Ex-Nissan Division Head Terms Undisclosed Pay to Ghosn Questionable

Society

Tokyo, Sept. 29 (Jiji Press)--A former Nissan Motor Co. <7201> division head Wednesday testified that some remuneration to former Chairman Carlos Ghosn was kept undisclosed in a way that seemed questionable under law.

There was remuneration that had not been paid yet to Ghosn and not reported in Nissan securities filings, said the former head of the secretary office, who had reached a plea bargain with prosecutors.

The treatment of the remuneration appeared to be “against the spirit of the financial instruments and exchange law,” the former office head told Tokyo District Court in a trial against former director Greg Kelly, who was a close aide to Ghosn.

Kelly, 64, has been charged with violating the law over his alleged involvement in hiding part of the pay to Ghosn, 66.

In the day’s hearing, the former secretary office head said there were three types of remuneration to Ghosn--fixed, paid and unpaid pay.

[Copyright The Jiji Press, Ltd.]

Jiji Press