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Japan prosecutors seek 2 years in prison for ex-Nissan exec Greg Kelly

TOKYO — Japanese prosecutors demanded two years in prison for former Nissan executive Greg Kelly and accused him of joining a “conspiracy” to pay his former boss Carlos Ghosn illicitly in closing arguments Wednesday in a yearlong trial. “That unpaid compensation existed is clear,” prosecutor Yukio Kawasaki told the Tokyo District Court, reading briskly from a thick document. Kelly, a 30-year veteran at the Japanese automaker, was living in the U.S. when he was arrested in November 2018 upon returning to Japan to attend a meeting. The first American to be appointed to NissanÂ’s board, Kelly says he is innocent. He sat calmly in the courtroom, wearing his usual red tie and dark suit, alongside defense lawyers. Everyone in the courthouse was wearing a mask because of the pandemic. Kelly told The Associated Press in an interview last month he did not know all the details of GhosnÂ’s pay. He was determined to retain Ghosn, Nissan's former chairman, because of his extraordinary management skills and wanted to pay him in a legal way, he said. Ghosn was arrested at the same time as Kelly and also maintains he is innocent. He skipped bail in late 2019 and fled to Lebanon, the country of his ancestry. It has no extradition treaty with Japan. The charges center around a pay cut of about 1 billion yen ($10 million) a year that Ghosn voluntarily started taking from 2010, halving his pay after disclosure of high executive pay became mandatory in Japan. Nissan Motor officials considered various ways to make up for the money Ghosn gave up, such as paying him consulting fees after retirement. They also mulled other methods such as payments through subsidiaries and stock options. Nothing had been paid at the time of the arrests. The contention is over whether that money should have been reported as compensation as a de facto promised sum under a binding contract, or didnÂ’t need to be disclosed until it was finalized. Ghosn has said a group at Nissan engineered his arrest because they feared that French automaker Renault, which owns 43% of Nissan, would gain more control over the company. Other Nissan officials made similar comments during KellyÂ’s trial. Renault sent Ghosn to Nissan in 1999 to lead its rescue from the brink of bankruptcy. He successfully steered the maker of the Leaf electric car and Infiniti luxury models for nearly two decades.

Nissan really milking this whole glow-in-the-dark Leaf thing

With the all-electric Nissan Leaf forgoing gas in favor of electricity, one doesn't generally associate the Leaf with anything involving "gallons." But the Japanese automaker has apparently gone all-in with this glow-in-the-dark paint shtick, and it has a Guinness World Record to prove it. For art's sake. Artist Ian Cook, of Popbangcolour, set out to create the world's largest glow-in-the-dark painting, and got a little help from a Leaf equipped with special paint that absorbs ultraviolet energy during the day, and can glow for as long as 10 hours at night. With the paint applied to the car's tires, the vehicle helped draw, yes, a "self-portrait." The painting, which took more than two days to complete and about 16 gallons of luminous acrylic paint on a giant PVC-coated canvas, measures more than 2,200 square feet, beating out the previous record of about 1,800 square feet set early last year. Earlier this year, Nissan started publicizing its work with inventor Hamish Scott at creating a special coating that gives that glow-in-the-dark effect and is even fully organic. The same type of paint was used along about a third of a mile along a Dutch "Smart Highway" whose stripes absorb rays during the day and glow at night. Cool. To see the nighttime friendly Leaf in action, take a look at Nissan's 84-second video about the big painting here and read Nissan's press release below. Glow-in-the-dark Nissan LEAF breaks Guinness World Records title for "Largest Glow-in-the-Dark Painting" Nissan uses glow-in-the-dark Nissan LEAF to achieve Guinness World Records title for the Largest Glow-in-the-Dark Painting title Artist Ian Cook, of Popbangcolour, used the tires of the LEAF to drive the glow-in-the-dark paint across the canvas Guinness World Records has confirmed that the painting, measuring 207.68m2, has broken the previous existing "Largest Glow-in-the-Dark Painting" Guinness World Records title LONDON – Nissan has broken the Guinness World Records title for the Largest Glow-in-the-Dark Painting by using the glow-in-the-dark Nissan LEAF to paint a 207.68m2 self-portrait of the 100-percent electric car. The painting, which depicts the front of a Nissan LEAF, was created by maverick motoring artist Ian Cook of Popbangcolour.

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.