See More on Facebook

Business

Court denies Ghosn’s request to attend Nissan board meeting

Former Nissan Motor Company Chairman Carlos Ghosn was released on bail last week.


Written by

Updated: March 12, 2019

The Tokyo District Court denied the request of Carlos Ghosn, former Nissan Motor Co. chairman, to attend the company’s board meeting scheduled for Tuesday, sources said Monday.

Ghosn, who has been indicted by prosecutors on charges including aggravated breach of trust in violation of the Companies Law, was released on bail on March 6. He wished to attend the meeting, but the bail conditions require having the court’s permission, so his attorney lodged the request on Friday.

Meanwhile, Nissan, French automaker Renault SA and Mitsubishi Motors Corp. said they will hold a joint press conference on Tuesday afternoon after the board meeting, likely to talk about their alliance. In addition to Nissan President and CEO Hiroto Saikawa and Mitsubishi Chairman and CEO Osamu Masuko, Renault Chairman Jean-Dominique Senard and CEO Thierry Bollore will also attend the conference, according to the companies.Speech



Enjoyed this story? Share it.


The Japan News
About the Author: The Japan News is published by The Yomiuri Shimbun, which boasts the largest circulation in the world.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business

Mahathir chairs economic meeting, cost of living takes centre stage

The Economic Action Council’s main aim is to spur and stimulate sustainable economic growth. Prime Minister Mahathir Mohamad chaired the first meeting of the  Economic Action Council (EAC), which had tackling the cost of living high on the agenda. The meeting on Wednesday (March 20) looked at measures to improve the living standards of the B40 group. The Economic Affairs Ministry, which acts as the secretariat to the EAC, said that three papers were presented by representatives from the ministry, as well as the Domestic Trade and Consumer Affairs Ministry. “Aside from the cost of living, the idea of social entrepreneurship as a platform to improve the livelihood of B40 households was also brought to the meeting’s attention, as well as the implementation of decisions made by the National Action Coun


By The Star
March 21, 2019

Business

India calls emergency meeting over Jet Airways

Aviation Minister calls emergency meeting as debt-ridden Jet Airways grounds flights. Aviation Minister Suresh Prabhu on Tuesday directed his ministry’s secretary to hold an emergency meeting on debt-ridden Jet Airways cancelling flights after grounding a large part of its fleet. The minister’s direction came in the wake of the airliner drastically reducing its operations due to liquidity crunch. “Directed Secretary, @MOCA GOI to hold an emergency meeting on grounding of flights by Jet Airways, advance bookings, cancellations, refunds and safety issues, if any,” Prabhu said in a tweet. “Asked him (civil aviation secretary) to get a report on Jet compliance issues immediately from DGCA,” he added. Cash-strapped Jet Airways had on Monday said it had grounded four more planes, taking the number of aircraft that are non-operational due to non-payment of lease rental


By The Statesman
March 20, 2019

Business

Demonization of Huawei will prove to be a political farce

A China Daily editorial looks at the ongoing fracas involving tech giants Huawei. China’s Palace Museum signed an agreement on Friday with Huawei Technologies Co Ltd to promote the use of its 5G telecommunications technology. With the new generation telecoms technology, the Forbidden City, which is the tourist site that welcomes the largest number of visitors in the world each year, will definitely provide state-of-the-art services. Supported by the much faster mobile network, the museum will likely be digitalized to such an extent that visitors thousands of miles away may be able to explore it in virtual reality. And those visiting it in person will be able to learn about the treasures it houses in greater detail with the aid of digital technology. In the past 20 years since the museum started to facilitate its work with digital technology, a lot of information about the cultural relics it preser


By China Daily
March 18, 2019

Business

Lotte seeks to exit China after investing $7.2b

The super conglomerate has been aggressively expanding throughout Asia in recent years. Despite its hefty investments in China over the years, Lotte Group appears to be seeking a complete departure from the market that was once highly lucrative, after failing to recover from a boycott campaign which was instigated by diplomatic bickering between Seoul and Beijing. The retail conglomerate was the main target of the diplomatic feud between China and South Korea over the deployment of an anti-missile Terminal High Altitude Area Defense system in 2017 on its golf course at the Lotte Skyhill Country Club in Seongju County. Despite some signs of thawing last year, Lotte continued to face hardships amid already worsened public sentiments, increased competitiveness of local brands and the popularity of e-commerce. Since entering the Chinese market with Lotte Mart store in 2004, the group has invested 8 t


By The Korea Herald
March 14, 2019

Business

Xi backs private companies

Government should help create favorable business climate, president says. President Xi Jinping reaffirmed China’s commitment to supporting the development of private businesses during a discussion with National People’s Congress deputies from Fujian province on Sunday. The government should implement supportive measures and policies, build a fair, transparent and legal environment and create a good atmosphere for the development of private companies, said Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission. In his speech, Xi said the government must create a good environment that promotes innovation, entrepreneurship and creativity throughout society. The government should provide healthy conditions for small and medium-sized companies and for the development of young people, Xi said. After a speech


By China Daily
March 11, 2019

Business

Nissan wary of Ghosn rekindling coup theory

Former CEO Carlos Ghosn was released this week on bail. Nissan Motor Co. has been wary of renewed criticism toward it since its former Chairman Carlos Ghosn was released on bail Wednesday. Ghosn is said to believe that his arrest was the result of a coup carried out by senior Nissan officials who were against his plan to integrate Nissan and French automaker Renault SA. It’s possible he will step up criticism of the Nissan leadership. “We’ll be in a bind if public opinion is swayed,” said a senior Nissan official who couldn’t hide his wariness. The official spoke on Wednesday morning as Ghosn’s release on bail was imminent and apparently feared the coup theory would flare up again. Ghosn had begun hinting at the integration of Nissan and Renault in the winter of 2017, another senior Nissan official said.


By The Japan News
March 8, 2019