👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Japan Taking Steps to Prevent Another Ghosn-Like Escape

Published 01/05/2020, 09:53 PM
Updated 01/05/2020, 11:31 PM
© Reuters.
RENA
-

(Bloomberg) -- Japan is taking steps to prevent any further lapses like the one that allowed fallen auto titan Carlos Ghosn to leave the country undetected after skipping bail, the justice minister said.

Masako Mori declined to give any details of how Ghosn managed to exit without a trace, telling reporters on Monday that the matter is under investigation. This was the first time a government official has held a news conference about Ghosn’s departure since reports emerged almost a week ago that the former chief of Nissan Motor Co. and Renault SA (PA:RENA) had secretly made his way to Lebanon.

Ghosn, arrested in November 2018 on charges of financial crimes, had been free on bail as he awaited a trial that was scheduled to start this year. He has denied all of the charges, saying that they were part of a conspiracy to prevent further integration between the two automakers.

Mori mostly reiterated remarks from a statement the previous day, saying that Ghosn was thought to have used illegal measures and that this was extremely regrettable. She defended the Japanese criminal justice system, which Ghosn and others have repeatedly attacked as unfair. Mori said the system protected individual rights and was implemented appropriately.

Inspectors at Japan’s Kansai Airport didn’t conduct X-ray checks on large cases that were brought aboard a private jet on which Ghosn is thought to have made his getaway, public broadcaster NHK reported Sunday.

Nissan shares fell to their lowest since 2011 as of midday in Tokyo, following the Ghosn news, an extended bank holiday in Japan and weak U.S. auto sales figures.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.