signalled to French authorities suspect transactions under Ghosn, who at the peak of his powers was known for his jet-setting and luxury lifestyle.

He is suspected of hiring the entire Palace of Versailles outside Paris in October 2016 to celebrate his marriage, a benefit estimated as being worth&nbsp; $56,000, in exchange for a philanthropy deal between the state-owned property and Renault.

The search marks a new headache for the former Renault CEO, who was also Nissan chairman in the alliance with the Japanese carmaker, after his initial arrest in Tokyo in November.

The 65-year-old Ghosn, who maintains his innocence, is awaiting trial in Japan over charges of under-reporting his salary for years while at Nissan and using company funds for personal expenses.

Finance Minister Bruno Le Maire told French television earlier this month Renault is to bring a case against Ghosn after identifying 11 million euros of questionable expenses.

France holds a 15 per cent stake in Renault.

Ghosn, who is a French citizen, was seen as a titan of the industry until his mounting legal troubles precipitated his spectacular fall.

He was freed in Japan on $4.5 million bail in April after being detained on fresh charges but is living under strict conditions including restrictions on seeing his wife.

Under the conditions of his bail, Ghosn must stay in Japan and must live in a court-appointed residence with cameras to monitor his movements.

Renault under Ghosn for years tied its strategy to the partnership with Nissan but this has been put in doubt by his arrest and subsequent ouster at both companies.

An offer of a merger from Italian automaker Fiat Chrysler did not come to fruition, with Renault saying the government had blocked the deal, something denied by Le Maire.

Investigators are also looking at expenses paid for marketing in Oman suspected of being used for personal expenses by Ghosn without any link to the work of the company.

French anti-fraud police on Thursday searched the residence of former Nissan and Renault chief Carlos Ghosn outside Paris as part of a probe into his sumptuous marriage celebrations at the Palace of Versailles in 2016, prosecutors said.

French anti-fraud police on Thursday searched the residence of former Nissan and Renault chief Carlos Ghosn outside Paris as part of a probe into his sumptuous marriage celebrations at the Palace of Versailles in 2016, prosecutors said. The police went to his home in the town of Etang-la-Ville as part of a preliminary investigation prompted by Renault earlier this year, prosecutors in the district of Nanterre west of Paris said. Renault has previously signalled to French authorities suspect transactions under Ghosn, who at the peak of his powers was known for his jet-setting and luxury lifestyle. He is suspected of hiring the entire Palace of Versailles outside Paris in October 2016 to celebrate his marriage, a benefit estimated as being worth $56,000, in exchange for a philanthropy deal between the state-owned property and Renault. The search marks a new headache for the former Renault CEO, who was also Nissan chairman in the alliance with the Japanese carmaker, after his initial arrest in Tokyo in November. The 65-year-old Ghosn, who maintains his innocence, is awaiting trial in Japan over charges of under-reporting his salary for years while at Nissan and using company funds for personal expenses. Finance Minister Bruno Le Maire told French television earlier this month Renault is to bring a case against Ghosn after identifying 11 million euros of questionable expenses. France holds a 15 per cent stake in Renault. Ghosn, who is a French citizen, was seen as a titan of the industry until his mounting legal troubles precipitated his spectacular fall. He was freed in Japan on $4.5 million bail in April after being detained on fresh charges but is living under strict conditions including restrictions on seeing his wife. Under the conditions of his bail, Ghosn must stay in Japan and must live in a court-appointed residence with cameras to monitor his movements. Renault under Ghosn for years tied its strategy to the partnership with Nissan but this has been put in doubt by his arrest and subsequent ouster at both companies. An offer of a merger from Italian automaker Fiat Chrysler did not come to fruition, with Renault saying the government had blocked the deal, something denied by Le Maire. Investigators are also looking at expenses paid for marketing in Oman suspected of being used for personal expenses by Ghosn without any link to the work of the company.

Police search ex-Nissan chief Ghosn's home over marriage celebrations in Palace of Versailles

French carmaker Renault has warned its <a href="https://www.wionews.com/world/ghosn-resigns-as-renault-boss-as-french-group-enters-new-era-192468">alliance partner Nissan</a> that it will block the Japanese auto firm's plan to overhaul its governance structure, fearing that the changes could reduce its influence, according to the Financial Times.&nbsp;

The reported move by Renault, which is Nissan's largest shareholder, is likely to further strain ties between the two firms after the shock arrest of former boss Carlos Ghosn.&nbsp;

A spokesman for Renault contacted by AFP did not immediately confirm the report.&nbsp;

The FT said that Renault chairman Jean-Dominique Senard had said in a letter to his Nissan counterpart, which has not been made public, that the French firm would abstain from a vote on long-planned changes to the governance structure during the Japanese company's annual meeting.&nbsp;

It would therefore deny the proposal the two thirds majority it needs to pass. &nbsp;

The report added, however, that Renault's position may change, citing sources familiar with Senard's approach.&nbsp;

Renault is pushing for a full merger between the pair but there is deep scepticism of the plan at Nissan.

The company recently made an attempt for a merger with Fiat Chrysler that would -- together with Renault's Japanese partners Nissan and Mitsubishi Motors -- have created a car giant spanning the globe. &nbsp;

But the Italian-US carmaker pulled the plug, saying negotiations had become "unreasonable" due to political resistance in Paris.&nbsp;

Relations between Renault and Nissan have been tested over the arrest in November of their joint boss Ghosn, who awaits trial in Japan on charges of financial misconduct. 
&nbsp;

French carmaker Renault has warned its alliance partner Nissan that it will block the Japanese auto firm's plan to overhaul its governance structure, fearing that the changes could reduce its influence, according to the Financial Times.

French carmaker Renault has warned its alliance partner Nissan that it will block the Japanese auto firm's plan to overhaul its governance structure, fearing that the changes could reduce its influence, according to the Financial Times. The reported move by Renault, which is Nissan's largest shareholder, is likely to further strain ties between the two firms after the shock arrest of former boss Carlos Ghosn. A spokesman for Renault contacted by AFP did not immediately confirm the report. The FT said that Renault chairman Jean-Dominique Senard had said in a letter to his Nissan counterpart, which has not been made public, that the French firm would abstain from a vote on long-planned changes to the governance structure during the Japanese company's annual meeting. It would therefore deny the proposal the two thirds majority it needs to pass. The report added, however, that Renault's position may change, citing sources familiar with Senard's approach. Renault is pushing for a full merger between the pair but there is deep scepticism of the plan at Nissan. The company recently made an attempt for a merger with Fiat Chrysler that would -- together with Renault's Japanese partners Nissan and Mitsubishi Motors -- have created a car giant spanning the globe. But the Italian-US carmaker pulled the plug, saying negotiations had become "unreasonable" due to political resistance in Paris. Relations between Renault and Nissan have been tested over the arrest in November of their joint boss Ghosn, who awaits trial in Japan on charges of financial misconduct.

Renault to block Nissan's plan to overhaul governance structure: Report

The family of former Renault and Nissan head <a href="https://www.wionews.com/business-economy/ex-nissan-chief-carlos-ghosn-to-walk-free-again-after-court-sets-bail-at-45-million-213336">Carlos Ghosn</a> has submitted another request for UN intervention against what it says is his "judicial persecution" in Japan, one of their lawyers said Sunday.

Jessica Finelle said the family had approached the working group on arbitrary detention at the Office of the UN Commissioner for Human Rights to see if they could provide some redress.

In the request, the lawyers say bail conditions imposed on Ghosn amounted to "house arrest" and were intended to weaken him psychologically ahead of his trial.

<a href="https://www.wionews.com/world/carlos-ghosns-trial-to-be-delayed-possibly-until-next-year-report-214005">Ghosn was dramatically arrested in November </a>as he stepped off his private jet in Tokyo. He was held for 108 days as prosecutors investigated financial misconduct allegations and charged him with three counts.

He finally won bail in March, agreeing to conditions including living in a court-appointed residence monitored by cameras.

But prosecutors then levelled a fresh allegation against him in April and he was rearrested, spending another 21 days in detention before winning bail a second time.

The former Nissan chief is now preparing for trial on <a href="https://www.wionews.com/world/ghosn-to-be-indicted-on-fresh-charge-media-211793">four charges of financial misconduct ranging from concealing part of his salary</a>, to using Nissan funds for personal expenses.

