Nissan, Renault Launch Joint Probe at Dutch JV

Economy

Tokyo, Feb. 6 (Jiji Press)--Nissan Motor Co. <7201> and Renault SA have launched a joint investigation for any financial irregularities at Renault-Nissan BV, a Dutch joint venture that oversees their alliance, informed sources said Wednesday.

The move came after Nissan and Mitsubishi Motors Corp. <7211> said in January that they have detected improper payments totaling one billion yen from Nissan-Mitsubishi BV, their Dutch joint venture, to Carlos Ghosn.

Ghosn, former chairman of Nissan, Renault and Mitsubishi, has been indicted in Japan on charges of financial misconduct.

Nissan and Renault set up the equally-owned unit in 2002, with the aim of enhancing the effects of the partnership between the Japanese and French automakers.

Ghosn held Renault-Nissan BV's top position as he led the alliance, which was joined by Mitsubishi of Japan in 2016.

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Jiji Press