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Nissan profit rises 25% as it books charge for Ghosn compensation

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Feb 12, 2019 5:12 AM 2+ mon ago

Nissan profit rises 25% as it books charge for Ghosn compensation

Nissan profit rises 25% as it books charge for Ghosn compensation {{ source.title }} {{ source.title }} Bloomberg YOKOHAMA, Japan Nissan reported a 25 percent surge in profit in the latest quarter on a richer sales mix despite a one-time charge to cover the contentious deferred compensation ousted Chairman Carlos Ghosn is accused of not properly reporting. Global operating profit advanced to 103.3 billion yen ($937.0 million) in the fiscal third quarter ended Dec. 31, Chief Financial Officer Hiroshi Karube said on Tuesday while announcing They were the first quarterly financials since the Nov. 19 arrest of Ghosn threw Nissan and its alliance with Renault into turmoil. As part of the report, Nissan booked a 9.23 billion yen ($83.7 million) charge for the deferred compensation allegedly owed Ghosn. That amount, covering the 2009-2017 fiscal years, is the crux of two indictments against former chairman, who remains jailed in Japan. Prosecutors accuse Ghosn of falsifying official company financial filings by failing to report the income as a future liability against the company. Ghosn maintains his innocence saying such pay was neither finalized, not disbursed. Therefore, there was no obligation to report it. Also indicted in the matter are Nissan, as a company, and Greg Kelly, a Nissan director and Ghosn confidant, who allegedly helped Ghosn. Kelly denies the charges, and like Ghosn, is awaiting trial in Japan. Nissan has not entered a plea in the case. But the company's booking of the deferred compensation indicates that it considers the pay a ...

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Nissan operating profit rises 25%; Ghosn charge booked

Nissan operating profit rises 25%; Ghosn charge booked

autonews.com     2+ mon ago

By contrast, U.S. spiffs at Japanese rivals Toyota, Honda, Mazda, Subaru and even Mitsubishi were all below Nissan's in the October-December period. Each of those makers, with the ...

Nissan operating profit rises 25%; $84M Ghosn charge recorded

Nissan operating profit rises 25%; $84M Ghosn charge recorded

autonews.com     2+ mon ago

By contrast, U.S. spiffs at Japanese rivals Toyota, Honda, Mazda, Subaru and even Mitsubishi were all below Nissan's in the October-December period. Each of those makers, with the ...

Ghosn, Kelly, Nissan indicted for under-reporting compensation

autonews.com     4+ mon ago

Nissan's internal probe accuses Ghosn of hiding some 9 billion yen ($79.9 million) in deferred compensation. TOKYO - Tokyo prosecutors have indicted ousted Nissan boss Carlos Ghosn, close aide Greg K...

Nissan?s Ghosn denies every charge

atimes.com     3+ mon ago

Nissan s Ghosn denies every charge The executive and his lawyer launch a combative defense, but systemic odds in Japan s judicial system are stacked against them ...

Nissan former executive Kelly defends Ghosn compensation -NHK

reuters.com     5+ mon ago

TOKYO, Nov 24 (Reuters) - Former top Nissan Motor executive Greg Kelly, arrested with former chairman Carlos Ghosn over alleged financial misconduct, has said Ghosn's compensation was appropriate and ...

Nissan slashes profit forecast as Ghosn arrest hurts brand appeal

autoblog.com     3+ hour, 5+ min ago

TOKYO -- Nissan cut its profit forecast for the fiscal year through March on Wednesday to reflect slowing sales, higher costs and the fallout from a criminal investigation of its former chairman, Carl...

Ghosn, Kelly, Nissan all indicted for under-reporting compensation, reports say

autonews.com     4+ mon ago

Nissan's internal probe accuses Ghosn of hiding some 9 billion yen ($79.9 million) in deferred compensation. TOKYO - Tokyo prosecutors have indicted ousted Nissan boss Carlos Ghosn, close aide Greg K...

Renault, Nissan prepare to move on as heat rises on Ghosn

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yahoo.com     5+ mon ago

Renault, Nissan prepare to move on as heat rises on Ghosn Joseph Schmid with Kyoko Hasegawa and Hiroshi Hiyama i...

Nissan slashes profit amid Ghosn scandal, lagging sales

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washingtontimes.com     8+ hour, 28+ min ago

Nissan Motor Co. is expecting to post a 319 billion yen profit ($2.9 billion) for the fiscal year, marking a 22 percent drop from its earlier 410 billion yen ($3.7 billion) profit ...

Nissan slashes profit amid Ghosn scandal, lagging sales

federalnewsnetwork.com     9+ hour, 5+ min ago

Nissan Motor Co. expects to post a 319 billion yen ($2.9 billion) profit for the fiscal year, marking a 22% drop from its earlier 410 billion yen ($3.7 billion) forecast. Nissan said the downgrade re...

Nissan slashes profit amid Ghosn scandal, lagging sales

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wtop.com     8+ hour, 53+ min ago

Nissan Motor Co. said Wednesday it expects to post a 319 billion yen profit ($2.9 billion) for the fiscal year, marking a 22 percent drop from its earlier 410 billion yen ($3.7 bil...

