Nissan Chief Executive Hiroto Saikawa Photo: AP file
business

Proxy company advises Nissan shareholders to vote against Saikawa

33 Comments
By Yuri Kageyama

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33 Comments
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I wholeheartedly support the motion!

0 ( +0 / -0 )

Sadly any investigative Journalism over this issue in Japan will be stifled due to the recent changes in the Law., particularly since this situation has Political ramifications. Geez, just by making this statement I may be arrested!

0 ( +1 / -1 )

well if that eveidence you seem to think is rock solid then why the need to keep Ghosn imprisoned for 2 month and force a confession from him

You're loosing the plot.

The advisors are making a tenuous connection of wrong doings inorder to call for Saikawa's sacking, nothing to do with arrest, or detention.

BTW, your anger at the justice system also has nothing to do with the reports.

A bigger issue is why one of them released the report to the press, it's for shareholders, and I'd have to question the integrity of the firm that released to the media.

-4 ( +0 / -4 )

History is a very valuable issues in life & companies but this time everyone , is correct Nissan needs to break with the past where saikawa is involved. with saikawa, who has no intergrity , Nissan is doomed to fail if saikawa remains in Nissan or anywhere near Nissan. He is very very bad news & example.

1 ( +2 / -1 )

At last, some people woke up. saikawa is a trouble maker and a time waster, he spends his time making trouble for Nissan instead of doing his job. There are many salarymen like him. I have 2 in my office like him. Always wasting time and making hard-working honest kind people upset. This world , do not need such types.Nissan is wasting share-holders money keeping him. I fully agree with the proxy.

1 ( +2 / -1 )

yeah right go tell that to Canada and Hong Kong. They would...

referring to business not politics

2 ( +3 / -1 )

Meanwhile... Nissans stock price continues to tank: https://finance.yahoo.com/quote/NSANY

2 ( +3 / -1 )

$USD 100 millions or so unreported remuneration is not flimsy, that's the point of it all isn't it?

well if that eveidence you seem to think is rock solid then why the need to keep Ghosn imprisoned for 2 month and force a confession from him. If the prosecutors had the smoking gun so many people seem to think they have then a confession owuldnt be nessasary, present that evidence to a judge/jury and a conviction would be assured. I personally couldnt care less if Ghosn is guily or not Im just angry at the corrupt immoral way the Japanese legal system goes about abtaining it. Lets not forget this same system affects all peeple in Japan and the number of wrongfully convicted based on a forced confession is proof of that.

2 ( +3 / -1 )

He has said that instead of stepping down from his post he believes he should stay on to help fix the problems with its governance that contributed to the alleged problems with Ghosn.

he can find work washing the cars and going on the assembly line? or wax the shoes of the nationalist shareholders perhas

2 ( +3 / -1 )

Saikawa needs to go along with the nationalist cheerleader team, in order to revive the titanic, who wants togive upthe Fiat buy out... stupid

4 ( +5 / -1 )

they kicked Ghosn out with what seems flimsy evidence and Nissan sales plummeted because of this

Only if you want to speculate, surely as an expert consultant GL & ISS should provide more than a hunch?

$USD 100 millions or so unreported remuneration is not flimsy, that's the point of it all isn't it? Now let's speculate how talented Saikawa san is, is he good enough to conceal ill gotten gains, say even half of Ghosn's, nothing, even with all the enquiries going on. Zilch.

Now had there been similar under reporting for Saikawa as well, then the advisors' rationale will have more weight. But nothing exists.

Now, you add the fact one of them has released its report to the press...snakes....ladders.

-6 ( +0 / -6 )

There has been various comments about his ability to remember things, I thank that's called selective amnesia.

6 ( +6 / -0 )

"China does global very well"

yeah right go tell that to Canada and Hong Kong. They would...

LOL LOL

-2 ( +2 / -4 )

Japan inc. does not do global, has never done so, and won't started now. 

China does global very well and that is why it is leaving Japan in the dust and Japan is stuck in the past

2 ( +3 / -1 )

I am not defending Saikawa, I am saying he is such an enigma, the urge to oust him when reform is underway carries huge risks.

they kicked Ghosn out with what seems flimsy evidence and Nissan sales plummeted because of this. If Nissan is set on a purge then it makes sense to purge those associated with the corporate coup also, that would be the real reform Nissan needs.

2 ( +3 / -1 )

LOL!

4 ( +4 / -0 )

and may have signed off on Ghosn's compensation.

"may have"? It's there in black-and-white. You can argue whether he understood what he was signing, but it is a fact that he did sign it, representing that the information submitted was "accurate".

