crime

Ghosn, Kelly formally charged over financial misconduct; Nissan also indicted

25 Comments
By Kiyoshi Takenaka

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© (c) Copyright Thomson Reuters 2018.

©2019 GPlusMedia Inc.

25 Comments
Login to comment

No statements from the CFO, Accounting documents, no financial documents? brilliant, point all fingers to the people who made Nissan rich and in the powerful positionto begin with. What goes around comes around though, bringing down the people who made you rich, will be your ultimate doom, stock market is showing those signs already.. As the fortune cookie says

5 ( +13 / -8 )

Analysts have said it could be difficult for Nissan to avoid blame, whether it turns out that other executives had knowledge of Ghosn's misconduct, or that the company lacked adequate internal controls

That’s Japan Inc. in a nutshell.

7 ( +13 / -6 )

Then arrest the back-stabbers too!

11 ( +17 / -6 )

Ghosn was arrested on Nov 19 on suspicion of conspiring to understate his compensation by about half of the actual 10 billion yen ($88 million) over five years from 2010.

This, without a doubt in my mind, a move by the prosecutors to get him for something, anything, as they would seriously have egg all over their faces if they let him go free.

They are going to do their best to get someone on something and screw the circumstances!

10 ( +17 / -7 )

yubaru: They are going to do their best to get someone on something and screw the circumstances!

It looks like they got the whole bunch of them. They got evidence.

it's the domino effect.

The Nissan execs will hasten to cooperate to lighten their sentences and will be happy to give up whoever.

Saikawa is going to go, too, - and fast.

16 ( +17 / -1 )

Yep arrest the foreign people, and charge a company? See very clearly what's going on. If you are involved with a company that are underhanded as a foreign worker you go to jail and the Japanese management get at best a suspended sentence. This week alone a company had 51 undocumented employees they get detained indefinitely while the company are not even named. Think about working in Japan? Turn left it's not worth it.

8 ( +14 / -6 )

Charge a company? Is that possible?

-4 ( +4 / -8 )

All I can hope for is for Saikawa and the other stooges involved in this coop to get what's coming to them. Imagine if they're found to be in the wrong but just do the typical "bow" and all is forgiven!

8 ( +13 / -5 )

Ghosn has been rearrested on a slight variation of the original arrest, showing that Japan's justice system can effectively hold people without charge interminably.

11 ( +17 / -6 )

Holding without bail, and preventing the two in custody from speaking publicly - for what appears to be a technicality, if even that - is a disgrace.

The main ‘crime’ seems to be that Ghosn didn’t report remuneration that he hasn’t received. Who is at a loss here? He’s been fired now, so he probably won’t be receiving that money.

If he has avoided paying tax on some remuneration he hasn’t yet received then just make him pay the tax with a fine.

It would seem to me that there might be a whole lot of company presidents and CEOs in Japan that may be on similar remuneration schemes. Indict them all.

We all know that the main issue here isn’t Ghosn’s remuneration though.

0 ( +0 / -0 )

No way are Kelly and Ghosn the only ones involved. Certainly their are Japanese people just as culpable.

10 ( +10 / -0 )

Yet another corporate scandal-slowly my high opinion of the Japanese is changing....

8 ( +9 / -1 )

Of course the main issue isn't Ghosn's remuneration! The main issue is PRIDE! And "pride goeth before a fall"....ever since China overtook Japan was ousted as #2 economy by China, I've noticed a broody grumpy attitude on the part of Japanese company bigwigs. This being Japan, pride and national honor are far more important than things like, umm.....going home on time to say goodnight to your kids and wife, and ummmm....the law.

11 ( +12 / -1 )

If it appears to be true that "Carlos Ghosn was planning to replace the Nissan CEO before his arrest" (*), therefore Saikawa's role in this "Shakespearean" drama is undoubtedly a major one.

If Saikawa was really interested by the global interest of the automotive group and not his own interest, he could have been proactive since the first day he was CEO of Nissan.

