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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.

Nissan is optimistic about FCA partnership, but wants the right terms

BEIJING – Nissan is optimistic about partnering with a combined Renault and Fiat Chrysler (FCA), as long as it can protect the ownership of technology developed over two decades of working with Renault, a senior executive told Reuters. The executive, who declined to be identified because he is not authorized to speak to the media, said he was cautiously optimistic about the possibility of generating "synergies" by sharing Nissan's autonomous drive know-how, electrification and greenhouse-gas-scrubbing technologies for powertrains. But he said the possible $35 billion merger of Renault and FCA would not give FCA the automatic right to use those technologies, which it needs to meet stringent emissions regulations and better compete in a industry being transformed by electric vehicles. He also floated the possibility that Nissan could look at boosting its stake in Renault, or a merged Renault-FCA, to gain more say in shaping the future of the alliance. "We would go ahead with partnering or cooperating with FCA only if we can guarantee tangible benefits from sharing technologies with FCA and only if we can work out conditions that are satisfactory to us," the Yokohama-based executive said. "If Renault wants to pursue this deal, we feel we need to look seriously at supporting them," he said. The executive's comments highlight how Nissan could look to leverage its advanced technology to gain greater bargaining power with a merged Renault-FCA. Renault is Nissan's top shareholder with a 43.4% shareholding, while Nissan holds a 15% non-voting stake in the French automaker. That unequal partnership has long rankled Nissan, which is the bigger company by far. A Nissan spokesman referred Reuters to a statement issued on Monday, where Nissan Chief Executive Hiroto Saikawa said: "I believe that the potential addition of FCA as a new member of the alliance could expand the playing field for collaboration and create new opportunities for further synergies." "That said, the proposal currently being discussed is a full merger which — if realized — would significantly alter the structure of our partner Renault. This would require a fundamental review of the existing relationship between Nissan and Renault," Saikawa said, adding that Nissan would analyze and consider its "existing contractual relationships". BOOSTING STAKE?

Nissan Murano hybrid greens up Shanghai

Nothing says summertime like a muscle car with a ragtop. Or, in China's case, a hybrid crossover SUV, right? So it's a good thing Nissan plans on starting sales of a hybrid variant of its Murano in China for the upcoming warm weather season. Nissan showed off the Murano Hybrid at the Shanghai Motor Show with a supercharged engine that is paired with an electric motor. The company says the powertrain will deliver the fuel economy of a 2.0-liter engine and the power of a 3.5-liter V6 engine. Nissan didn't release actual specs of the engine nor any fuel-economy figures. Back in 2013, Nissan was working on expanding its hybrid choices, including hybrid variants for both the Murano and the Rogue. This powertrain choice makes some sense, since it could be difficult to wring a decent single-charge range out of those relatively heavier vehicles if they were all-electric. With that in mind, take a look at Nissan's press release below. NISSAN APPEALS TO CHINESE WITH TWO WORLD PREMIERES: LANNIA AND MURANO HYBRID AT AUTO SHANGHAI 2015 Lannia makes global debut to capture the hearts of young Chinese customers All-new Murano Hybrid offers excellent fuel economy and driving performance in the luxury SUV segment Customers in China can begin ordering GT-R Nismo and 370Z Nismo today SHANGHAI, China (April 20, 2015) – Nissan unveiled two all-new production models, Lannia and Murano Hybrid, along with two Nismo products, GT-R Nismo and 370Z Nismo, at Auto Shanghai 2015. "These innovative vehicles represent the start of an exciting new chapter in the story of Nissan's presence in, and commitment to, China," said Nissan President and CEO Carlos Ghosn. "Nissan's growth strategy in China will continue to reflect our commitment to use local engineering and manufacturing. And we will maintain our support for China's efforts to promote more efficient and sustainable transportation. On both of these fronts, Lannia and Murano Hybrid will lead the way forward." Highlights of the Nissan display: Building on Nissan's longstanding success in the sedan market, Lannia delivers a fresh, distinctive personality that China's young generations embody. As the first product developed and designed for the young Chinese generations, especially those in their 20s and 30s today who are seen as energetic trendsetters, Lannia is a tangible expression of the company's commitment to China.