4 ( +4 / -0 )

A first step in improving their appalling corporate governance, and a highly visible one. But many of these shareholders do not think the same way as these overseas companies, and they note that Ghosn was technically Saikawa's boss, so he may have just been following orders. Saikawa may have behaved like a snake, as others have noted, but he is at least a known quantity to them; a new CEO from inside the company or even an outsider might not be an improvement. Tough call!

-3 ( +1 / -4 )

Even if he gets sacked, its too little too late

Agree with this. What's the benefit in sacking him now? None, other than payback for those who oppose his faction. Shareholders gains nothing.

It's all fluid isn't it, it doesn't make things good, permanently. Does sacking him changes course? No one knows, yet.

IMHO, if there's a Japan Inc director out there that carries the moral compass flag, then that person should decide when and how Saikawa should be sacked and brought to justice. But as far as I can see, ir's a snake pit that stretches accross continents, Saikawa is just one of many snake, if that's how he is to be characterised.

-6 ( +1 / -7 )

Damn! Now that's an open hand slap to the face!

2 ( +2 / -0 )

Even if he gets sacked, its too little too late. He should go the same route as Ghosn.

6 ( +7 / -1 )

@since81

Cos he would have to spend time with his wife... Kakadenka

7 ( +7 / -0 )

Any chance the proxy companies are related to Ghosn wife/son?

-11 ( +1 / -12 )

His hands are just as dirty in this situation as anyone else’s.

Yes, it's very plausible, but it's also typical in Japanese corporate intrigues that a ninja who diligently work for a samurai disagrees with him privately.

Japan inc. does not do global, has never done so, and won't started now. Only time will tell Saikawa's true role in all this.

-5 ( +1 / -6 )

That is the smartest thing I’ve heard in a while when it concerns this entire Nissan situation.

I'll second that.

Snakeawa needs to go!

7 ( +8 / -1 )

And the idea that sacking Saikawa will somehow impede reform is laughable. Saikawa's actions are a pure smokescreen, with one goal in mind: to evict Renault from any meaningful control over or say in Nissan's day-to-day management.

And is there any evidence, or rationale for representing that the rest of the board (possibly Japan autos) doesn't have the sole objective of diminishing Renault's involvement in Nissan also? If the board is balanced and on the right trajectory, why do anything?

All the advisors have done is play nicely with the system, to understand is to be able to illustrate in a clear and forceful way 'life after Saikawa'. They haven't done that, if anything, it all looks like advice for fees. Global consultings has never understood Japan, some are even very misunderstood by Japan inc. I've experienced both sides of the coin.

I am not defending Saikawa, I am saying he is such an enigma, the urge to oust him when reform is underway carries huge risks.

-13 ( +1 / -14 )

That is the smartest thing I’ve heard in a while when it concerns this entire Nissan situation.

Its not about him being a backstabber. It’s the fact that he’s worked alongside Ghosn for over a decade and also never once saw anything wrong in this entire supposed situation. His hands are just as dirty in this situation as anyone else’s.

14 ( +15 / -1 )

I don't think these advisory companies sufficiently understands how Nissan operated under Ghosn, nor the intricacies of Saikawa's role in all this to be making this call. It could result in the reform momentum slowed or stopped altogether.

Actually, if you knew anything about ISS and the work it has done in Japan in relation to corporate governance and if you knew anything about how well educated they are on the intricacies of Japanese companies and their management, you wouldn't make this statement.

It is precisely because they DO understand how things have worked at Nissan that they are making these recommendations.

And the idea that sacking Saikawa will somehow impede reform is laughable. Saikawa's actions are a pure smokescreen, with one goal in mind: to evict Renault from any meaningful control over or say in Nissan's day-to-day management.

16 ( +16 / -0 )

Get him out, he is a snake and claims not remembering signing anything.... what kind of CEO is that? signs anything without checking?

14 ( +15 / -1 )

Don't understand these old guys. His income was 500,000,000JYP last year. That is more than I made in last 50 years!! Most of these oyajis are of retirement age. I'm sure they have more than enough to really enjoy the rest of his life. So why stay and put up with all the stress and hassle? Make way for the next generation.

16 ( +16 / -0 )

Saikawa the snakes gotta go!!! Hope he feels the shame he deserves.

11 ( +13 / -2 )

I don't think these advisory companies sufficiently understands how Nissan operated under Ghosn, nor the intricacies of Saikawa's role in all this to be making this call. It could result in the reform momentum slowed or stopped altogether.

Japanese business/corporate culture is still very much a samurai culture, unless these advisors truely understand the role ALL directors play, removing Saikawa could unbalance the reform forces currently in play.

-18 ( +1 / -19 )

So now who is going to back the back-stabber? Looks to me like Nissan now has it's fall guy for the charges the company itself is facing along with Ghosn and Kelly!

How ironic it would be, the proverbial "poetic-justice" if Saikawa was charged and detained!

19 ( +21 / -2 )

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