[YesAuto News] According to a report by the Japanese broadcaster NHK, Renault’s chairman and CEO and Nissan Motor’s chairman Ghosn allegedly violated the false records in the Financial Commodities Exchange Act on the evening of the 19th for allegedly under-declaring his own remuneration The securities report was taken away by the Special Search Department of the Tokyo District Public Prosecutor's Office in a voluntary manner.
In response, the person in charge of Nissan's publicity said: “The factual relationship is being confirmed.” The Tokyo District Attorney's Office declined to comment. This incident also caused Renault's share price to plummet in the Paris stock market, falling 5.5% in early trading, making it one of the worst performing stocks in Europe.
Ghosn is a rare foreign executive in Japan. In 1999, Carlos Ghosn officially became the chief operating officer of Nissan as a “foreigner”. After 18 months, he made a profit for Nissan, which had been losing money for 7 consecutive years. In June 2000, he became president, and a year later he became president and chief executive officer. In 2005, he became the CEO of Renault Motors and became the dual CEO of two major international car companies that span 8 time zones and are separated by nearly 10,000 kilometers.
Under Ghosn’s leadership, in 2017, Nissan’s total global sales reached 5.77 million vehicles, an increase of 2.6%, and net income was 746.9 billion yen (approximately 43.1 billion yuan), a year-on-year increase of 12.6%. While Nissan's overall sales have grown steadily, its revenue has also improved.
In fact, Nissan’s chairman Carlos Ghosn disclosed his salary at the annual shareholder meeting. In 2014, the remuneration exceeded 1 billion yen for the first time, at 1.035 billion yen (approximately 63,701,480 yuan), and in 2015 it was 1.071 billion yen (approximately 65,915,805 yuan). In 2016, it was the highest in history of 1.098 billion yen (approximately 67,577,548 yuan). In 2017, it decreased by 33% from the previous year to 730 million yen (approximately 49,113,737 yuan).
According to Reuters, Ghosn agreed to talk to Tokyo prosecutors after his arrest. A Nissan spokesperson said the company is reviewing related reports.