Nissan was fined for concealing reports of Ghosn and other executives earning
Japan ’s Financial Services Agency said on February 28 that Nissan Motor Co. imposed a fine of 2.42 billion yen (approximately 157 million yuan) on Nissan Motor Co. for reporting earnings of its former chairman Carlos Ghosn and several executives for many years. Nissan said on the same day that it would be "sincerely" punished.
The number of fines is huge and ranks second among all fines issued by the Japan Financial Services Agency, just after 2015. Toshiba Japan was fined 7.37 billion yen (477 million yuan) for providing false financial reports.
Data map: Carlos Ghosn, former chairman of Nissan Motor Company.
The Japanese Securities and Exchange Commission filed a criminal lawsuit against Nissan and Ghosn in 2018, and in December of that year recommended that the Japanese Financial Services Agency impose a fine on Nissan. The Securities and Exchange Commission said that Nissan “understated” 9.1 billion yen (589 million yuan) in salaries received from Nissan for the eight years to March 2018.
Japan's Kyodo News reported in December 2018 that a person familiar with the case was used as the source. Ghosn and another Nissan executive confessed at the time that the part that was not reported was Ghosn's severance pay, and the amount was not determined at the time, so no records were required. However, according to several internal documents, the special search department of the Tokyo local prosecutor's office determined that Ghosn had already agreed on the amount of severance pay and Nissan.
Kyodo News reported on February 28 that fines for Nissan were initially expected to reach 4 billion yen (259 million yuan). Nissan requested a reduction in fines on the grounds that Nissan reported a concealment before the investigation was fully launched, and the Securities and Exchange Commission accepted the request and lowered the recommended fine.
Ghosn was born in Brazil in 1954. He is of Lebanese descent and studied in France. He has the nationalities of Brazil, France and Lebanon. Because of his outstanding business ability, he was hired by French Renault as a vice president in 1996. He took over Nissan in 1999 and became chairman of Japan's Mitsubishi Motors in 2017. He became the executive of three auto companies and took charge of Renault-Nissan-Mitsubishi. alliance.
In November 2018, Ghosn was arrested in Tokyo, the capital of Japan. He has been accused by various Japanese prosecutors, including misappropriation of public funds, concealment of income, transfer of personal investment losses to enterprises, and serious breach of trust. Ghosn denied all allegations and was released on bail pending trial in April 2019. Bail conditions include monitored activities and non-departure. The trial was originally scheduled to begin in April this year, but Ghosn managed to escape to Lebanon late last year, and then held a press conference there, bombarding the Japanese judiciary "injustice" against him.
Japan and Lebanon have not signed an extradition agreement. The Japanese government said on February 28 that Hirosuke Yoshiya, Deputy Minister of Justice, will be sent to Lebanon to discuss the possibility of transferring Ghosn. (Gu Ziyu) (Xinhua News Agency Special Feature)