Nissan, Renault Expected to End Joint Probe in Mid-March

Economy

Tokyo, March 5 (Jiji Press)--Nissan Motor Co. <7201> and Renault SA are expected to terminate their joint probe into alleged misconducts by their former chairman, Carlos Ghosn, as early as mid-March.

At present, they are examining their Dutch joint company, Renault-Nissan BV, to see whether there was any fraudulent remuneration payment or any inappropriate use of company money. The probe results will be made public.

The fifty-fifty joint company was established in 2002 to set common strategies for the Japanese and French automakers in alliance. Once headed by Ghosn, the company is believed to have become a hotbed of his wrongdoings.

Separately, Nissan's internal investigation is going on. The results are expected to be released this month at the earliest.

In the investigation, some irregularities have been found, such as underreported executive pay in annual securities reports.

[Copyright The Jiji Press, Ltd.]

Jiji Press