Japan Watchdog May Seek Fine for Nissan of More Than $19 Million
Japan Watchdog May Seek Fine for Nissan of More Than $19 Million
(Bloomberg) -- Japan’s securities regulator will seek a fine on Nissan Motor Co. of more than 2 billion yen ($19 million) for allegedly under-reporting the pay of the company’s former chairman, Carlos Ghosn, according to a person familiar with the matter.
Japan’s Securities and Exchange Surveillance Commission will start an investigation into the carmaker in July or August, the person said, asking not to be identified because the matter is private.
Depending on the outcome of that probe, the watchdog will recommend the Financial Services Agency impose a fine on Nissan, the person said.
Representatives for the SESC and Nissan declined to comment. Japanese newspaper Asahi first reported the fine being sought on June 26.
To contact the reporters on this story: Takako Taniguchi in Tokyo at ttaniguchi4@bloomberg.net;Ma Jie in Tokyo at jma124@bloomberg.net
To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, ;Brian Bremner at bbremner@bloomberg.net, Angus Whitley, Indranil Ghosh
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