Nissan slashes profit amid Ghosn scandal, lagging sales

seattletimes.com     9+ hour, 7+ min ago

Nissan Motor Co. said Wednesday it expects to post a 319 billion yen profit ($2.9 billion) for the fiscal year, marking a 22 percent drop from its earlier 410 billion yen ($3.7 billion) profit forecas...

Nissan slashes profit amid Ghosn scandal, lagging sales

abcnews.go.com     9+ hour, 15+ min ago

Nissan has lowered its profit forecast for the fiscal year through March as the Japanese automaker, contends with slowing sales and the fallout from the loss of its former chairman, Carlos Ghosn. Nis...

Nissan downgraded on weak profit outlook after Ghosn arrest

autonews.com     2+ mon ago

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Nissan books $84 million Ghosn-related charges, cuts outlook

oann.com     2+ mon ago

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Carlos Ghosn: Former Nissan boss hit with fresh charge

Carlos Ghosn: Former Nissan boss hit with fresh charge

bbc.co.uk     2+ day ago

Former Nissan boss Carlos Ghosn has been indicted by prosecutors in Japan on a fresh charge of aggravated breach of trust. It is the fourth charge brought against Mr Ghosn and rel...

Nissan sacks Carlos Ghosn as chairman

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israelnationalnews.com     5+ mon ago

Nissan sacks Carlos Ghosn as chairman Following the arrest of Renault-Nissan-Mitsubishi chairman Carlos Ghosn for Financial Misconduct...

PNC Financial quarterly profit rises 25 pct

reuters.com     9+ mon ago

PNC Financial quarterly profit rises 25 percent Reuters Staff 1 Min Read (Reuters) - PNC Financial Services Group Inc (PNC.N) on Friday posted a 25 percent rise in quarterly profit, as the U.S. region...

PNC Financial quarterly profit rises 25 pct

dailymail.co.uk     9+ mon ago

July 13 (Reuters) - PNC Financial Services Group Inc on Friday posted a 25 percent rise in quarterly profit, as the U.S. regional bank earned more from higher interest rates and fee income rose. Net i...

Ghosn arrested as Nissan seeks his dismissal for misconduct

europe.autonews.com     5+ mon ago

Ghosn arrested as Nissan seeks his dismissal for misconduct Ghosn arrested in misconduct probe; Nissan to seek his removal ...

Nissan board boots Carlos Ghosn as chairman

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cbsnews.com     5+ mon ago

Nissan Motor Co. fired Carlos Ghosn as chairman Thursday, curtailing the powerful executive's nearly two decade long reign at the Japanese automaker after his arrest for alleged fi...

Going, Going, Ghosn Fired As Nissan Chairman

zerohedge.com     5+ mon ago

Thu, 11/22/2018 - 08:09 Nissan's board on Thursday fired Carlos Ghosn as chairman and representative director, ousting the main architect of the automaker's alliance with France's Renault and Japanes...

Carlos Ghosn Leaves Renault as It Tries to Heal Rift With Nissan

nytimes.com     3+ mon ago

PARIS -- Carlos Ghosn has resigned as chairman and chief executive of Renault, according to France's finance minister, as the French automaker turns its focus to securing the future of the world's big...

Ex-Nissan boss Carlos Ghosn hit with fresh charge in Japan

theguardian.com     2+ day ago

Japanese prosecutors indicted former Nissan chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention...

Nissan confirms Carlos Ghosn dismissed as chairman

Nissan confirms Carlos Ghosn dismissed as chairman

washingtontimes.com     5+ mon ago

In an hours-long meeting, the company's board of directors voted unanimously to dismiss Ghosn as chairman and as a representative director, Nissan Motor Co. said in a statement. E...

Nissan board ousts Carlos Ghosn as chairman

Nissan board ousts Carlos Ghosn as chairman

cnbc.com     5+ mon ago

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Ghosn custody extended as Nissan crisis deepens

Ghosn custody extended as Nissan crisis deepens

news.sky.com     5+ mon ago

Carlos Ghosn custody extended as Nissan crisis deepens Japanese media say local authorities have been granted more time to speak to Nissan's chairman about ...

Former Nissan boss Carlos Ghosn hit with fresh charge in Japan

theguardian.com     2+ day ago

Japanese prosecutors indicted former Nissan chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention...

Ex-Nissan Chairman Ghosn indicted on aggravated breach of trust charge

reuters.com     2+ day ago

TOKYO (Reuters) - Japanese prosecutors indicted former Nissan Motor Co Chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against h...

Adding to Ghosn woes, Nissan set to further slash profit outlook: report

reuters.com     11+ hour, 43+ min ago

TOKYO (Reuters) - Nissan Motor Co Ltd could be heading for a bigger-than-expected earnings drop due to weakness in its top markets, just as it adjusts to a future without Carlos Ghosn and grapples wit...

Japan to indict Nissan as well as Ghosn: report

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phys.org     3+ mon ago

Carlos Ghosn's November 19 arrest in Tokyo shook the business world, where he has long been a highly regarded top executive Tokyo prosecutors have decided to indict Nissan as well...

Nissan board fires Ghosn as chairman following arrest

abcnews.go.com     5+ mon ago

Nissan board to decide on dismissing Ghosn as chairman By The Associated Press TOKYO Nov 21, 2018, 11:39 PM ET ...

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