Ghosn, Nissan indicted in Japan on financial misconduct charges

Nissan Recalling 150,000 Vehicles In Japan Over Improper Testing

Nearly three weeks after his shock arrest, former Nissan Chairman Carlos Ghosn's relationship with his former protege is emerging as key to determining what may have triggered the investigation that has put the vehicle industry titan in a Tokyo jail cell.

But amid reports of tension within the tie-up, which outsold all rival groups a year ago, the three companies last month said they were "fully committed" to the alliance. He was detained without charges for the maximum 22 days allowed under Japanese law, but was served with a new warrant on Monday following fresh allegations that the practice went on for even longer than the originally-claimed five years.

In a statement, Nissan confirmed Ghosn and Kelly had been indicted, as well as admitting it too, as a legal entity, had been indicted: "Nissan takes this situation extremely seriously".

On Monday, he was charged with making a mis-statement on Nissan's annual securities report.

Shares of Nissan declined 2.9 percent in Tokyo.

During his meeting with Japanese Prime Minister Shinzo Abe on the sidelines of the G20 summit in Buenos Aires last week, French President Emmanuelle Macron asked Abe to help preserve the Nissan-Renault-Mitsubishi alliance in the recent arrest of former Nissan chairman Carlos Ghosn, according to Mainichi Shimbun.

Ghosn has been ousted as Nissan chairman and Kelly lost his representative director title, following their arrests, but they both remain on the board. The new charges allow authorities to extend the detention of Ghosn and Kelly for further questioning.

The 64-year-old Ghosn, who has been in detention since November 19 on suspicion of not declaring his actual income between 2010 and 2015, was indicted on Monday for violating the Japan Financial Instruments and Exchange Act, according to local media.

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Fields, 21, ran over 32-year old Heyer with his auto at the 2017 " Unite the Right " alt-right rally in Charlottesville. Jeanne "Star" Peterson told the court she was fast on her feet till her right leg was run over by Fields's vehicle .

The affair represents a staggering turnaround for a figure celebrated for saving Nissan from the brink of bankruptcy and rebuilding it as a money-making subsidiary of Renault.

Japan has one of the highest criminal conviction rates in the world, and prosecutors typically try to use interrogations to extract signed confessions from defendants.

The arrest of an industry icon admired both in Japan and around the world has stunned many and raised concerns over the Japanese automaker and the future of its alliance with Renault SA of France.

According to analysts and experts who spoke to Reuters, it will be hard for Nissan and its CEO Hiroto Saikawa to avoid blame, regardless of whether the company lacked internal controls or other executives knew about Ghosn's misconduct.

Japan's securities watchdog, meanwhile on Monday, filed a criminal complaint against Ghosn, Kelly and Nissan over the 5 billion yen of underreporting.

"We are closely watching if he is actually indicted and then found guilty", said analyst Satoru Takada at TIW, a Tokyo-based research and consulting firm.

Renault holds around 43 percent of Nissan, while Nissan has a non-voting 15 percent stake in the French partner.

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