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Ghosn planned to oust CEO before his arrest: report

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Comedy gold, now the inept second in command hooked up with prosecutors to arrest his boss well not arrest as they can't find evidence, just hold him without charge. And what's next? Seems it wasn't such a well thought out plan after all.

8 ( +11 / -3 )

The plot thickens.

14 ( +16 / -2 )

Not just me, but also others said this from the beginning:

an act of jealousy. Don't want that "Non-Japanese" collect all the credits for taking care of Nissan.

What a shame, what a disgrace!

12 ( +14 / -2 )

To quote a scene from Star Trek:

"The game's afoot!"

10 ( +11 / -1 )

Sounds like an episode of house of cards.

11 ( +12 / -1 )

Ghosn brings in governance gets arrested by the guy who is screwing up..... Saikawa needs to be in jail for fraud.

14 ( +17 / -3 )

So number 2 (no one likes being No2) dropped No 1 into number 2, now number 2 is neck deep in No2, with no excuse for being No 2. Rule 1 if you can't do your job...walk away! Or in this case make an excuse to get government backing and arrest No1 but I have to say he is still No2.

9 ( +11 / -2 )

So, there’s your whistleblower people. I’m also sure he was involved , but wasn’t getting enough out if it, so as soon as he heard he was gonna get sacked he narked Ghosn in.

13 ( +14 / -1 )

It seems like Saikawa thought Ghosn would be unable to fight Japanese laws, possibly due to a lack of understanding of the language.

What he didn't take into account was, Ghosn is smarter - hence why he and not Saikawa, was No.1.

Plus Ghosn has the stamina to last the distance and prevail through interrogation, because he knows he has nothing to hide.

9 ( +12 / -3 )

No doubt this is obvious even to those within the Nissan organization, but will anyone stand up and do what's right?  A big fat...NO!!

Those that are in postions of power, within this society, have learned very well how to use the innate or inborn characteristic of kowtowing to one's superior to their advantage.  Thus the rampant abuse and misuse of power.

S

0 ( +1 / -1 )

I don't think Nissan and Japan realized what a poopstorm this would turn into. This is going to seriously damage both Nissan in particular and Japan's in general standing in the world. The really important thing is for the international media to keep on this and not treat japan with kid gloves.

9 ( +12 / -3 )

lol now Saikawa is playing the victim card..

9 ( +12 / -3 )

One thing about business in Japan and any country you do business here ladies and gentlemen is ALWAYS keep a close and competant Japanese lawyer and also a non Japanese lawyer in or out of Japan.

0 ( +2 / -2 )

Everyone in the executive level, especially the Financial dept would know where every single yen is transferred especially for a public trading company... Auditors are still in ghost town somewhere?

9 ( +9 / -0 )

The general consensus among the cognoscenti is that Ghosn is instrumental in Nissan's rise from the ashes. I don't deny that. However, almost 20 years at the helm is a long, long time and perhaps Ghosn had lost his touch. It is apparent that Ghosn will not be back at Nissan. We shall see how Nissan does post-Ghosn. If what we read it wholly truthful, then Saikawa is not only inept but treasonous. It will be interesting to see the post-Ghosn performance of Nissan and just how much of it was attributable to Ghosn.

4 ( +5 / -1 )

an excellent article on the subject:

https://asia.nikkei.com/Opinion/Nissan-Olympus-and-fixing-Japan-Inc.-governance

I just want to touch up on some of the most important parts, but by all means read the whole thing..

Nissan and Olympus share something else: how the corporate insiders strike back. After Woodford was shown the door at Olympus, the hierarchical Japanese seniority-based culture of a company founded in 1919 reasserted itself.

The same goes for Nissan. When Ghosn arrived in Yokohama in 1999, the man now replacing him, Hiroto Saikawa, had already been there two decades. At a Nov. 19 news conference, Saikawa spoke expansively about the "dark side" of the Ghosn era. To longtime Japan observers like Kenneth Courtis, a former Goldman Sachs executive, says: "Old Japan is striking back, and is taking back control of Nissan."

Saikawa was right to have Ghosn investigated if he had good grounds to act. But it is odd, though, to hear Saikawa blaming the man who saved debt-ridden Nissan from collapse for its current troubles (including a 10.9% drop in net profit for the six months to September). Saikawa was part of the management that crippled Nissan before 1999. Equally, Saikawa has been CEO since April 2017, so presumably bears at least some responsibility for this year's downturn.

8 ( +9 / -1 )

Japan Inc is circling the drain.

7 ( +8 / -1 )

It is not outside the realm of possibility that Ghosn retains his crown and Saikawa is indicted. That would be rich.

8 ( +9 / -1 )

But this is still just a part of the big flow, not a main reason to drag Ghosn down from the postion.

