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The financial reports also did not mention annual compensation of 100 million to 150 million yen Ghosn received from the automaker’s overseas subsidiaries, the newspaper said. The Wall Street Journal reported, citing people familiar with the investigation, that Ghosn earned 8 billion yen in what Nissan calls unreported deferred compensation in the eight years that ended in March 2018. The structure was formulated in consultation with Kelly, and Ghosn told colleagues that if he was set to receive the deferred money after retirement, it wouldn’t have to be reported in Japanese regulatory filings, the report said designer engraved cufflinks uk online.
The Asahi newspaper also reported, without citing sources, that Ghosn had understated his remuneration at Nissan by around 8 billion yen in the eight years through the fiscal year that ended in March, including 3 billion yen over the last three fiscal years designer engraved cufflinks uk online. Nissan Chief Executive Hiroto Saikawa said last week that a months-long internal investigation had also uncovered evidence that Ghosn used company funds for personal purposes and misrepresented the company’s investments. Japanese public broadcaster NHK reported Nissan paid billions of yen for the purchase and renovation of homes for Ghosn in Rio de Janeiro, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in filings to the Tokyo bourse, it said..
The Nikkei last week reported that Nissan through a British Virgin Island unit of a Dutch venture fund subsidiary bought and renovated homes for Ghosn in Brazil and Lebanon worth around $18 million. Nissan, the report added, also paid several hundred thousand dollars for Ghosn’s family vacations designer engraved cufflinks uk online. The Yomiuri, Japan’s biggest-circulation daily, said Nissan had been paying Ghosn’s elder sister $100,000 a year since 2002 for a non-existent advisory role. She lived in a luxury Rio de Janeiro apartment funded by a Nissan subsidiary, according to the report, which cited unidentified sources..
Japanese media reported that Ghosn and Kelly have denied allegations against them, claiming that part of Ghosn’s compensation had been put aside until he left the company and therefore was not subject to disclosure designer engraved cufflinks uk online. NHK said that Kelly told investigators that he had discussed the plan with other executives at Nissan. Ghosn has yet to make any statement through his lawyers, while The Tokyo District Public Prosecutors remains tight-lipped about what they intend to do with the former Nissan chief and his colleague..
SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Friday it would cancel 4.9 trillion won ($4.4 billion) worth of its shares. Expected to be complete on Dec. 4, the cancellation was the second stage of its previously announced plan to cancel all of its treasury shares in two stages to enhance shareholder value designer engraved cufflinks uk online. The first stage was canceled in May last year, it said. The South Korean tech giant last year rejected pressure from U.S. activist hedge fund Elliott for a major overhaul of its complicated structure, but accepted part of the fund’s proposals by revealing plans to cancel its existing treasury shares by 2018..