Thursday, March 28, 2024

Are You Eating Too Much Sugar? If You Have 1 or More of These Symptoms,

Are you eating too much sugar? Though the recommended daily amount of added sugar tops out at 25 grams (six teaspoons) for women, your...

Latest Posts

Nissan Takes $83m Charge Related To Carlos Ghosn

Nissan has taken a 9.2bn yen ($83m; £64.5m) charge tied to compensation for former chairman Carlos Ghosn.

Nissan chief executive Hiroto Saikawa

The charge was reported in the firm’s first results since Mr Ghosn’s arrest for financial misconduct, and Nissan said it reflected additional expenses related to payments to its former boss.

The carmaker also cut its full-year profit forecast as sales weakened.

It comes as the Nissan-Renault alliance is being tested by the scandal surrounding Mr Ghosn.

The 64-year-old has been in prison since November after Nissan accused him of understating his pay.

Nissan said it now expected full-year operating profit to be 450bn yen, down from a previous estimate of 540bn yen.

The cut to its full-year outlook came despite a rise in operating profit to 103.3bn yen for the three months to December, up from 82.4bn yen a year earlier.

However, the Japanese carmaker revised its full-year forecasts “given the performance in the first nine months of the year”.

Theo Leggett, business correspondent

Mild mannered, bespectacled and grey-suited, Nissan’s chief executive Hiroto Saikawa looks every inch the corporate functionary. But he’s now widely seen as a ruthless corporate assassin, who seized on the allegations of wrongdoing against Carlos Ghosn to oust his former boss.

At the time, Nissan’s Japanese executives were becoming increasingly wary about Mr Ghosn’s plans to forge an ever closer union between the Alliance members of Renault, Nissan and Mitsubishi – with Renault firmly in the driving seat.

It was a pointed warning ahead of his planned meeting this week with the new chairman of Renault, Jean Dominique Senard. Despite Renault’s 43% shareholding, Nissan is no longer prepared to play a subservient role to its French partner; and any attempt to engineer a merger will be fiercely resisted.

The results are the first to be published since the arrest of its former chairman.

Mr Ghosn, the architect of the Renault-Nissan alliance, has been charged with financial misconduct and breach of trust.

He was sacked by Nissan after his arrest last year and resigned from Renault.

Renault and Nissan have pledged to continue their alliance. The new boss of Renault Jean-Dominique Senard will meet Nissan’s boss Hiroto Saikawa in Japan this week.

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.