Nissan Ghosn: Nissan and Services Agency

nissan ghosn: The fine targets the underreported period of four years through March 2018 for which the statute of limitations has not expired, according to The Japan Times. Initially, the penalty for Nissan was expected to reach 4 billion based on the amount of pay left out of submitted documents, but the automaker has asked the watchdog for a reduction in the fine by reporting the matter before an investigation got fully underway. The recommendation by the Securities and Exchange Surveillance Commission, which has also filed a criminal complaint against Nissan and Ghosn over the alleged misreporting, was made to the Financial Services Agency on Tuesday. ; The watchdog accused Nissan of violating the financial instruments law by underreporting Ghosn's pay package by around 9.1 billion in the eight years through March 2018 in the company's securities reports presented to regulators. The SESC accepted Nissan's request, sources said. The company corrected its securities reports in May, including executive remuneration, from fiscal 2005 to fiscal 2017. RELATED STORIESNissan, Renault and Mitsubishi to set up new company to develop advanced tech for next-generation vehicles New Nissan chief Makoto Uchida vows to turn around the embattled automaker Nissan gives U.S. workers two unpaid days off as America sales slump Tokyo prosecutors have indicted Nissan on the charge. (news.financializer.com). As reported in the news.