Ex-Nissan Chm. Ghosn May Have Understated Pay by 12 B. Yen

Society Economy

Tokyo, Nov. 24 (Jiji Press)--Former Nissan Motor Co. <7201> Chairman Carols Ghosn may have underreported his pay by a total of 12 billion yen, including incentive compensation linked to the Japanese automaker's stock price, sources said Saturday.

Ghosn, 64, failed to report some 4 billion yen he received in the form of such incentive compensation, on top of the executive pay of 8 billion yen he failed to report over the eight years through March this year, the sources said.

The special investigation squad of the Tokyo District Public Prosecutors Office is investigating details.

Ghosn and former Representative Director Greg Kelly, 62, were arrested Monday for their alleged involvement in underreporting the former chairman's executive pay by more than 5 billion yen in total in Nissan securities reports for fiscal 2010 through fiscal 2014 submitted to the government's Kanto Local Finance Bureau.

The prosecutors also suspect that his executive pay was understated by a total of some 3 billion yen between fiscal 2015 and fiscal 2017, which closed in March this year, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press