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Mitsubishi Motors shareholders approve ouster of Ghosn

TOKYO — Mitsubishi Motors Corp. shareholders approved on Friday the ouster of Carlos Ghosn, who was pivotal in the Japanese automaker's three-way partnership with Nissan and Renault until he was arrested on financial misconduct charges last year. The vote took place in a two-hour general meeting of shareholders at a Tokyo hotel. Nissan Motor Co. owns 34% of Mitsubishi Motors. Osamu Masuko, who was reappointed chairman, promised to strengthen governance and transparency and monitor wrongdoing. More outsiders will check executive appointments and compensation, he said. Nissan shareholders held an extraordinary shareholders' meeting in April to oust Ghosn as chairman. He resigned from French alliance partner Renault SA. The Mitsubishi shareholders also approved the appointment of Renault's chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43% of Nissan. Nissan, based in the port city of Yokohama, is holding a general shareholders' meeting next week to approve other measures, including setting up committees to strengthen governance. Nissan said late Thursday two Renault executives will be on the committees. Renault earlier said it would abstain in that vote, and the greater representation promised on the committees may gain Renault's approval. Renault said in a statement that it welcomed Nissan's decision but did not say how it planned to vote. "The agreement reached on Renault's presence in Nissan's new governance confirms the spirit of dialogue and mutual respect that exists within the alliance," it said. Some analysts suggest a deepening rift between Renault and Nissan after a planned merger between Renault and Fiat Chrysler fell through earlier this month. Nissan expressed reservations about immediately joining the merger. Masuko told shareholders the auto industry faced challenges because of the costs of advancements such as emissions standards and self-driving technology. He said the Tokyo-based automaker will pursue focus over expansion, repeatedly highlighting the company motto "small but beautiful." He also stressed the importance of auto alliances. "We want to be a profitable company even if smaller in scale," he told shareholders. One Mitsubishi Motors shareholder expressed anger over the Ghosn scandal. But most of the questions were about new models and market strategy.

Tokyo court rejects Carlos Ghosn's bail request

TOKYO — A Tokyo court rejected former Nissan chairman Carlos Ghosn's latest request for bail on Tuesday, more than two months after his arrest. A statement from the Tokyo District Court announcing its decision gave no explanation for prolonging a detention of the 64-year-old executive, which has drawn international scrutiny of Japan's justice system. Ghosn had promised to wear an electronic monitoring ankle bracelet, give up his passport and pay for security guards approved by prosecutors in his latest attempt to gain release from a Tokyo detention center. His family said they will appeal. Ghosn has been in custody since Nov. 19. He had a bail hearing Monday. A Tokyo court rejected an earlier request for bail last week. Ghosn, who led Nissan Motor Co. for two decades, has been charged with falsifying financial reports in underreporting his compensation from Nissan over eight years, and with breach of trust, centering on allegations Ghosn had Nissan temporarily shoulder his personal investment losses and pay a Saudi businessman. Ghosn has said he is innocent, explaining that the alleged compensation was never decided, Nissan didn't suffer losses and the payment was for legitimate services. His wife, Carole Ghosn, appealed for his release through Human Rights Watch earlier this month, saying Ghosn's treatment has been harsh and unfair. Her views echo widespread criticism of Japan's criminal justice system both inside and outside Japan. Suspects who insist they are innocent get held longer. Suspects are held in a cell and routinely grilled daily by investigators without a lawyer present, although lawyers are allowed to visit. Ghosn's lawyer Motonari Ohtsuru has acknowledged Ghosn's release may not come until the trial, which may be six months away. A date for the trial has not been set. Nissan officials say an internal investigation has found that Ghosn had schemes to hide his income and that he used company money and assets for personal gain. A special committee Nissan set up after Ghosn's arrest to strengthen governance held its first meeting Sunday. Seiichiro Nishioka, a former judge and co-chair, told reporters after the meeting that Ghosn had shown questionable ethics, and too much power within the company had been focused in one person. The committee's findings are due by late March. Ghosn's pay was long a sticking point in Japan, where executives generally get paid far less than their American and other Western counterparts.

Mitsubishi D:X Concept previews the next Delica off-road van

Besides the Montero/Pajero and the Lancer Evo, perhaps Mitsubishi's most famous model is the Delica. It's a minivan, but it also has serious off-road chops, and it has had them for decades. At the Japan Mobility Show, Mitsubishi showed the D:X Concept, which is a look a the future of the go-anywhere van. The look is almost that of a steroidal VW I.D. Buzz, but it works. It's chunky and aggressive, and of course it has huge tires. The single-box shape is a longstanding tradition of the Delica line for maximum interior space. Noteworthy are the laser headlights. The vertical sections can project lines ahead of the vehicle to help provide an idea of the vehicle width against the environment in tricky maneuvering at night. The interior features three rows of seats, and the seats can slide and swivel for a variety of configurations. Particularly interesting is the lack of a dashboard, as well as anything ahead of where the dash would be. Instead, a glass panel for the grille and a giant screen showing what's under and ahead of front of the vehicle take up the space. This allows for phenomenal forward visibility, especially useful off road. There is a small dash ahead of the driver and the steering wheel that blends into the door, and this is where instrumentation is displayed. Occupants also can enjoy a Yamaha-tuned sound system. Mitsubishi didn't go into much detail on the powertrain. It's a plug-in hybrid, and we wouldn't be surprised if it operates as a series hybrid like the Mitsubishi Outlander PHEV. And that of course means that the D:X still powers all four wheels, as a Delica should. Mitsubishi also didn't share any sort of production plans. But we expect that a new Delica is on the way that will at least look a lot like this concept, even if some features such as the dash-free interior might not make it. Sadly, we don't expect it to come to America, just like the current Delica. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.