Lawyers for the family said in the latest request to the UN's working committee on arbitrary detention that the number and scale of the conditions imposed on Ghosn amounted "in effect to house arrest, meaning that his provisional detention continues and he is still deprived of his liberty".

The restrictions, "especially the prohibition of any direct contact with his wife, appear to be abuse aimed at tiring him out psychologically and to put him in a position of weakness... in violation of the right to a fair trial".

"This really amounts to a form of judicial persecution of Carlo Ghosn who is prohibited from meeting his wife, even for an hour in the presence of lawyers," they say, according to the documents seen by AFP.

Describing Ghosn as being held "hostage", the lawyers go on to demand that the UN working group declare the Japanese measures to be "arbitrary" and to urge Japan to "release (him) without delay".

Lawyer Finelle told AFP that even if the UN working group has no power to compel Japan to act differently, "it is still a matter of image for the Japanese".

She said she hoped for a decision before Ghosn's court case begins, which might not be until next year.

Watch: Nissan's Carlos Ghosn

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The family of former Renault and Nissan head Carlos Ghosn has submitted another request for UN intervention against what it says is his "judicial persecution" in Japan, one of their lawyers said Sunday.

The family of former Renault and Nissan head Carlos Ghosn has submitted another request for UN intervention against what it says is his "judicial persecution" in Japan, one of their lawyers said Sunday. Jessica Finelle said the family had approached the working group on arbitrary detention at the Office of the UN Commissioner for Human Rights to see if they could provide some redress. In the request, the lawyers say bail conditions imposed on Ghosn amounted to "house arrest" and were intended to weaken him psychologically ahead of his trial. Ghosn was dramatically arrested in November as he stepped off his private jet in Tokyo. He was held for 108 days as prosecutors investigated financial misconduct allegations and charged him with three counts. He finally won bail in March, agreeing to conditions including living in a court-appointed residence monitored by cameras. But prosecutors then levelled a fresh allegation against him in April and he was rearrested, spending another 21 days in detention before winning bail a second time. The former Nissan chief is now preparing for trial on four charges of financial misconduct ranging from concealing part of his salary, to using Nissan funds for personal expenses. Lawyers for the family said in the latest request to the UN's working committee on arbitrary detention that the number and scale of the conditions imposed on Ghosn amounted "in effect to house arrest, meaning that his provisional detention continues and he is still deprived of his liberty". The restrictions, "especially the prohibition of any direct contact with his wife, appear to be abuse aimed at tiring him out psychologically and to put him in a position of weakness... in violation of the right to a fair trial". "This really amounts to a form of judicial persecution of Carlo Ghosn who is prohibited from meeting his wife, even for an hour in the presence of lawyers," they say, according to the documents seen by AFP. Describing Ghosn as being held "hostage", the lawyers go on to demand that the UN working group declare the Japanese measures to be "arbitrary" and to urge Japan to "release (him) without delay". Lawyer Finelle told AFP that even if the UN working group has no power to compel Japan to act differently, "it is still a matter of image for the Japanese". She said she hoped for a decision before Ghosn's court case begins, which might not be until next year. Watch: Nissan's Carlos Ghosn ×

Ghosn family seeks UN help against 'judicial persercution' in Japan

Former Nissan chief Carlos Ghosn's trial, which was expected to begin in September, will be delayed, local media said Saturday, hinting that it may not start this year.

The 65-year-old tycoon, currently on bail, is preparing for his trial on four charges of financial misconduct ranging from concealing part of his salary from shareholders to syphoning off Nissan funds for his personal use.

The Tokyo District Court had proposed to start his trial in September during its pre-trial meetings with his defence lawyers and prosecutors, news reports said, quoting unnamed sources.

But the court told the lawyers and prosecutors on Friday that it had retracted the plan without proposing a new time frame, Kyodo News said, adding that the move could mean the trial will not start this year.

The court also decided not to separate the trial for Ghosn, his close aide Greg Kelly and Nissan -- all indicted on the charge of violating the financial instruments law by underreporting Ghosn's compensation, according to Kyodo.

His lawyers have so far demanded he be tried separately from Nissan and have voiced fears he will not receive a fair trial.

The Sankei Shimbun also said prosecutors gave up filing an appeal to the Supreme Court against his bail, a move to erasing a chance of his return to jail unless he is arrested again on fresh charges.

Immediate confirmation of the news reports was not available.

On Thursday, Ghosn exited his Tokyo detention centre after accepting bail of $4.5 million under strict conditions, including restrictions on seeing his wife.

His case has captivated Japan and the business community with its multiple twists and turns, as well as shone a spotlight on the Japanese justice system which critics say is overly harsh.

Ghosn denies all the charges, with a spokesperson for the executive saying on Monday he would "vigorously defend himself against these baseless accusations and fully expects to be vindicated".

In a statement hours after his release, Ghosn said: "No person should ever be indefinitely held in solitary confinement for the purpose of being forced into making a confession."

The dramatic case has thrown international attention onto the Japanese justice system, derided by critics as "hostage justice" as it allows prolonged detention and relies heavily on suspects' confessions.

Former Nissan chief Carlos Ghosn's trial, which was expected to begin in September, will be delayed, local media said Saturday, hinting that it may not start this year.

Former Nissan chief Carlos Ghosn's trial, which was expected to begin in September, will be delayed, local media said Saturday, hinting that it may not start this year. The 65-year-old tycoon, currently on bail, is preparing for his trial on four charges of financial misconduct ranging from concealing part of his salary from shareholders to syphoning off Nissan funds for his personal use. The Tokyo District Court had proposed to start his trial in September during its pre-trial meetings with his defence lawyers and prosecutors, news reports said, quoting unnamed sources. But the court told the lawyers and prosecutors on Friday that it had retracted the plan without proposing a new time frame, Kyodo News said, adding that the move could mean the trial will not start this year. The court also decided not to separate the trial for Ghosn, his close aide Greg Kelly and Nissan -- all indicted on the charge of violating the financial instruments law by underreporting Ghosn's compensation, according to Kyodo. His lawyers have so far demanded he be tried separately from Nissan and have voiced fears he will not receive a fair trial. The Sankei Shimbun also said prosecutors gave up filing an appeal to the Supreme Court against his bail, a move to erasing a chance of his return to jail unless he is arrested again on fresh charges. Immediate confirmation of the news reports was not available. On Thursday, Ghosn exited his Tokyo detention centre after accepting bail of $4.5 million under strict conditions, including restrictions on seeing his wife. His case has captivated Japan and the business community with its multiple twists and turns, as well as shone a spotlight on the Japanese justice system which critics say is overly harsh. Ghosn denies all the charges, with a spokesperson for the executive saying on Monday he would "vigorously defend himself against these baseless accusations and fully expects to be vindicated". In a statement hours after his release, Ghosn said: "No person should ever be indefinitely held in solitary confinement for the purpose of being forced into making a confession." The dramatic case has thrown international attention onto the Japanese justice system, derided by critics as "hostage justice" as it allows prolonged detention and relies heavily on suspects' confessions.

Carlos Ghosn's trial to be delayed possibly until next year: Report

Former Nissan chief <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/covering-the-carlos-ghosn-saga-japanese-craft-of-burasagari-and-a-bit-of-luck-for-photojournalists-213374&amp;sa=U&amp;ved=2ahUKEwi4i8O_uO_hAhUzXnwKHaTfAmMQFjAEegQIChAC&amp;usg=AOvVaw3x0GoJuzYhUuf_9zwckM1R">Carlos Ghosn</a>'s trial, which was expected to begin in September, will be delayed, local media said Saturday, hinting that it may not start this year.

The 65-year-old tycoon, currently on bail, is preparing for his trial on four charges of financial misconduct ranging from concealing part of his salary from shareholders to syphoning off Nissan funds for his personal use.

The<a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/carlos-ghosn-hit-with-fresh-charge-in-japan-files-for-bail-212600&amp;sa=U&amp;ved=2ahUKEwi4i8O_uO_hAhUzXnwKHaTfAmMQFjAFegQICRAC&amp;usg=AOvVaw3IhoCoMTUlTcQp_GGxlE0F"> Tokyo District </a>Court had proposed to start his trial in September during its pre-trial meetings with his defence lawyers and prosecutors, news reports said, quoting unnamed sources.

But the court told the lawyers and prosecutors on Friday that it had retracted the plan without proposing a new time frame, Kyodo News said, adding that the move could mean the trial will not start this year.

