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Nissan to Revise Earnings Reports to Show Ghosn’s True Pay
Nissan Motor Co. says it will file corrected earnings to reflect 5 billion yen ($44 million) in previously unreported compensation for former Chairman Carlos Ghosn.
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Nissan Motor Co. says it will file corrected earnings to reflect 5 billion yen ($44 million) in previously unreported compensation for former Chairman Carlos Ghosn.
The corrected filings are likely to be reported in February, when Nissan posts its fiscal third-quarter results, sources tell Automotive News. The corrections will adjust results beginning with the 2010 fiscal year.
The corrections will determine the size of Nissan’s obligation to pay Ghosn, but the company also could file a lawsuit to reclaim it, one source tells AN. Until now, Nissan has insisted that it didn’t need to report the additional compensation because the exact amount would be paid in the future and depended upon future performance results.
Now the carmaker is deciding how much deferred income to report and over what period—and whether to book it as a one-time cost or in installments, AN says.
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