trending Market Intelligence /marketintelligence/en/news-insights/trending/Hs0ZfV93jB3lGZWe_uDxmg2 content esgSubNav
In This List

Japan regulator recommends ¥2.42B fine for Nissan over Ghosn pay

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

Insight Weekly: Reviving nuclear power; 2023 outlook for US financials; PE funds fuel EV sector

Blog

Insight Weekly: Energy reforms after midterms; Crisis ends 'age of gas'; bank deposits fall


Japan regulator recommends ¥2.42B fine for Nissan over Ghosn pay

As expected, Japan's Securities and Exchange Surveillance Commission recommended a fine of ¥2.42 billion for Nissan Motor Co. Ltd. for misreporting former CEO and chairman Carlos Ghosn's pay over several years.

The fine will cover financial statements from fiscal 2014 to fiscal 2017, according to a Dec. 10 announcement.

Ghosn was arrested in 2018 over allegations of financial misconduct, including underreporting his income for years and spending company money for personal expenses.

Nissan said it takes the recommendation seriously and noted that it does not intend to dispute the decision.

"Making false disclosures in annual securities reports greatly harms the integrity of public disclosures in the securities markets. The company expresses its deepest regret to its stakeholders for any trouble caused," Nissan said.

As of Dec. 10, US$1 was equivalent to ¥108.71.