The court also decided not to separate the trial for Ghosn, his close aide Greg Kelly and Nissan -- all indicted on the charge of violating the financial instruments law by underreporting Ghosn's compensation, according to Kyodo.

His lawyers have so far demanded he be tried separately from Nissan and have voiced fears he will not receive a fair trial.

The Sankei Shimbun also said prosecutors gave up filing an appeal to the Supreme Court against his bail, a move to erasing a chance of his return to jail unless he is arrested again on fresh charges.

Immediate confirmation of the news reports was not available.

On Thursday, Ghosn exited his Tokyo detention centre after accepting bail of $4.5 million under strict conditions, including restrictions on seeing his wife.

His case has captivated Japan and the business community with its multiple twists and turns, as well as shone a spotlight on the Japanese justice system which critics say is overly harsh.

Ghosn denies all the charges, with a spokesperson for the executive saying on Monday he would "vigorously defend himself against these baseless accusations and fully expects to be vindicated".

In a statement hours after his release, Ghosn said: "No person should ever be indefinitely held in solitary confinement for the purpose of being forced into making a confession."

The dramatic case has thrown international attention onto the Japanese justice system, derided by critics as "hostage justice" as it allows prolonged detention and relies heavily on suspects' confessions.

Former Nissan boss Ghosn's trial to be delayed possibly until next year: Media

From a 14-hour wait outside Tokyo's main jail on Christmas Day to a momentous photograph filed from the top of a step-ladder, covering the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/ex-nissan-boss-ghosn-to-walk-free-again-after-court-sets-bail-at-45-million-213331&amp;sa=U&amp;ved=2ahUKEwjN74Wi2OrhAhUj8XMBHTERAgMQFjAAegQIBBAC&amp;usg=AOvVaw2aBDJQRsDGnK9vqvtcVUSj">Carlos Ghosn</a> story has mostly been about mastering the art of Japanese stakeout journalism.

That often means waiting for hours on suburban streets or outside offices to accost corporate bosses and politicians for what are called "burasagari," or stakeout briefings. Such vigils were an important part of Reuters coverage in the days following the arrest in November of Ghosn, the former head of Nissan Motor Co.

Learning the craft of burasagari - literally "hanging onto," conjuring up the image of a scrum of journalists clinging to a source - is a rite of passage for many young Japanese reporters, photographers and video journalists.

For instance, there is the media gaggle that lurks during the day in the entrance hall of the prime minister's residence, kept at bay in one corner with a strip of blue tape on the granite floor. Journalists are only allowed to cross when someone walks in.

Elsewhere, reporters stalk the halls of Japan's Ministry of Finance for comments on currencies or the economy. Others press their ears to meeting room doors for muffled snippets at the ruling Liberal Democratic Party offices. On the streets, scandal-tainted celebrities and criminal suspects are shadowed by lurking reporters.

One particular kind of ambush journalism practised in Japan is "yomawari," or night raids, when reporters stake out the residence of an executive or politician, hoping to catch them on their way home.

Night raids over the Ghosn story became so frequent and heavily attended that Nissan sent registered letters in December to news organizations asking them to stop visiting the homes of their executives. The company said neighbours had complained and that the "intrusive reporting" had led to one passerby getting injured, without elaborating.

Jail stakeout

From the time Ghosn was arrested, the Reuters team in Tokyo has spent hours, days even, outside the Tokyo jail. There have also been chilly evenings on night stakeouts in front of his lawyer's office or outside the court waiting for news.

Bounded by elevated motor expressways, a river and train line, the imposing Tokyo Detention House sits in one of Tokyo's poorer neighbourhoods, surrounded by small workshops and apartment blocks.

There are few places for the tired and frozen to take refuge and warm up. A solitary 7-Eleven convenience store nearby often sold out of steamed dumplings, hot drinks and other sustenance.

On Christmas Day, Reuters journalists waited 14 hours outside the jail for a glimpse of Ghosn's co-accused, Greg Kelly, when he was freed on bail.

There was a slice of luck when Ghosn himself was freed on bail in March.

Chief Photographer Issei Kato had been waiting outside the detention centre for two days for Ghosn to appear along with about 200 other journalists.

Kato was standing atop a cameraman's ladder, holding the camera and a heavy 200-400 millimetre lens, with a 1.4x extender, worrying about the fading light as the sun began to set. He couldn't use a flash as he was shooting through a fence that would have flooded the picture with reflected light.

It was then Kato suddenly saw a group of guards and men dressed in work clothes and wearing surgical masks walk quickly out of the entrance in tight formation and get into a small van with a ladder on top.

"I didn't immediately recognise Ghosn amongst them, but thought they somehow looked odd," he said. "I instinctively squeezed the shutter."

As the van swung around and drove away, Kato said he began checking the images through the camera's view screen.

"I suddenly realized that the eyes peeking from behind the mask of one of the men belonged to Ghosn.

"Still atop the step-ladder, I quickly transmitted the picture of Ghosn in his disguise to our European photo desk in Gdynia, Poland, directly from my camera using the wireless transmitter attached to it," he said.

"The transmission of the first image took about 15 seconds. The photo editors in Gdynia quickly cropped, captioned and published the photo within a few minutes."

Kato's image of the masked Ghosn was used widely online and in newspapers.

The former Nissan boss has since been re-arrested and is back in jail.

But on Thursday, the court granted him bail a second time, prompting Kato, who has acquired a longer step-ladder and other journalists to race to the detention centre yet again.

From a 14-hour wait outside Tokyo's main jail on Christmas Day to a momentous photograph filed from the top of a step-ladder, covering the Carlos Ghosn story has mostly been about mastering the art of Japanese stakeout journalism.

From a 14-hour wait outside Tokyo's main jail on Christmas Day to a momentous photograph filed from the top of a step-ladder, covering the Carlos Ghosn story has mostly been about mastering the art of Japanese stakeout journalism. That often means waiting for hours on suburban streets or outside offices to accost corporate bosses and politicians for what are called "burasagari," or stakeout briefings. Such vigils were an important part of Reuters coverage in the days following the arrest in November of Ghosn, the former head of Nissan Motor Co. Learning the craft of burasagari - literally "hanging onto," conjuring up the image of a scrum of journalists clinging to a source - is a rite of passage for many young Japanese reporters, photographers and video journalists. For instance, there is the media gaggle that lurks during the day in the entrance hall of the prime minister's residence, kept at bay in one corner with a strip of blue tape on the granite floor. Journalists are only allowed to cross when someone walks in. Elsewhere, reporters stalk the halls of Japan's Ministry of Finance for comments on currencies or the economy. Others press their ears to meeting room doors for muffled snippets at the ruling Liberal Democratic Party offices. On the streets, scandal-tainted celebrities and criminal suspects are shadowed by lurking reporters. One particular kind of ambush journalism practised in Japan is "yomawari," or night raids, when reporters stake out the residence of an executive or politician, hoping to catch them on their way home. Night raids over the Ghosn story became so frequent and heavily attended that Nissan sent registered letters in December to news organizations asking them to stop visiting the homes of their executives. The company said neighbours had complained and that the "intrusive reporting" had led to one passerby getting injured, without elaborating. Jail stakeout From the time Ghosn was arrested, the Reuters team in Tokyo has spent hours, days even, outside the Tokyo jail. There have also been chilly evenings on night stakeouts in front of his lawyer's office or outside the court waiting for news. Bounded by elevated motor expressways, a river and train line, the imposing Tokyo Detention House sits in one of Tokyo's poorer neighbourhoods, surrounded by small workshops and apartment blocks. There are few places for the tired and frozen to take refuge and warm up. A solitary 7-Eleven convenience store nearby often sold out of steamed dumplings, hot drinks and other sustenance. On Christmas Day, Reuters journalists waited 14 hours outside the jail for a glimpse of Ghosn's co-accused, Greg Kelly, when he was freed on bail. There was a slice of luck when Ghosn himself was freed on bail in March. Chief Photographer Issei Kato had been waiting outside the detention centre for two days for Ghosn to appear along with about 200 other journalists. Kato was standing atop a cameraman's ladder, holding the camera and a heavy 200-400 millimetre lens, with a 1.4x extender, worrying about the fading light as the sun began to set. He couldn't use a flash as he was shooting through a fence that would have flooded the picture with reflected light. It was then Kato suddenly saw a group of guards and men dressed in work clothes and wearing surgical masks walk quickly out of the entrance in tight formation and get into a small van with a ladder on top. "I didn't immediately recognise Ghosn amongst them, but thought they somehow looked odd," he said. "I instinctively squeezed the shutter." As the van swung around and drove away, Kato said he began checking the images through the camera's view screen. "I suddenly realized that the eyes peeking from behind the mask of one of the men belonged to Ghosn. "Still atop the step-ladder, I quickly transmitted the picture of Ghosn in his disguise to our European photo desk in Gdynia, Poland, directly from my camera using the wireless transmitter attached to it," he said. "The transmission of the first image took about 15 seconds. The photo editors in Gdynia quickly cropped, captioned and published the photo within a few minutes." Kato's image of the masked Ghosn was used widely online and in newspapers. The former Nissan boss has since been re-arrested and is back in jail. But on Thursday, the court granted him bail a second time, prompting Kato, who has acquired a longer step-ladder and other journalists to race to the detention centre yet again.

