Asahi: Japan prosecutors likely to build new criminal case against Ghosn

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The future of the Renault-Nissan pact was thrown into balance this week when its chairman Carlos Ghosn was arrested in Japan on allegations that he had under-reported his salary by billions of yen to pay less tax.

After his arrest and subsequent dismissal as chairman on Thursday, Mr Ghosn's role as chief executive of the Renault-Nissan-Mitsubishi Alliance hangs in the balance. The board of directors of the giant of the automotive Nissan, which met on Thursday to decide on the future of its iconic president, Carlos Ghosn, has unanimously chose to revoke it.

Saikawa, 65, has emerged as the main victor from Nissan Chairman Ghosn's shock arrest on Monday for suspected financial offenses, putting him in a position to re-balance what he and others at the Japanese company view as an increasingly lopsided partnership.

Improving the system of management and control remuneration of the management company will be engaged specially created Advisory Committee of three independent Directors, chaired by Masakazu You.

The board of directors at Mitsubishi followed suit on Monday, voting unanimously to remove Ghosn as chairman.

Nissan's internal investigation charged Ghosn with under-reporting his income over many years and for using company capital and expenses for personal use.

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The report also said these more powerful, longer-lasting weather disasters are triggered, at least in part, by global warming . Lindsay Walters, a spokesman for the White House , said the new report was "largely based on the most extreme scenario".

Under the law, companies themselves can also be held accountable for the falsified documents, Kukimoto said, following reports that prosecutors believe Nissan also has a case to answer.

Ghosn is one of the auto industry's most high-profile executives.

The maximum penalty upon conviction for violating finance and exchange laws is 10 years in prison, a 10 million yen ($89,000) fine, or both. Renault owns a 43 percent voting stake in Nissan, which owns 15 percent of Renault - and no voting rights. Nissan did not immediately name an interim chairman. Renault has made a decision to appoint temporary deputy chief executive to take over the running of the firm while Mitsubishi will meet next week to consider their reacting to this situation.

Asked about the coup speculation, a Nissan spokesman said that the company "believes strongly that the investigation revealed serious misconduct spanning multiple years" and that the actions it took against Ghosn were "fully necessary".

Analysts say the costs of the alliance failing would be huge.

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