Yokohama-based Nissan said profit for the fiscal year through March 2020 will drop to 170 billion yen ($1.5 billion), as restructuring and product development expenses combined with currency-related losses and rising material costs slam earnings.
The case has rocked the global auto industry and also shone a harsh light on Japan's judicial system, which critics refer to as "hostage justice" as defendants who deny their charges are often not granted bail.
Carlos Ghosn was arrested again on suspicion of funnelling $5 million from payments made by a Nissan subsidiary to a third party for personal gain. An internal Nissan investigation has identified the party as a Nissan distributor in Oman.
The arrest comes a day after Ghosn pledged on Twitter to hold a news conference on April 11 to "tell the truth" about the allegations against him. "After being wrongly imprisoned for 108 days, my biggest hope and wish today is for a fair trial," Ghosn added in the emailed statement.
Prosecutors took Ghosn from his apartment in Tokyo early in the morning, according to the state broadcaster NHK, which reported that the arrest was on suspicion of “aggravated breach of trust” related to payments to a Nissan dealer in Oman.
Released on $9 million bail last week after spending more than 100 days in a Tokyo detention centre, Ghosn faces charges of under-reporting his salary at Nissan by about $82 million over nearly a decade.
Yokohama/Los Angles, Jan 21 (ANI): Japanese carmaker Nissan recently invited 59 journalists, bloggers and car club members from six countries in Asia and Oceania. As part of the Nissan 360 Asia and Oceania event, the guests visited the global headquarters of Nissan in Yokohama city. Participants from Thailand, Indonesia, Philippines, New Zealand and Australia joined together to experience what Nissan is all about. Starting from the Nismo Festival held at Fuji racetrack, where 35,000 Nissan race fans congregated at the foot of Mt Fuji. Nissan 360 event is aimed for the participants to get know and experience a wide perspective about the Nissan brand. The event's theme is "Discover Nissan" - Guests experienced firsthand new and future product and technology through the six-day-long program. Participants experienced Nissan heritage tours at the memorial cabinet in Japan's Zama city. The Nissan 360 event program has been designed to understand Nissan from all destinations - its past, present and future. Participants also received the state-of-the-art technology introduction in Nissan Advanced Technology Development Center. The test ride was the showcase of Nissan's latest and greatest vehicles for both road and track use as well as concept models that will soon hit the roads. The Nissan 360 event has received a very favorable reception from the participants. Nissan will to continue the event to communicate and promote to the motor fans.