Covering Carlos Ghosn saga: Japanese craft of 'burasagari' and a bit of luck for photojournalists

Tokyo prosecutors will indict former Nissan chief <a href="https://www.google.com/url?q=https://www.wionews.com/world/conspiracy-and-backstabbing-against-me-carlos-ghosn-208976&amp;sa=U&amp;ved=0ahUKEwjs2rCh-dvhAhVa63MBHSoqAtUQFggOMAM&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw14HVx_mX4e7-sFMYiD8iSL">Carlos Ghosn</a> on a new charge on Monday when his detention period over suspected financial misconduct expires, local media reported Friday.

The 65-year-old is being questioned in a Tokyo detention centre over allegations he syphoned off millions of dollars from his former company <a href="https://www.google.com/url?q=https://www.wionews.com/world/nissan-shareholders-meet-to-sack-ghosn-from-its-board-208663&amp;sa=U&amp;ved=0ahUKEwjs2rCh-dvhAhVa63MBHSoqAtUQFggRMAQ&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0dbngQ8raCwJtW3qlYYYaD">Nissan </a>to a dealership in the Middle East for his own ends.

Ghosn strenuously denies the allegations and insists they have been cooked up in a "plot" by Nissan executives wary of plans to bring the Japanese car giant closer to its French partner Renault.

On Friday, public broadcaster NHK cited unnamed sources as saying that Tokyo prosecutors will indict the former auto tycoon as early as Monday on suspicion that he had used the money from Nissan for his personal investments into 30 companies.

Kyodo News said the prosecutors decided to indict Ghosn on April 22.

NHK reported that about $26.8 million&nbsp;transferred to an American firm named Shogun Investments, run by Ghosn's son, had been spent on investments in at least 30 companies.

Tokyo prosecutors are also considering questioning Ghosn's son, according to NHK.

Ghosn had already spent 108 days in custody over three other charges of alleged financial malpractice -- accused of two counts of deferring part of his salary and concealing this from shareholders and another charge of seeking to shift personal losses to the company.&nbsp;

He has already won bail once over the first three charges.

Tokyo prosecutors will indict former Nissan chief Carlos Ghosn on a new charge on Monday when his detention period over suspected financial misconduct expires, local media reported Friday.

Tokyo prosecutors will indict former Nissan chief Carlos Ghosn on a new charge on Monday when his detention period over suspected financial misconduct expires, local media reported Friday. The 65-year-old is being questioned in a Tokyo detention centre over allegations he syphoned off millions of dollars from his former company Nissan to a dealership in the Middle East for his own ends. Ghosn strenuously denies the allegations and insists they have been cooked up in a "plot" by Nissan executives wary of plans to bring the Japanese car giant closer to its French partner Renault. On Friday, public broadcaster NHK cited unnamed sources as saying that Tokyo prosecutors will indict the former auto tycoon as early as Monday on suspicion that he had used the money from Nissan for his personal investments into 30 companies. Kyodo News said the prosecutors decided to indict Ghosn on April 22. NHK reported that about $26.8 million transferred to an American firm named Shogun Investments, run by Ghosn's son, had been spent on investments in at least 30 companies. Tokyo prosecutors are also considering questioning Ghosn's son, according to NHK. Ghosn had already spent 108 days in custody over three other charges of alleged financial malpractice -- accused of two counts of deferring part of his salary and concealing this from shareholders and another charge of seeking to shift personal losses to the company. He has already won bail once over the first three charges.

Carlos Ghosn to be indicted on fresh charge: Report

Carlos Ghosn has accused "backstabbing" <a href="https://www.wionews.com/world/ghosn-to-name-names-as-wife-flees-tokyo-208592">Nissan executives</a> of a "conspiracy" to have him arrested over fears he planned to merge the firm with France's Renault, in a video released Tuesday.

The video, recorded shortly before Ghosn was rearrested by prosecutors in Tokyo last week, did not, however, point the finger at specific individuals, with the tycoon's lawyer saying it had been edited to remove names.

The video was the latest twist in a rollercoaster case that has defied expectations since the shock arrest of the 65-year-old last November.

In the brief recording, played by his lawyers at a press conference, Ghosn appeared at a desk in a white shirt and black suit jacket and repeated that he was "innocent of all the charges that have been brought against me."

He denounced a "conspiracy" against him and said events had been "twisted in a way to paint a personage of greed, a personage of dictatorship."

"This is about a plot, this is about conspiracy, this is about backstabbing," he said in the video.

He said the "conspiracy" was motivated by "a fear that the next step of the alliance in terms of convergence and in terms of moving towards a merger would in a certain way threaten some people or eventually threaten the autonomy of Nissan."

In addition to heading Nissan, Ghosn also oversaw the alliance that groups the automaker with Renault and Japan's Mitsubishi Motors. He has previously suggested that concerns at Nissan about closer integration led to his arrest.

But while Ghosn's wife Carole had said the auto tycoon would name "the people responsible" in the video, his lead lawyer Junichiro Hironaka told journalists that the defence team had opted to edit specific allegations out of the recording.

Ghosn was rearrested by prosecutors last week while out on bail in Tokyo after they announced they were investigating new allegations against him.

A court has extended his detention until April 14, when prosecutors can apply to hold him for an additional 10 days before they must release him unless they bring charges or file new allegations.

- Fresh allegations - 
Prosecutors said Ghosn had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018 to a dealership in Oman.

They suspect around $5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments.

Prosecutors accuse Ghosn of having "betrayed" his duty not to cause losses to Nissan "in order to benefit himself."

Ghosn already faces three formal charges: two of deferring his salary and concealing that in official shareholders' documents, and a further charge of seeking to shift investment losses to the firm.

Ghosn spent 108 days in a detention centre in northern Tokyo before being dramatically released on bail of around $9 million on March 6, emerging from incarceration dressed in a workman's uniform and face mask in an apparent bid to avoid the media.

He then lived in a court-appointed apartment in Tokyo without commenting on his situation despite huge international and Japanese media interest in his case that has shocked and surprised from the beginning.

However, just as reports began to surface that he could be rearrested, Ghosn emerged on Twitter to announce plans to hold a news conference on April 11.

His rearrest came just days after news that Renault, which Ghosn also once headed, had handed French prosecutors documents showing suspicious transfers worth million of euros authorised by the auto tycoon.

Shortly after his arrest, his wife Carole -- who had been living in Tokyo with Ghosn while he was on bail -- left Japan.

She told a French newspaper she had been forced to flee Tokyo with support from the French ambassador and was able to use her US passport after having to surrender her Lebanese one to prosecutors.

Prosecutors reportedly wanted to question her on a voluntary basis over suspicions company money allegedly misused by Ghosn could have transited through a business that was run by his wife.

Nissan shareholders on Monday voted to remove Ghosn from the board, along with his right-hand man Greg Kelly, who also faces charges in Japan.

He was replaced by Renault chairman Jean-Dominique Senard.

Carlos Ghosn has accused "backstabbing" Nissan executives of a "conspiracy" to have him arrested over fears he planned to merge the firm with France's Renault, in a video released Tuesday.

