Arrested Nissan executive Kelly says Ghosn paid appropriately - NHK

Arrested Nissan executive Kelly says Ghosn paid appropriately - NHK

Renault holds a much more powerful 43% shareholding in Nissan.

Ghosn, who has been acting as chairman of all three automobile giants, was arrested in Japan on Monday.

In Japan, government is urging Nissan to regain stability, while Nissan is seeking more power with its alliance with Renault.

Kelly said that Nissan's securities reports were properly written and that there were no problems with them, the sources said.

The reports come after Nissan Motor confirmed on Thursday that its board of directors dismissed Ghosn as its chairman and also voted to remove the representative director of Nissan's board Greg Kelly.

This was informed in the press service of Nissan. During 2017 the collaboration of Nissan, Mitsubishi and Renault announced that they sold 10.61 million passenger cars and light commercial vehicles making them number one in the automobile world. Mr Ghosn is the joint head of collaboration firm Renault, Nissan and Mitsubishi.

After the board presentation and its summary of findings, however, the tune in Paris had changed.

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After heavy losses earlier in the week, Renault shares were up 0.5 per cent at 4:15pm.

He received a visit from Brazilian consul Joao de Mendonca on Thursday who told AFP that Ghosn "sounded very well, in good health". In addition, the Committee is mandated to nominate candidates for the position of Chairman of the Board of Nissan Motor's Board of Directors.

"There was some talk and frustration about an unjust arrest", he said.

Ghosn is being held custody in a Tokyo detention centre and has not been seen in public or made any comments since his arrest.

Asahi Shimbun reported yesterday he had emailed Kelly orders to make false statements about his remuneration.

Separately, the Kyodo news agency has reported that Nissan had paid $100,000 a year since 2002 to Ghosn's sister who had no record of doing advisory work for the group. The probe has been orchestrated by Nissan as it covers alleged financial transgressions principally tied to Japan, and Nissan CEO Hiroto Saikawa has emerged as a driving force behind the investigation. Since 2005, he combined the posts of President and CEO of Renault.

That stance may now change. Nikkei points out, in passing, that the houses were used by Ghosn for his personal use and that Nissan would have also funded the renovation of the houses of Beirut and Rio.

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