Nissan Preparing to Seek Compensation from Ghosn

Society Economy

Tokyo, Jan. 8 (Jiji Press)--Nissan Motor Co. <7201> plans to move forward with legal procedures against former Chairman Carlos Ghosn, including for seeking compensation from him for huge financial losses the company claims to have suffered.

At a closely watched press conference in Beirut on Wednesday, Ghosn, indicted in Japan for a series of alleged financial misconduct, said that the charges filed against him are false.

But the Japanese automaker maintains that he has committed a number of illegal acts. The company says its investigation has found that Ghosn's illicit acts caused more than 35 billion yen in loss to Nissan.

Ghosn held the press conference after he fled Japan to Lebanon late last month while on bail awaiting trial.

Nissan's audit committee has recognized numerous counts of wrongdoing by Ghosn, including false reporting of his executive pay in the firm's financial statements and his personal use of a residence bought with money of the firm.

[Copyright The Jiji Press, Ltd.]

Jiji Press