The Latest: Nissan says taking charges against it seriously

TOKYO (AP) — The Latest on charges against former Nissan Motor Co. chairman Carlos Ghosn following his arrest on suspicion of underreporting income (all times local):

Nissan Motor Co. says in a statement that it is taking "extremely seriously" charges made against it, its former chairman Carlos Ghosn and another executive. Newest charges allege an additional $38 million (4.2 billion JPY) in underreported income from 2015 until 2018, a number which joins the original accusation of $44 million (5 billion yen) in fraudulently obtained income from 2010 until 2015. Japanese media say prosecutors have added to charges against Nissan's former chairman Carlos Ghosn, extending his detention following his arrest on Nov. 19. KYODO NEWS - Dec 10, 2018 - 15:10 | Urgent, All, Japan

Former Nissan Motor Co. Chairman Carlos Ghosn, his close aide Greg Kelly and the Japanese automaker were indicted Monday over an alleged underreporting of about 5 billion yen ($44.5 million) of Ghosn's remuneration in the company's financial statements during the five years through March 2015. This is linked to Japan's high confession rate, and the assumption that a suspect who denies wrongdoing deserves to suffer disadvantage." The deadline for the two executives' initial detention period is Monday, but a fresh arrest warrant would allow the prosecutors to keep them in custody at a Tokyo detention center for a longer period and conduct further interrogation. Ghosn, 64, was sent to Nissan by its partner Renault SA of France in 1999 and led a dramatic turnaround of the near-bankrupt Japanese carmaker. “Making false disclosures in annual securities reports greatly harms the integrity of Nissan’s public disclosures in the securities markets, and the company expresses its deepest regret,” said Nissan, “Nissan will continue its efforts to strengthen its governance and compliance, including making accurate disclosures of corporate information.”

Since his initial arrest in mid-November, Nissan has ousted Ghosn as board chairman, a decision which was swiftly matched by Mitsubishi.
Nissan, the company's former chairman Carlos Ghosn, and an aide are indicted on charges that Ghosn underreported about ¥5 billion ($44.5 million) of his income. Ghosn's arrest warrant is renewed.