1 ( +1 / -0 )

Gets more interesting by the day......I enjoy novels by Scott Turow or John Grisham and this is more and more like something they would spin except we get to see this play out in real life.

It is an interesting but not totally surprising twist.

6 ( +6 / -0 )

Well....... Saikawa's pre-emptive strike clearly looks self serving for sure - AND, it doesn't exonerate him of his culpability in all these shenanigans.

But neither does it exonerate Ghosn.

The problems with Nissan were longstanding predating Saikawa.. Ghosns mismanagement forged by it own path,

-5 ( +1 / -6 )

This is an INCREDIBLE article that REALLY NEEDS to be read!!

https://japan-forward.com/is-the-arrest-of-nissans-carlos-ghosn-a-case-of-japanese-xenophobia/

0 ( +3 / -3 )

@Aly Rastom - You should be reading that tabloid garbage.

-4 ( +2 / -6 )

Aly Rastom - You should be reading that tabloid garbage.

First of all, please learn to spell my name right.

Second, who are you to decide what is tabloid garbage?

2 ( +5 / -3 )

If they make this into a TV drama I suggest the title is 'House of Cars'

4 ( +5 / -1 )

It all makes sense now, Saikawa probably started to realize what was going on and did this coop as a last ditch effort to get power, since if the Renault merger took place then him and his Japanese cronies would have been made redundant. They probably planned this from the beginning, convincing Ghosn to sign the papers while explaining that it was the best for accounting purposes and not to worry about it, just waiting for the day when they could use them. Well, the rest of the world will surely see it for what it is but will Japan even care?

6 ( +7 / -1 )

Where did WSJ get the information from?  I guess from Renault or France side.  Hardly credible.  Even if it was true, it won't change Ghosn's wrongdoing.   Maybe he tried to oust Saikawa because he knew too much.

-11 ( +2 / -13 )

Good to see tinawatanabe stressing the importance of fact-checking. When the report is from a gaikoku source, that is.

7 ( +9 / -2 )

Ironically, Saikawa is going to go to the grave known as the one who destroyed Nissan.

3 ( +5 / -2 )

Japan Inc shot itself in the foot big time.

Who’d want to be a CEO of a Japanese company if this charade can be allowed to take place?

Now on Asahi TV they have just been reporting the cunning details of how the prosecutors cleverly managed to catch the pair when they arrived in Japan - like a spy movie - but a pity there are no villains other than the Japanese authorities and whoever ‘tipped’ them off (bets on Saikawa...)

1 ( +4 / -3 )

Almost all Nissan employees must be seriously pissed at all this.

2 ( +3 / -1 )

Ghosn will have a field day getting compensation if this does all turn out to be sour grapes on the part of Saikawa. Hard to believe the charges as Ghosn knows the finance department (and reporting systems in place) would never be able to cover up $40 million or more earmarked for him over a few years.

2 ( +4 / -2 )

Very complicated case, and alarming.

-1 ( +1 / -2 )

Ghosns mismanagement forged by it own path,

yep from almost bankrupt to the largest auto conglomerate in the world, whether Ghosn is guilty or not that in itself should be some praise and certainly not some weasel stabbing him in the back because he can't stand the fact a gaijin did what he never could

3 ( +4 / -1 )

Thriller: Oust Nissan CEO

Author: Carlos Ghosn

Price: $44 million

-3 ( +0 / -3 )

This is an INCREDIBLE article that REALLY NEEDS to be read!!

https://japan-forward.com/is-the-arrest-of-nissans-carlos-ghosn-a-case-of-japanese-xenophobia/

Thank you for this link. FYI, Japan Forward is considered the website of choice for people who do NOT want to be seen as lecturing Japanese people on wrongdoings by native Japanese in their country. So it is kind of exceptional and extraordinary that an article like this one got uploaded there.

3 ( +3 / -0 )

Thank you for this link.

You're most welcome! Thank you for the kind words.

FYI, Japan Forward is considered the website of choice for people who do NOT want to be seen as lecturing Japanese people on wrongdoings by native Japanese in their country. So it is kind of exceptional and extraordinary that an article like this one got uploaded there.

I agree. Which says alot about how the Ghosn case is being viewed.

2 ( +3 / -1 )

No more news about Nissan ???.from 12th Dec 2018 ???.Why ???.This kind of people like saikawa, should not be let to escape. I really do not want to see a bad Japanese example for any good Japanese. All good Japanese, pls protest loudly for Carlos and Kerry. Pls be fair.

0 ( +0 / -0 )

Nissan is old news now. Its a one-sided case against Ghosn. He has to walk the plank and be tossed overboard now. Let the Pirate ship o'Nissan sail away without him.

0 ( +0 / -0 )

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