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Auditor had questioned Nissan on payments in Ghosn scandal, source says

TOKYO — Nissan's auditor had repeatedly questioned transactions at the heart of allegations of financial misconduct by former chief Carlos Ghosn, but Nissan said they were proper, a person with direct knowledge of the matter said on Wednesday. Ernst & Young ShinNihon LLC questioned Nissan's management several times, chiefly around 2013, about purchases of overseas luxury homes for Ghosn's personal use and of stock-appreciation rights that were conferred on him. But the Japanese automaker said the transactions and financial reporting were appropriate, the source told Reuters on condition of anonymity. The revelation shows Nissan and its auditor were discussing the transactions, in apparent contrast with Nissan's contention that the alleged misreporting of benefits for Ghosn was masterminded by Ghosn and a key lieutenant. A spokesman for EY ShinNihon, the Japanese affiliate of global accounting firm Ernst & Young, said he could not comment on specific cases. A Nissan spokesman declined to comment. Ghosn was arrested on Nov. 19 as he arrived in Japan. Prosecutors accuse him of falsifying Nissan's annual reports to understate by about half his total compensation of some 10 billion yen ($90 million) over several years. The high-profile former executive has denied the allegations, according to Japanese media. Ghosn remains in custody and is unable to speak publicly. He is represented by former prosecutor Motonari Otsuru, according to Japanese media. Otsuru's law firm declined to comment on Wednesday, and Otsuru has not responded to requests for comment. Nissan has largely pinned the blame on Ghosn and Greg Kelly, a former representative director who was arrested along with Ghosn on the same allegations. "As a result of the investigation, we are certain these two are the masterminds," CEO Hiroto Saikawa told a news conference on Nov. 19, referring to Ghosn and Kelly. He declined to say whether others at Nissan were involved in the alleged wrongdoing. An internal investigation is ongoing, and Nissan says it is cooperating with prosecutors. Nissan and Mitsubishi Motors have removed Ghosn as chairman in the wake of his arrest. The French member of the three-firm alliance, Renault, retains him as chairman and CEO.

Nissan cooks up throwback livery for Le Mans

Nissan may not have won the overall 24 Hours of Le Mans before – Mazda remains the only Japanese automaker to have done so – but when it returns to Le Mans this year, it will be armed with other bragging rights. And it's that past accomplishment that Nissan is celebrating with this throwback livery. Twenty-five years ago, Mark Blundell set a blistering qualifying lap in the No. 24 Nissan R90CK, lapping La Sarthe in 3:27.020. That was enough to put the Datsun on pole for the race, and though it never made it to the finish line, it set a record that stands to this day when it hit 227 miles per hour on the Mulsanne straight – even with the chicanes in place. That car wore a blue livery with white and red that still holds a place of honor in the hearts of racing fans. So to mark its return to Le Mans a quarter century later, Nissan is decking out its new GT-R LM Nismo in a tribute livery that will be worn by the third entry the company will be fielding in the race. Nissan celebrates 1990 pole lap of Le Mans with retro livery for LM P1 car LE MANS, France – Nissan today revealed a very special livery that will feature on the No.21 Nissan GT-R LM NISMO at Le Mans. Exactly 25 years ago, at the peak of the Group C era, Mark Blundell put the Nissan R90CK on pole position with a stunning 3:27.020 lap of the Le Mans circuit. The No.21 Nissan GT-R LM NISMO is Nissan's third LM P1 car that will be raced by current Super GT Champion Tsugio Matsuda (JAP) and two winners of GT Academy, Lucas Ordonez (ESP) and Mark Shulzhitskiy (RUS). The No.24 Nissan R90CK will also appear at Le Mans in a special parade to mark the anniversary of the pole lap in the hands of the man who took it to the top of the tables 25 years ago, Mark Blundell. The 1100bhp car may not reach speeds of 366 km/h (227 mph) as it did in 1990, but it is certain to grab everyone's attention. "That lap of Le Mans is certainly a very fond memory for me," said Blundell. "It was one of those moments where time stood still and everything went perfectly. You remember those moments, as they don't happen all that often. It's great to see Nissan celebrating that time with the retro livery on the #21 Nissan GT-R LM NISMO. I can't wait to see it on track at Le Mans." "Our racing heritage is hugely important to us," said Darren Cox, Global Head of Brand, Marketing & Sales, NISMO.

Formula Drift kicks off 11th season on Streets of Long Beach

The 2014 Formula Drift series kicked off last weekend in Long Beach, and saw Chris Forsberg, who you'll recall went mad and drifted around a warehouse in an Infiniti M, take the title behind the wheel of his Hankook Tire Nissan 370Z (shown above).
Forsberg really ran away with the first round of competition, outscoring his closest opponent, second-place finisher Kenneth Moen and his Bridges Racing Nissan 240SX, by 20 points. Third place was 2013 championship winner Michael Essa and his Yokohama BMW M3, 30.5 points behind Forsberg.
In the manufacturers' title, Nissan took an early lead with 122 points, which isn't a huge surprise considering five of the top ten drifters were piloting either a Z or a product of the brand's S platform. Ford, which had two drivers (Justin Pawlak and Vaughn Gittin, Jr.) in the top ten, took home second place, while BMW is currently third in the manufacturers' standings.