Carlos Ghosn has accused "backstabbing" Nissan executives of a "conspiracy" to have him arrested over fears he planned to merge the firm with France's Renault, in a video released Tuesday. The video, recorded shortly before Ghosn was rearrested by prosecutors in Tokyo last week, did not, however, point the finger at specific individuals, with the tycoon's lawyer saying it had been edited to remove names. The video was the latest twist in a rollercoaster case that has defied expectations since the shock arrest of the 65-year-old last November. In the brief recording, played by his lawyers at a press conference, Ghosn appeared at a desk in a white shirt and black suit jacket and repeated that he was "innocent of all the charges that have been brought against me." He denounced a "conspiracy" against him and said events had been "twisted in a way to paint a personage of greed, a personage of dictatorship." "This is about a plot, this is about conspiracy, this is about backstabbing," he said in the video. He said the "conspiracy" was motivated by "a fear that the next step of the alliance in terms of convergence and in terms of moving towards a merger would in a certain way threaten some people or eventually threaten the autonomy of Nissan." In addition to heading Nissan, Ghosn also oversaw the alliance that groups the automaker with Renault and Japan's Mitsubishi Motors. He has previously suggested that concerns at Nissan about closer integration led to his arrest. But while Ghosn's wife Carole had said the auto tycoon would name "the people responsible" in the video, his lead lawyer Junichiro Hironaka told journalists that the defence team had opted to edit specific allegations out of the recording. Ghosn was rearrested by prosecutors last week while out on bail in Tokyo after they announced they were investigating new allegations against him. A court has extended his detention until April 14, when prosecutors can apply to hold him for an additional 10 days before they must release him unless they bring charges or file new allegations. - Fresh allegations - Prosecutors said Ghosn had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018 to a dealership in Oman. They suspect around $5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments. Prosecutors accuse Ghosn of having "betrayed" his duty not to cause losses to Nissan "in order to benefit himself." Ghosn already faces three formal charges: two of deferring his salary and concealing that in official shareholders' documents, and a further charge of seeking to shift investment losses to the firm. Ghosn spent 108 days in a detention centre in northern Tokyo before being dramatically released on bail of around $9 million on March 6, emerging from incarceration dressed in a workman's uniform and face mask in an apparent bid to avoid the media. He then lived in a court-appointed apartment in Tokyo without commenting on his situation despite huge international and Japanese media interest in his case that has shocked and surprised from the beginning. However, just as reports began to surface that he could be rearrested, Ghosn emerged on Twitter to announce plans to hold a news conference on April 11. His rearrest came just days after news that Renault, which Ghosn also once headed, had handed French prosecutors documents showing suspicious transfers worth million of euros authorised by the auto tycoon. Shortly after his arrest, his wife Carole -- who had been living in Tokyo with Ghosn while he was on bail -- left Japan. She told a French newspaper she had been forced to flee Tokyo with support from the French ambassador and was able to use her US passport after having to surrender her Lebanese one to prosecutors. Prosecutors reportedly wanted to question her on a voluntary basis over suspicions company money allegedly misused by Ghosn could have transited through a business that was run by his wife. Nissan shareholders on Monday voted to remove Ghosn from the board, along with his right-hand man Greg Kelly, who also faces charges in Japan. He was replaced by Renault chairman Jean-Dominique Senard.

Conspiracy and backstabbing against me: Carlos Ghosn

Shareholders at Nissan voted on Monday at an extraordinary meeting to remove former <a href="https://www.wionews.com/world/ghosn-to-name-names-as-wife-flees-tokyo-208592">chief Carlos Ghosn</a> from the company's board as he battles multiple charges of financial misconduct.

The shareholders meeting also voted to <a href="https://www.wionews.com/world/japan-court-extends-ghosn-detention-until-april-14-208072">remove Ghosn's former right-hand man</a> Greg Kelly, who also faces charges, from the board, and to appoint Renault chairman Jean-Dominique Senard as director.

The shareholders' meeting at a Tokyo hotel was the first&nbsp;gathering since the stunning arrest of the 65-year-old auto sector titan on November 19 last year.

Nissan CEO Hiroto Saikawa opened the meeting with a speech outlining the allegations against his former mentor, accusing him of misusing funds and seeking to conceal his compensation.

He and other executives bowed deeply before the thousands of shareholders at the meeting as it opened.

"We have to admit that there was a significant problem with our corporate governance," he said, adding that he had been "extremely shocked when I learned of the misconduct."

Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds.

Last week, prosecutors rearrested Ghosn, who was out on bail, over an additional allegation that he transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht.

Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends.

Shareholders at Nissan voted on Monday at an extraordinary meeting to remove former chief Carlos Ghosn from the company's board as he battles multiple charges of financial misconduct.

Shareholders at Nissan voted on Monday at an extraordinary meeting to remove former chief Carlos Ghosn from the company's board as he battles multiple charges of financial misconduct. The shareholders meeting also voted to remove Ghosn's former right-hand man Greg Kelly, who also faces charges, from the board, and to appoint Renault chairman Jean-Dominique Senard as director. The shareholders' meeting at a Tokyo hotel was the first gathering since the stunning arrest of the 65-year-old auto sector titan on November 19 last year. Nissan CEO Hiroto Saikawa opened the meeting with a speech outlining the allegations against his former mentor, accusing him of misusing funds and seeking to conceal his compensation. He and other executives bowed deeply before the thousands of shareholders at the meeting as it opened. "We have to admit that there was a significant problem with our corporate governance," he said, adding that he had been "extremely shocked when I learned of the misconduct." Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders. The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds. Last week, prosecutors rearrested Ghosn, who was out on bail, over an additional allegation that he transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht. Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends.

Nissan shareholders vote to remove Carlos Ghosn from company board

Nissan shareholders are expected to eject <a href="https://www.wionews.com/world/ghosn-to-name-names-as-wife-flees-tokyo-208592">Carlos Ghosn</a> from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody.

The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old auto sector titan on November 19.

Shareholders will vote on the removal of Ghosn, once hailed as the Japanese car giant's saviour and his replacement by Renault chairman Jean-Dominique Senard.

They will also likely jettison as a board member Greg Kelly, a US executive who served as Ghosn's right-hand man and who also faces charges in Japan.

Nissan sacked Ghosn as chairman almost immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board.

Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds.

Last week saw prosecutors rearrest Ghosn over an additional allegation that he had transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht.

Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends.

On Friday, the Tokyo District Court ruled that prosecutors could have until at least April 14 to interrogate Ghosn, who denies any wrongdoing.

This period can be extended for a further 10 days if the court allows, meaning Ghosn is unlikely to be released any time soon.

'It's a plot'

His rearrest on Thursday, the latest twist in a case that has captivated Japan and the business world, came less than a month after he had dramatically won bail, paying around $9 million to secure his release.

He had kept tight-lipped during his bail period and was subject to restrictions on his contacts with others connected with the case, and his online communications. He was also banned from leaving the country.

Just before his rearrest, Ghosn had appeared on Twitter to announce a news conference for April 11 -- which will now not happen barring a further surprise.

However, he gave a combative interview to France's TF1 television channel where he again denounced his downfall as a Nissan "plot" and voiced fears he might not receive a fair trial.

"It's obvious it's a plot," said Ghosn, adding: "Everything needs to be put on the table. Of course, I have names."

"Some of them you have seen in the press, but there are others that haven't been in the press," he said.

He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault.

The other reason for the "plot" was the "deterioration in Nissan's performance for two years," he charged.

"I am very worried about the performance and future of Nissan," said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

Nissan shareholders are expected to eject Carlos Ghosn from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody.

Nissan shareholders are expected to eject Carlos Ghosn from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody. The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old auto sector titan on November 19. Shareholders will vote on the removal of Ghosn, once hailed as the Japanese car giant's saviour and his replacement by Renault chairman Jean-Dominique Senard. They will also likely jettison as a board member Greg Kelly, a US executive who served as Ghosn's right-hand man and who also faces charges in Japan. Nissan sacked Ghosn as chairman almost immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board. Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders. The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds. Last week saw prosecutors rearrest Ghosn over an additional allegation that he had transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht. Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends. On Friday, the Tokyo District Court ruled that prosecutors could have until at least April 14 to interrogate Ghosn, who denies any wrongdoing. This period can be extended for a further 10 days if the court allows, meaning Ghosn is unlikely to be released any time soon. 'It's a plot' His rearrest on Thursday, the latest twist in a case that has captivated Japan and the business world, came less than a month after he had dramatically won bail, paying around $9 million to secure his release. He had kept tight-lipped during his bail period and was subject to restrictions on his contacts with others connected with the case, and his online communications. He was also banned from leaving the country. Just before his rearrest, Ghosn had appeared on Twitter to announce a news conference for April 11 -- which will now not happen barring a further surprise. However, he gave a combative interview to France's TF1 television channel where he again denounced his downfall as a Nissan "plot" and voiced fears he might not receive a fair trial. "It's obvious it's a plot," said Ghosn, adding: "Everything needs to be put on the table. Of course, I have names." "Some of them you have seen in the press, but there are others that haven't been in the press," he said. He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault. The other reason for the "plot" was the "deterioration in Nissan's performance for two years," he charged. "I am very worried about the performance and future of Nissan," said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

Nissan shareholders meet to sack Ghosn from its board

Former Nissan boss <a href="https://www.wionews.com/world/i-have-names-carlos-ghosn-vows-to-clear-his-name-in-japan-trial-208034">Carlos Ghosn</a> will remain in custody until at least April 14, a Japanese court ruled on Friday, as prosecutors quiz him over fresh allegations of financial misconduct.

