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Court rejects Carlos Ghosn's request to attend Nissan board meeting

TOKYO — A Japanese court has rejected a request by former Nissan chairman Carlos Ghosn, released on bail last week, to attend the Japanese automaker's board meeting on Tuesday. Nissan dismissed Ghosn as chairman after his Nov. 19 arrest, but he remains on the board. The Tokyo District Court said it rejected Ghosn's request on Monday but did not elaborate on the reasons. It had been unclear whether Ghosn could attend the board meeting. The court's approval was needed based on restrictions imposed for his release on bail. The restrictions say he cannot tamper with evidence, and attending the board meeting could be seen as putting pressure on Nissan employees. Prosecutors had been expected to argue against his attendance. They were not available for immediate comment. Ghosn has been charged with falsifying financial reports in underreporting his compensation and breach of trust in making payments to a Saudi businessman and having Nissan shoulder investment losses. He insists he is innocent, saying the compensation was never decided or paid, the payments were for legitimate services and Nissan never suffered the losses. Since his release on March 6 from Tokyo Detention Center on 1 billion yen ($9 million) bail, he has been spotted taking walks in Tokyo with his family, but he has not made any comments. His attempt to exercise what his lawyer, Junichiro Hironaka, called his "duty" by attending the board meeting signals one way he may be fighting back. Hironaka has said Ghosn will speak to reporters soon. A date for a news conference has not been announced. Nissan said Monday that Renault Chairman Jean-Dominique Senard, Renault Chief Executive Thierry Bollore, Nissan Motor Co. CEO Hiroto Saikawa, and Osamu Masuko, the chairman and CEO of Mitsubishi Motors Corp., will hold a joint news conference Tuesday after the board meeting. Nissan appears determined to highlight new leadership without Ghosn. It is part of an alliance with Renault SA of France, and more recently with Japan's Mitsubishi Motors, that was largely cobbled together by Ghosn, who led Nissan for two decades. Nissan, which makes the March subcompact, Leaf electric car and Infiniti luxury models, has denounced Ghosn for alleged misconduct. A decision at a shareholders' meeting is needed to remove Ghosn from the board. A shareholders' meeting is scheduled for next month.

Carlos Ghosn asks why Japanese don't question him in Lebanon

BEIRUT — Former Renault-Nissan boss Carlos Ghosn said in an interview aired Monday that French investigators are coming to question him in Lebanon over some legal challenges in France, asking why don't the Japanese do the same thing. GhosnÂ’s comments came two weeks after a Lebanese justice ministry official said a team of French investigators will come to Beirut in January to participate in interrogating the former auto executive. Ghosn, who is a Lebanese, Brazilian and French national, fled Japan in a dramatic escape that drew headlines in late 2019, arriving in Lebanon on Dec. 30 of that year. In addition to his trial in Japan, the 66-year-old businessman is facing a number of legal challenges in France, including tax evasion and alleged money laundering, fraud and misuse of company assets while at the helm of the Renault-Nissan alliance. Ghosn said there is neutrality in Lebanon, where he has been living since fleeing Japan, adding that Lebanese authorities have asked Japanese officials to send the charges against him but Tokyo did not. “What does that mean?” asked Ghosn insisting that he is innocent and was the victim of JapanÂ’s judicial system. “Now the French have charges,” Ghosn said. “They (French) are coming and they will question me. The Japanese are not doing this.” “I consider all the charges to be false,” Ghosn said. After leading the Japanese automaker Nissan for two decades, Ghosn was arrested in Japan in November 2018 on charges of breach of trust, misusing company assets for personal gains and violating securities laws by not fully disclosing his compensation. He denied wrongdoing and fled Japan while out on bail awaiting trial. He is unlikely to be extradited from Lebanon, where he has been since last year. Ghosn said in the interview with the local LBC TV that Lebanon, which is passing through its worst economic and financial crisis in its modern history, “proved that it protects it citizens.” He added: “I am a French citizen, and the French state did not defend me.” At least two Ghosn-related investigations were opened in France. One focused on suspicious transactions between Renault and a distributor in Oman, as well as suspected payments for private trips and events paid by Renault-NissanÂ’s Netherlands-based holding company RNBV. Another investigation focused on suspected misuse of company funds for a party for Ghosn at Versailles.

Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — 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 apologized and vowed to return any improperly paid money 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.