Feeling threatened in his position, he immediately fired point blank  Ghosn and Kelly. His real objective was purely individual (not the interest of the group Nissan-Mistbushi-Renault).

Anyway, the near future would equally show how the Japanese detention system has play an involuntary role in the degradation of various images of (Nissan, Mistbushi, Renault, and Japan. Saikawa's fear for his position +Japanese detention system have created "an earthquate" deteriorating a successfully working international partnership which WAS envied by many competitors. (Hope I am wrong).

(*) (https://www.wsj.com/articles/carlos-ghosn-planned-to-replace-nissan-ceo-before-his-arrest-1544348502)

7 ( +9 / -2 )

So basically a cleanup to reconstruct the positions between the Nissan and Renault. Probably because the French partner has too much control over the years and now Nissan executives decided to do some housecleaning. Dig deeper and bribes and whatever will probably resurface.

4 ( +5 / -1 )

No way are Kelly and Ghosn the only ones involved. Certainly their are Japanese people just as culpable.

Nissan itself got charged over for the blunder of overlooking.

1 ( +1 / -0 )

Finally , saikawa got the lime-light. The lime-light is now correct. Congratulations to the intelligent people in the prosecutors office. All the good Japanese people & the world congratulate the good intelligent Japanese prosecutors. Justice is now in practice. No bad Japanese people , who are mean and time-waiting should ever get away. Think of the great future of young Japanese adults. Lets be the people that gives great example to the world. Good work.

-1 ( +1 / -2 )

Nissan has a non-voting 15 percent stake in the French partner.

because the French automaker prohibits Nissan increase its stake.

-8 ( +1 / -9 )

Next, let’s hear from the auditors, both in-house and from the outside. Let’s see how they defend themselves. Also, I question if Saikawa is some government deep throat of sorts. He was in the inner circle all along. He’s squeaky clean? Something tells me this is not going to turn out nicely. Internationally, this battle will be studied by corporations as well as governments. Quid pro quo on the horizon. The government didn’t think this one out well.

3 ( +4 / -1 )

Not good for Nissan, very bad for Japan. Don't cry for me, Brazilians.

2 ( +2 / -0 )

Several Nissan leaders should in theory be convoked by the presecutors. However, it may not happen, if they  have already negotiated some  kind of national "contract" between the Japanese justice and Saikawa (in the new japanese laws the negotiation of sentences is feasible). This may allow Saikawa to do not be condmaned and he may to have already obtained some assurance about the possible evolutions of judiciary process. Of course, viewed from many justice systems of many countries such mechanisms can be understood in the case of Mafia or terrorism groups. If there will no custody of Saikawa, Japan justice system would appear as abnormal from various standpoints.

3 ( +3 / -0 )

Well, at least now that he has been charged, he can apply for bail (I believe under Japan s criminal code, a defendant can apply for bail while on remand, and if it is refused by a judge, can apply again unlimited times). No doubt the prosecution will contest bail, so judges - get your rubber stamps out the drawer and fill the ink pads.

2 ( +2 / -0 )

How many of these prosecutors have reported the post-retirement salaries they haven’t received yet?

3 ( +3 / -0 )

"Ghosn, under pressure from the French government, had pushed for a deeper tie-up including a possible full merger between Renault and Nissan, despite strong reservations at Nissan."

Old JInc not wanting to let go of control even if 43% is owned by outsiders. Hence the coupe!

1 ( +1 / -0 )

Of course the main issue isn't Ghosn's remuneration! The main issue is PRIDE! And "pride goeth before a fall"....ever since China overtook Japan was ousted as #2 economy by China, I've noticed a broody grumpy attitude on the part of Japanese company bigwigs. This being Japan, pride and national honor are far more important than things like, umm.....going home on time to say goodnight to your kids and wife, and ummmm....the law.

You said it, man! These people couldn't let him go because of how it would've made them look. They HAD to find some other way to keep him if he wasn't breaking. What a low blow.

1 ( +1 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites