Nissan received record ¥130 bil state loan guarantee

Talk about throwing good $$ after bad!!!! INSANE

More tax payer money good as gone, wisely spent on government buddies rather than a cost and risk assessment by an independent group. Meanwhile medium small size companies have to fill out expensive paper work to get less or equal to the cost of the paperwork.

Do we really blame COVID for this? We all know why this happened.

the struggling Japanese automaker weather the pandemic's blow to sales already hurt by restructuring following the aggressive expansion sought by former boss Carlos Ghosn. 

There it is! It didn’t take them long to start blaming Ghosn for their troubles. He brought the company back from the brink of bankruptcy some 20 odd years ago. He brought the Fairlady back as a flagship model and expanded the the company’s market to to Africa and the Middle East.

They seem to forget that Ghosn was not in control of Nissan for two years before his arrest.

Unbelievable!!! Ghosn saved Nissan from bankruptcy, then they oust him out and now blaming him for company financial problems!!! I will never buy a Nissan product...

Shocking news but is anyone really surprised.

@Paul

Me neither, yet our taxes are now saving the company from bankruptcy.

More ineptitude from these bumbling, mumbling, fumbling, stumbling fools who work in governments, the world over there seems to be a common thread.

Stupidity seems to be the criteria for a job in any government in any position in any country. Unfortunately add in the corruption of Japanese systems and you have a recipe for great financial misappropriation .

Has anyone been held accountable for the huge losses incurred through JAL when the govt threw money down that drain ? Nah didn't think so !

*The guarantee covers part of the 180 billion yen loan that the state-affiliated financial institution extended to help the struggling Japanese automaker weather the pandemic's blow to sales already hurt by restructuring *following the aggressive expansion sought by former boss Carlos Ghosn

Unbelievable. He SAVED that bedridden company from bankruptcy and this is how they repay him. Let me correct this paragraph as follows:

*The guarantee covers part of the 180 billion yen loan that the state-affiliated financial institution extended to help the struggling Japanese automaker weather the pandemic's blow to sales already hurt by restructuring *following a series of back stabbing attempts by nissan upper management such as hari nada and hiroto saikawa on Carlos Ghosn in an alleged attempt to desperately prevent him from proceeding with a merge between nissan and Renault.

Disgusting.

Nissan can thank coronavirus for this loan.

If you think the dominos stopped falling after JAL and Nissan, think again. ...

Nissan will default it and the Government will use taxpayers 100billion yen as penalty!

Japan's present government or "next prime minister" demand "self-help" to citizen but they help large corporations with huge tax.

So the directors of Nissan earn JPY800/hour from now?

JGOV just printed fresh money from thin air again under the name of Japanese citizens to pay corrupted company...

@expat

Meaning that if/when they default, the taxpayer gets the bill...

It did happen in the past.

Japan Airlines Co took out a loan of about 67 billion yen in 2009. It defaulted on the loan the following year when the carrier went bankrupt, causing the state to shoulder about 47 billion yen.

47 billion yen is already is already at tax payer bill, don't know why do they think that this won't happen again.

If Nisan defaults on the loan, the government will shoulder up to 80 percent, or about 100 billion yen, of the guaranteed portion of the loan. Nissan reported a net loss of 671.22 billion yen in the business year ended in March, the first full-year red ink in 11 years.

100 billion yen? This thing is not even necessary if they make right move in 2018,

While the DBJ provided about 1.8 trillion yen in loans to large and midsized companies as of the end of July, the loan to Nissan is the only one with a state guarantee, the sources said.

How many carmakers got this kind treatment along with a state guarantee?

Ghosn might soon be proven right.

https://www.motorauthority.com/news/1126832_ghosn-nissan-will-go-bankrupt-in-two-to-three-years

Who in this time would want to buy a Nissan? At the current rate it may be gone before the pandemic is over.

The Chinese, Vietnamese or Indian are pretty damn happy if they can seize the assets of Nissan for good. All of three nations have a huge interest of developing their own native automotive industry for the global market.

However, I think Renault will takeover the rest of Nissan if the company ever goes bankrupt. We assume if the J-govt will not intervene since they love their J-companies being taken over by Americans or Chinese instead of bleeding heart "socialist" Europeans.

JGOV just printed fresh money from thin air again under the name of Japanese citizens to pay corrupted company...

One more reason why LDP cronies are just as bad as Chinese bureaucrats.

Japan's present government or "next prime minister" demand "self-help" to citizen but they help large corporations with huge tax.

Large corporations that will be mostly owned by American overlords and Chinese super-customers. J-govt has a huge hypocrisy of punishing all talented foreigners in the country, while they give the Americans and Chinese a free pass.

The free pass for greedy American elites and cunning Chinese CCP members.

The pathetic main stream media won't give it any mention.

Who in this time would want to buy a Nissan? At the current rate it may be gone before the pandemic is over.

The taxpayers aside, thing of the poor Nissan owner suddenly discovers he or she has no backup because the company is bankrupt.

It makes me wonder if the wrong people are under arrest.

Great to see my taxes are being well spent.

While we are all struggling to make ends meet in the current situation I'm pleased to see my taxes underwriting a failing dinosaur led zaibatsu

I think many are just bias by only looking at Ghost situation ( which i didn't known he existed before 2019) and are ignoring the car itself.

This type of thinking has led directly to many of the worlds problems. People willing to excuse the bad actions of a company because they like the price. It’s selling out our society for a cheap product.

Nissans are not cheap and most of the models are outdated and unappealing- my next car won’t be a Nissan

So many judgmentally people. All proclaiming that won't buy Nissan cars because of whatever reason.

Who cares about Ghost and whatever nonsense in Nissan. We buy car's base on quality, price, safety and taste. Don't mix politics in when you choose to buy a product. I still own a Nissan and had zero problem with it and will continue to buy one in future if i want to replace my current car.

Firstly the government had to support it. Is not like is uncommon. Every nation does it when it happen to global top companies. Because if a top global company goes down, so does the economy of a nation. Massive loss of jobs, market shares chaos and government lose a huge chunks of their car markets shares to foreign companies. Government would be force to spend several times the amount then to clean up the disaster and support the ones effected. So why is anyone surprise that the government is doing it? Korea and China is doing it all the time and are very aggressive when it comes to taking over market shares of industries by providing aids to domestic companies.

I think many are just bias by only looking at Ghost situation ( which i didn't known he existed before 2019) and are ignoring the car itself.