Nissan to Book Ghosn's Underreported Pay as Expenses

Economy

Tokyo, Feb. 5 (Jiji Press)--Nissan Motor Co. <7201> plans to book former Chairman Carlos Ghosn's underreported pay totaling about 9.1 billion yen as expenses for the year ending next month, informed sources said Tuesday.

Ghosn has been indicted by Tokyo prosecutors on charges of underreporting his executive pay by some 9 billion yen in the Japanese automaker's financial statements over the eight years ended in March 2018.

Nissan also plans to correct its past financial statements. It is scheduled to release its quarterly earnings on Feb. 12.

Ghosn denies the charges, claiming that the amount of his executive pay had yet to be determined.

The automaker plans to book Ghosn's underreported pay as expenses but may not actually pay him the amount of money, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press