The Tokyo District Court said in a statement it had accepted a request from prosecutors to detain the 65-year-old auto tycoon for a further 10-day period that can subsequently be extended once more.

The "full term of the detention is 14th" of April, the court said.

Authorities are looking into new allegations that Ghosn transferred some $15 million in Nissan funds between late 2015 and mid-2018 to a dealership in Oman.

They suspect around $5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments.

Prosecutors say Ghosn "betrayed" his duty not to cause losses to Nissan "in order to benefit himself."

Ghosn denies the allegations and says he is also innocent of the three formal charges he faces: two charges of deferring his salary and concealing that in official shareholders' documents and a further charge of seeking to shift investment losses to the firm.

Stephen Givens, an American attorney practising law in Japan since 1987, told AFP the latest allegations were the most serious yet.

"If the facts are true... that is stealing from the company, that is embezzlement, that is terrible," said Givens, who is not connected with the Ghosn case.

"If that's true, it is a serious charge. It differs very significantly from the previous charges that seem minor and technical. These are hurting Nissan or Nissan shareholders and benefiting Ghosn," Givens added.

Justice Minister Takashi Yamashita, a former Tokyo prosecutor himself, hit back at growing criticism of the Japanese system, sometimes described as "hostage justice" due to long detention periods for suspects aimed at forcing a confession.

"I understand that it is being handled appropriately in accordance with the stipulation of the code of criminal procedure. So the criticism is not warranted," Yamashita told journalists.

'Worst enemy'

Ghosn launched a counter-attack in an interview with French television TF1 recorded just before his dawn arrest on Wednesday.

Describing himself as "a combative man and an innocent man", he vowed to "defend myself to the bitter end".

And he voiced concern that he would not be given a fair trial, with around 99 per cent of trials in Japan resulting in a conviction.

"I have doubts over the way the judgement will take place. If there is a fair ruling, I am very confident but if it is not fair, I am worried about what will happen," said Ghosn.

At the end of the initial 10 days of questioning, prosecutors can request a further 10-day extension. After this, they must either press formal charges, release him without charge or re-arrest him to probe further allegations.

In his French TV interview, Ghosn lashed out at the conditions in the detention centre, saying he was deprived of his watch, forced to sleep with the light on and forbidden from contact with his loved ones.

"I wouldn't wish what I have suffered on my worst enemy," he said.

Ghosn spent 108 days in the detention centre in northern Tokyo before being dramatically released on bail of around $9 million on March 6, emerging from incarceration dressed in a workman's uniform and face mask in an apparent bid to avoid the media.

He had since lived in a court-appointed apartment in Tokyo without commenting on his situation despite huge international and Japanese media interest in his case that has shocked and surprised from the beginning.&nbsp;

However, just as reports began to surface that he could be rearrested, Ghosn emerged on Twitter to announce plans to hold a news conference on April 11.

With this now impossible, his lawyer Junichiro Hironaka said Ghosn had pre-recorded a video but refused to give details of the contents or when it would be released.

Former Nissan boss Carlos Ghosn will remain in custody until at least April 14, a Japanese court ruled on Friday, as prosecutors quiz him over fresh allegations of financial misconduct.

Former Nissan boss Carlos Ghosn will remain in custody until at least April 14, a Japanese court ruled on Friday, as prosecutors quiz him over fresh allegations of financial misconduct. The Tokyo District Court said in a statement it had accepted a request from prosecutors to detain the 65-year-old auto tycoon for a further 10-day period that can subsequently be extended once more. The "full term of the detention is 14th" of April, the court said. Authorities are looking into new allegations that Ghosn transferred some $15 million in Nissan funds between late 2015 and mid-2018 to a dealership in Oman. They suspect around $5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments. Prosecutors say Ghosn "betrayed" his duty not to cause losses to Nissan "in order to benefit himself." Ghosn denies the allegations and says he is also innocent of the three formal charges he faces: two charges of deferring his salary and concealing that in official shareholders' documents and a further charge of seeking to shift investment losses to the firm. Stephen Givens, an American attorney practising law in Japan since 1987, told AFP the latest allegations were the most serious yet. "If the facts are true... that is stealing from the company, that is embezzlement, that is terrible," said Givens, who is not connected with the Ghosn case. "If that's true, it is a serious charge. It differs very significantly from the previous charges that seem minor and technical. These are hurting Nissan or Nissan shareholders and benefiting Ghosn," Givens added. Justice Minister Takashi Yamashita, a former Tokyo prosecutor himself, hit back at growing criticism of the Japanese system, sometimes described as "hostage justice" due to long detention periods for suspects aimed at forcing a confession. "I understand that it is being handled appropriately in accordance with the stipulation of the code of criminal procedure. So the criticism is not warranted," Yamashita told journalists. 'Worst enemy' Ghosn launched a counter-attack in an interview with French television TF1 recorded just before his dawn arrest on Wednesday. Describing himself as "a combative man and an innocent man", he vowed to "defend myself to the bitter end". And he voiced concern that he would not be given a fair trial, with around 99 per cent of trials in Japan resulting in a conviction. "I have doubts over the way the judgement will take place. If there is a fair ruling, I am very confident but if it is not fair, I am worried about what will happen," said Ghosn. At the end of the initial 10 days of questioning, prosecutors can request a further 10-day extension. After this, they must either press formal charges, release him without charge or re-arrest him to probe further allegations. In his French TV interview, Ghosn lashed out at the conditions in the detention centre, saying he was deprived of his watch, forced to sleep with the light on and forbidden from contact with his loved ones. "I wouldn't wish what I have suffered on my worst enemy," he said. Ghosn spent 108 days in the detention centre in northern Tokyo before being dramatically released on bail of around $9 million on March 6, emerging from incarceration dressed in a workman's uniform and face mask in an apparent bid to avoid the media. He had since lived in a court-appointed apartment in Tokyo without commenting on his situation despite huge international and Japanese media interest in his case that has shocked and surprised from the beginning. However, just as reports began to surface that he could be rearrested, Ghosn emerged on Twitter to announce plans to hold a news conference on April 11. With this now impossible, his lawyer Junichiro Hironaka said Ghosn had pre-recorded a video but refused to give details of the contents or when it would be released.

Japan court extends Ghosn detention until April 14

Former auto tycoon<a href="https://www.wionews.com/world/ghosn-vows-he-wont-be-broken-after-re-arrest-in-tokyo-208017"> Carlos Ghosn vowed to prove his innocence </a>of alleged financial misdeeds but raised doubts about receiving a fair trial in Japan, in an interview with French television just before he was re-arrested on Thursday. &nbsp;

The ousted boss of Nissan and Renault, whose case has gripped Japan and the rest of the business world, said in the interview that if his trial was fair he was "not worried".&nbsp;

But he told the broadcasters TF1 and LCI, "I have doubts about how this trial is going to play out -- these doubts aren't mine, they're those of my lawyers."

Ghosn reiterated he was "combative and innocent" but acknowledged "it's hard".

"A lot of lies have been told and these lies have come one after another," he said.

A few hours after the interview was conducted, Ghosn was re-arrested.

Prosecutors said he had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018. They suspect Ghosn used $5 million of that for personal expenditure.

The businessman, who holds French, Brazilian and Lebanese nationalities, called on the French government "to defend me," and press the Japanese authorities respect the presumption of innocence, in the interview with French television.

"I am a citizen caught up in an unbelievable chain of events," he said.

Asked if he would provide evidence in his trial that could clear his name, the 65-year-old said, "Everything needs to be put on the table. Of course, I have names."

"Some of them you have seen in the press, but there are others that haven't been in the press," he added.

