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Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.

'Nothing is blocking' Nissan alliance talks, says Renault chairman

TOKYO — Nothing is blocking discussions between Nissan and Renault over the future of their alliance and the two companies will have "important talks" on Tuesday and Wednesday, the French automaker's chairman said in Tokyo. Speaking at an event on Tuesday, Renault SA chairman Jean-Dominique Senard touted the Franco-Japanese alliance, which has been discussing ways to revamp the relationship. The companies had initially set Tuesday as a deadline to hammer out a deal. However, the discussions have taken longer than originally expected due to Nissan's concerns about how its intellectual property rights can be protected as Renault forges new ties with China's Geely, sources have told Reuters. Renault last week unveiled a sweeping overhaul of its businesses, saying it would set up a joint venture with Geely for gasoline engines and hybrid technology and spin off its electric vehicles unit next year. It wants Nissan to invest in the new electric unit. The companies are also renegotiating their equity ties, which currently see Renault owning a controlling 43% of Nissan and the Japanese company holding only a 15% non-voting stake in Renault. "Nothing is blocking" the discussions, he told reporters after the event, declining to say when the alliance members would reach a deal and adding "you will be informed on time." "As the chairman of this alliance, I've never lived such a warm atmosphere within the alliance and this bodes well for the future."   Green Mitsubishi Nissan Renault

48-MPG Nissan X-Trail Hybrid comes to Japan

Next month, Nissan will start selling a hybrid version of its X-Trail compact crossover in Japan. While the Japanese automaker is touting all the bells and whistles like "Intelligent Parking Assist," the model really makes its mark in fuel economy figures. The marquee number is 20.6 kilometers per liter, or about 48 miles per gallon. This is using the more lenient Japanese driving cycle, but it's still something to be proud of. The model also delivers more torque than that typically generated by a 2.5-liter engine while cutting nitrogen oxide emissions by 75 percent relative to the standard gas-powered version. In fact, the X-Trail Hybrid will generate tax exemptions because of its high fuel economy. The model's price in Japan will range from about $23,300 for the base two-wheel-drive version to about $27,000 for the top-of-the-line all-wheel-drive version. The Nissan X-Trail Hybrid goes on sale in Japan May 13. We'd first reported on the X-Trail when it was unveiled at the Frankfurt Motor Show in September 2013, noting at the time that the car's styling was identical to that of the Nissan Rogue. Take a look at Nissan's press release for the X-Trail is available below. Nissan Releases New X-TRAIL HYBRID YOKOHAMA, Japan (April 7, 2015) - Nissan Motor Co., Ltd. today announced the launch of the new Nissan X-Trail Hybrid, which goes on sale on May 13, 2015 at Nissan dealers throughout Japan. The current generation X-Trail has garnered good reviews from customers for its excellent driving performance, realized by features such as its ALL MODE 4X4-i system and advanced chassis control technologies that have been adopted as world-firsts – as well as a variety of safety features such as Emergency Brake and Around View Monitor with Intelligent Parking Assist. Equipped with the 2.0-liter MR20DD hybrid engine that enables both driving and environmental performance, the new X-Trail Hybrid delivers a comfortable driving experience with its powerful acceleration and remarkable quietness, which eclipse those of typical 2.5-liter gasoline engines. In addition, all the grades achieve tax exemptions. In addition, the new X-Trail Hybrid will have Forward Emergency Braking as standard equipment, expanding its safety technology features. Nissan is planning to introduce Forward Emergency Braking as standard on major models in Japan, by the end of autumn 2015.