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Nissan Faces Likely Fine Over Ghosn Pay Reporting
Japanese regulators are expected to fine Nissan Motor Co. as much as 4 billion yen ($37 million) for not reporting a like amount of compensation for former Chairman Carlos Ghosn.
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Japanese regulators are expected to fine Nissan Motor Co. as much as 4 billion yen ($37 million) for not reporting a like amount of compensation for former Chairman Carlos Ghosn.
A source tells Reuters that Japan’s Securities and Exchange Surveillance Commission will say that failing to post the deferred payments had a “significant” impact on investor decisions about the company.
Nissan is actually suspected of failing to report 9 billion yen ($82 million) in total deferred pay to Ghosn over eight fiscal years. But only about half that amount occurred after fiscal 2013 and is thus within the statute of limitation, according to Reuters’ source.
The SESC will launch a formal investigation into the charges next week. Reuters says Nissan could reduce the fine to about 2.4 billion yen ($22 million) by acknowledging the error before the probe begins.
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