Friday, 19 April, 2019


Nissan, Renault, M'bishi group remains 2nd in global sales

Carlos Ghosn as spoken with a Japanese newspaper the first time he has made a comment to the media since his arrest last year Carlos Ghosn has spoken to a Japanese newspaper the first time he has made a comment to the media since his arrest last year
Conrad Doyle | 31 January, 2019, 17:41

Ghosn responded to some of the specific charges laid against him.

He is also charged with aggravated breach of trust for having transferred to Nissan personal losses worth 1.85 billion yen from his private asset management company in 2008, and have the company pay $14.7 million to Khaled al-Juffali, a Saudi businessman who extended credit to him.

The embattled former chairman of Nissan has claimed his arrest over almost £60m of alleged fraud was the result of a "plot and treason" against him by executives at the company.

Nissan said on January 30 it sold 5.65 million vehicles last year, down 2.8 percent on the year.

Also Wednesday, Nissan Motor Co. said its global sales totaled 5.65 million vehicles past year, while Renault SA of France, which owns 43 percent of Nissan, recorded global sales of 3.9 million vehicles. Renault owns about 43 percent of Nissan with voting rights, while Nissan has a 15 percent non-voting stake in Renault.

Ghosn has been held in custody in Japan since last November, after being arrested on charges of financial misconduct, which he denies. He said he and Hiroto Saikawa, whom he had appointed as CEO of Nissan at the beginning of 2017, discussed the subject frequently in early 2018 but that talks had slowed over the summer before the two met in September.

Ghosn told the Nikkei he had no intention of fleeing and wants to defend himself in court.

Ghosn, who spearheaded Nissan's turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese corporation.

He told the Nikkei there was a plan to "integrate" the three companies but insisted it was meant to ensure there would be "autonomy under one holding company". 'All the evidence is with Nissan, and Nissan forbids all employees to talk to me'.

Another accusation against him revolves around some $9 million allegedly paid to him from a joint venture based in The Netherlands but Ghosn rejected this, saying the claims of improper payments were "a distortion of reality". He justified the houses on the grounds that he "needed a safe place where [he] can work and receive people in both Brazil and Lebanon".

After his arrest, the Brazilian-born Frenchman had plans to attend a Renault board meeting in Paris, explaining his position, and holding a news conference. The French government is the most powerful shareholder in Renault.

Asked about the alliance's future, Ghosn said, "I can not speculate".

Ghosn has been in custody since his November 19 arrest in Tokyo.

When asked about his health, he said he was "doing fine".

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