"It has to be shown why these people are playing a dangerous game, not just for me, but dangerous for the alliance as well."

Ghosn had long been lauded as the architect of the alliance between Renault and Nissan -- and later Mitsubishi -- before his shock arrest in Tokyo in November.

"I pushed hard to make this alliance successful, but never by doing anything illegal," he said.

The tycoon paid around $9 million to win bail on March 6.

He already faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

Former auto tycoon Carlos Ghosn vowed to prove his innocence of alleged financial misdeeds but raised doubts about receiving a fair trial in Japan, in an interview with French television just before he was re-arrested on Thursday.

Former auto tycoon Carlos Ghosn vowed to prove his innocence of alleged financial misdeeds but raised doubts about receiving a fair trial in Japan, in an interview with French television just before he was re-arrested on Thursday. The ousted boss of Nissan and Renault, whose case has gripped Japan and the rest of the business world, said in the interview that if his trial was fair he was "not worried". But he told the broadcasters TF1 and LCI, "I have doubts about how this trial is going to play out -- these doubts aren't mine, they're those of my lawyers." Ghosn reiterated he was "combative and innocent" but acknowledged "it's hard". "A lot of lies have been told and these lies have come one after another," he said. A few hours after the interview was conducted, Ghosn was re-arrested. Prosecutors said he had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018. They suspect Ghosn used $5 million of that for personal expenditure. The businessman, who holds French, Brazilian and Lebanese nationalities, called on the French government "to defend me," and press the Japanese authorities respect the presumption of innocence, in the interview with French television. "I am a citizen caught up in an unbelievable chain of events," he said. Asked if he would provide evidence in his trial that could clear his name, the 65-year-old said, "Everything needs to be put on the table. Of course, I have names." "Some of them you have seen in the press, but there are others that haven't been in the press," he added. "It has to be shown why these people are playing a dangerous game, not just for me, but dangerous for the alliance as well." Ghosn had long been lauded as the architect of the alliance between Renault and Nissan -- and later Mitsubishi -- before his shock arrest in Tokyo in November. "I pushed hard to make this alliance successful, but never by doing anything illegal," he said. The tycoon paid around $9 million to win bail on March 6. He already faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

'I have names': Carlos Ghosn vows to clear his name in Japan trial

Japanese prosecutors Thursday re-arrested Carlos Ghosn on fresh allegations of financial misconduct, as the former auto tycoon slammed an "outrageous and arbitrary" detention and vowed he would "not be broken."

In the early hours, officials raided the central Tokyo apartment the 65-year-old Ghosn has called home since winning bail last month after more than 100 days of detention on different charges.

It was the latest twist in a rollercoaster drama that has gripped Japan and the rest of the world since his shock arrest at a Tokyo airport on November 19.

Prosecutors said Ghosn had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018. They suspect Ghosn used $5 million of that for personal expenditure.

"The suspect... was responsible for overseeing the whole of Nissan's operations and performing his duty loyally so as not to cause losses to Nissan, but he betrayed that duty in order to benefit himself," they said in a statement.

Ghosn released a statement through his representatives attacking what he called the "outrageous and arbitrary" detention.

"Why arrest me except to try to break me? I will not be broken," said the former high-flying executive.

He has denied any wrongdoing and took to Twitter for the first time Wednesday to announce plans to "tell the truth" at an April 11 news conference that now looks unlikely.

Prosecutors can hold Ghosn for up to 22 days while they investigate the new claims and may rearrest him again or seek to hold him in pre-trial detention.

Deputy chief prosecutor Shin Kukimoto justified the arrest by saying they judged there was a "risk of destruction of evidence".

But Ghosn's lawyer Junichiro Hironaka, known as the "Razor" for his mental sharpness, told reporters the fresh arrest was "against the spirit of the law" and "should not be tolerated in a civilised nation."

He added his client had expected prosecutors would re-arrest him and had therefore prepared a video, without specifying the contents or exactly when it would be released.

Visibly angry, he vowed to fight likely attempts by the prosecutor to extend the detention, claiming the arrest was "not necessary" and designed merely to pile pressure on Ghosn.

He added prosecutors had confiscated not only diaries and documents belonging to Ghosn, but also the passport and phone of the tycoon's wife Carole.

Carole Ghosn was questioned "without her attorney present, even though she is not targeted in this investigation," the family's French lawyer, Jessica Finelle, told French network BFMTV.

'Combative and innocent'

Ghosn already faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from the company funds.

In an interview with French television, Ghosn reiterated he was "combative and innocent" but acknowledged "it's hard."

"A lot of lies have been told and these lies have come one after another," he said.

Ghosn, who holds French, Brazilian and Lebanese nationalities, appealed to the French government to "defend" him and his "rights as a citizen."

French Economy Minister Bruno Le Maire stressed Ghosn "should benefit from the presumption of innocence and consular protection," in an interview with BFMTV.

Thursday's arrest came after French car firm Renault, which Ghosn also once headed, handed French prosecutors documents showing the auto tycoon had authorised suspicious transfers worth millions of euros.

A Nissan spokesman said the firm's own internal probe had uncovered "substantial evidence of blatantly unethical conduct" and that their focus was on "addressing weaknesses in governance that enabled this misconduct."

'Tell the truth'

Ghosn had maintained his silence since paying around $9 million to win bail on March 6 when he walked out of his detention centre dressed in a workman's uniform in a bizarre attempt to evade the world's media.

Reports emerged early Wednesday that prosecutors were considering further charges against him whereupon Ghosn suddenly popped up on Twitter to announce he would "tell the truth" about his case.

His tweet, which his representatives confirmed was authentic, sparked questions about his bail conditions, which were thought to include a ban on internet use.

However, Hironaka insisted his client was acting within his rights, telling reporters: "My understanding is that he's not banned from using the internet" and prosecutor Kukimoto said the arrest had nothing to do with the tweet.

Ghosn was largely credited with saving Nissan from the brink of bankruptcy by tying its fortunes to Mitsubishi Motors and Renault.

He has frequently denounced his downfall as a "plot" by Nissan insiders worried he planned to push them into a full partnership with the French firm. 
&nbsp;

Japanese prosecutors Thursday re-arrested Carlos Ghosn on fresh allegations of financial misconduct, as the former auto tycoon slammed an "outrageous and arbitrary" detention and vowed he would "not be broken.

Japanese prosecutors Thursday re-arrested Carlos Ghosn on fresh allegations of financial misconduct, as the former auto tycoon slammed an "outrageous and arbitrary" detention and vowed he would "not be broken." In the early hours, officials raided the central Tokyo apartment the 65-year-old Ghosn has called home since winning bail last month after more than 100 days of detention on different charges. It was the latest twist in a rollercoaster drama that has gripped Japan and the rest of the world since his shock arrest at a Tokyo airport on November 19. Prosecutors said Ghosn had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018. They suspect Ghosn used $5 million of that for personal expenditure. "The suspect... was responsible for overseeing the whole of Nissan's operations and performing his duty loyally so as not to cause losses to Nissan, but he betrayed that duty in order to benefit himself," they said in a statement. Ghosn released a statement through his representatives attacking what he called the "outrageous and arbitrary" detention. "Why arrest me except to try to break me? I will not be broken," said the former high-flying executive. He has denied any wrongdoing and took to Twitter for the first time Wednesday to announce plans to "tell the truth" at an April 11 news conference that now looks unlikely. Prosecutors can hold Ghosn for up to 22 days while they investigate the new claims and may rearrest him again or seek to hold him in pre-trial detention. Deputy chief prosecutor Shin Kukimoto justified the arrest by saying they judged there was a "risk of destruction of evidence". But Ghosn's lawyer Junichiro Hironaka, known as the "Razor" for his mental sharpness, told reporters the fresh arrest was "against the spirit of the law" and "should not be tolerated in a civilised nation." He added his client had expected prosecutors would re-arrest him and had therefore prepared a video, without specifying the contents or exactly when it would be released. Visibly angry, he vowed to fight likely attempts by the prosecutor to extend the detention, claiming the arrest was "not necessary" and designed merely to pile pressure on Ghosn. He added prosecutors had confiscated not only diaries and documents belonging to Ghosn, but also the passport and phone of the tycoon's wife Carole. Carole Ghosn was questioned "without her attorney present, even though she is not targeted in this investigation," the family's French lawyer, Jessica Finelle, told French network BFMTV. 'Combative and innocent' Ghosn already faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders. The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from the company funds. In an interview with French television, Ghosn reiterated he was "combative and innocent" but acknowledged "it's hard." "A lot of lies have been told and these lies have come one after another," he said. Ghosn, who holds French, Brazilian and Lebanese nationalities, appealed to the French government to "defend" him and his "rights as a citizen." French Economy Minister Bruno Le Maire stressed Ghosn "should benefit from the presumption of innocence and consular protection," in an interview with BFMTV. Thursday's arrest came after French car firm Renault, which Ghosn also once headed, handed French prosecutors documents showing the auto tycoon had authorised suspicious transfers worth millions of euros. A Nissan spokesman said the firm's own internal probe had uncovered "substantial evidence of blatantly unethical conduct" and that their focus was on "addressing weaknesses in governance that enabled this misconduct." 'Tell the truth' Ghosn had maintained his silence since paying around $9 million to win bail on March 6 when he walked out of his detention centre dressed in a workman's uniform in a bizarre attempt to evade the world's media. Reports emerged early Wednesday that prosecutors were considering further charges against him whereupon Ghosn suddenly popped up on Twitter to announce he would "tell the truth" about his case. His tweet, which his representatives confirmed was authentic, sparked questions about his bail conditions, which were thought to include a ban on internet use. However, Hironaka insisted his client was acting within his rights, telling reporters: "My understanding is that he's not banned from using the internet" and prosecutor Kukimoto said the arrest had nothing to do with the tweet. Ghosn was largely credited with saving Nissan from the brink of bankruptcy by tying its fortunes to Mitsubishi Motors and Renault. He has frequently denounced his downfall as a "plot" by Nissan insiders worried he planned to push them into a full partnership with the French firm.

Ghosn vows he won't be 'broken' after re-arrest in Tokyo

Japanese prosecutors arrested ousted Nissan Motor Co <a href="https://www.wionews.com/world/ghosn-tweets-about-telling-the-truth-as-report-says-prosecutors-readying-new-case-207655">boss Carlos Ghosn</a> for the fourth time on Thursday, on what media reports said was a new case over improper payments made by the automaker to a dealer in Oman under his watch.

The rearrest, which national broadcaster NHK described as a highly unusual move for someone who has been released on bail, marks the latest dramatic twist in the once-feted executive's fall from grace.

Prosecutors arrested <a href="https://www.wionews.com/world/ghosn-disappointed-at-ban-from-nissan-meeting-wants-to-fulfill-duties-202774">Ghosn on suspicion of aggravated</a> breach of trust, NHK said, after visiting his residence in Tokyo early on Thursday and asking him to submit to questioning. A silver van believed to be carrying Ghosn later left the residence, NHK said.

"My arrest this morning is outrageous and arbitrary," Ghosn said in a statement emailed by a US-based spokesman.

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"It is part of another attempt by some individuals at Nissan to silence me by misleading the prosecutors. Why arrest me except to try to break me? I will not be broken. I am innocent of the groundless charges and accusations against me."

Nissan said it could not comment on judicial decisions or processes.

Footage of the vehicle leaving the residence showed its windows covered with curtains, making it impossible to see who was riding inside. More than a dozen officials from the prosecutors' office had arrived earlier at the residence, NHK reported.

No one was immediately available for comment at the Tokyo prosecutors' office.

The arrest comes just a day after Ghosn pledged on Twitter that he would hold a news conference on April 11 to "tell the truth" about the allegations against him.

"After being wrongly imprisoned for 108 days, my biggest hope and wish today is for a fair trial," Ghosn added in the emailed statement.

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<blockquote class="twitter-tweet" data-lang="en">
I'm getting ready to tell the truth about what's happening. Press conference on Thursday, April 11.
— Carlos Ghosn カルロス・ゴーン (@carlosghosn) <a href="https://twitter.com/carlosghosn/status/1113287847039995905?ref_src=twsrc%5Etfw">April 3, 2019</a></blockquote>
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"I was scheduled to present my story in a press conference next week; by arresting me again, the prosecutors have denied me that opportunity, for now, but I am determined that the truth will come out. I am confident that if tried fairly, I will be vindicated."

Ghosn was first arrested in Tokyo in November and faces charges of financial misconduct and aggravated breach of trust over allegedly failing to report around $82 million in salary and temporarily transferring personal financial losses onto Nissan's books during the financial crisis.

Released on $9 million bail on March 6, Ghosn says he is the victim of a boardroom coup.

Ghosn's lawyer, Junichiro Hironaka, called the latest arrest "inappropriate".

Sources had said earlier this week that Nissan partner Renault SA had alerted French prosecutors after uncovering suspect payments to a Renault-Nissan business partner in Oman while Ghosn was chief executive of the French automaker.

Ghosn's spokesman has previously said payments of $32 million made over nine years were rewards for the Oman firm being a top Nissan dealer. Such dealer incentives were not directed by Ghosn and the funds were not used to pay any personal debt, the spokesman said.

Nissan had previously established its own regional subsidiary made questionable payments of more than $30 million to the Oman distributor, Suhail Bahwan Automobiles (SBA).

Evidence sent to French prosecutors late last week showed that much of the cash was subsequently channelled to a Lebanese company controlled by Ghosn associates, the sources said.

Japanese prosecutors arrested ousted Nissan Motor Co boss Carlos Ghosn for the fourth time on Thursday, on what media reports said was a new case over improper payments made by the automaker to a dealer in Oman under his watch.

Japanese prosecutors arrested ousted Nissan Motor Co boss Carlos Ghosn for the fourth time on Thursday, on what media reports said was a new case over improper payments made by the automaker to a dealer in Oman under his watch. The rearrest, which national broadcaster NHK described as a highly unusual move for someone who has been released on bail, marks the latest dramatic twist in the once-feted executive's fall from grace. Prosecutors arrested Ghosn on suspicion of aggravated breach of trust, NHK said, after visiting his residence in Tokyo early on Thursday and asking him to submit to questioning. A silver van believed to be carrying Ghosn later left the residence, NHK said. "My arrest this morning is outrageous and arbitrary," Ghosn said in a statement emailed by a US-based spokesman. "It is part of another attempt by some individuals at Nissan to silence me by misleading the prosecutors. Why arrest me except to try to break me? I will not be broken. I am innocent of the groundless charges and accusations against me." Nissan said it could not comment on judicial decisions or processes. Footage of the vehicle leaving the residence showed its windows covered with curtains, making it impossible to see who was riding inside. More than a dozen officials from the prosecutors' office had arrived earlier at the residence, NHK reported. No one was immediately available for comment at the Tokyo prosecutors' office. The arrest comes just a day after Ghosn pledged on Twitter that he would hold a news conference on April 11 to "tell the truth" about the allegations against him. "After being wrongly imprisoned for 108 days, my biggest hope and wish today is for a fair trial," Ghosn added in the emailed statement. I'm getting ready to tell the truth about what's happening. Press conference on Thursday, April 11. — Carlos Ghosn カルロス・ゴーン (@carlosghosn) April 3, 2019 × "I was scheduled to present my story in a press conference next week; by arresting me again, the prosecutors have denied me that opportunity, for now, but I am determined that the truth will come out. I am confident that if tried fairly, I will be vindicated." Ghosn was first arrested in Tokyo in November and faces charges of financial misconduct and aggravated breach of trust over allegedly failing to report around $82 million in salary and temporarily transferring personal financial losses onto Nissan's books during the financial crisis. Released on $9 million bail on March 6, Ghosn says he is the victim of a boardroom coup. Ghosn's lawyer, Junichiro Hironaka, called the latest arrest "inappropriate". Sources had said earlier this week that Nissan partner Renault SA had alerted French prosecutors after uncovering suspect payments to a Renault-Nissan business partner in Oman while Ghosn was chief executive of the French automaker. Ghosn's spokesman has previously said payments of $32 million made over nine years were rewards for the Oman firm being a top Nissan dealer. Such dealer incentives were not directed by Ghosn and the funds were not used to pay any personal debt, the spokesman said. Nissan had previously established its own regional subsidiary made questionable payments of more than $30 million to the Oman distributor, Suhail Bahwan Automobiles (SBA). Evidence sent to French prosecutors late last week showed that much of the cash was subsequently channelled to a Lebanese company controlled by Ghosn associates, the sources said.

Nissan ex-boss Carlos Ghosn rearrested for fourth time in Tokyo

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