Nissan insider key to Ghosn s downfall speaks in court
Reed Stevenson, Bloomberg
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Greg Kelly, former representative director of Nissan Motor Co., arrives at the Tokyo District Court for his first trial in Tokyo on Sept. 15, 2020.Bloomberg photo by Kiyoshi Ota.
More than two years after the arrest of auto titan Carlos Ghosn on charges of financial crimes, the Nissan Motor Co. executive said to be key to the downfall of the carmaker s former chairman has broken his silence.
Hari Nada, a senior vice president at the Yokohama-based company, appeared in the Tokyo District Court on Thursday, taking the stand in the trial of Greg Kelly, the former Nissan director who was arrested on the same day as Ghosn in November 2018.
French automaker Renault SA on Tuesday reported a sharp decrease in last year’s sales amid the COVID-19 pandemic, while unveiling its plans for a transition to electric and hydrogen-powered vehicles.
The group, which includes Japanese brands Nissan Motor Co and Mitsubishi Motors Corp, has suffered since it missed out on a tie-up with Fiat-Chrysler, and former chairman Carlos Ghosn was accused of financial misconduct by Japanese authorities.
Renault laid out a roadmap to recover the initiative after sales by volume slumped by 21.3 percent last year to 2.9 million vehicles in a market that was 14.2 percent lower overall.
The fall was “principally
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(Reuters) - Japan’s Mitsubishi Motors Corp sees hybrid models in Southeast Asia as a key part of its electrification strategy to stay competitive in the region, Chief Executive Takao Kato told Reuters in an interview.
FILE PHOTO: Mitsubishi Motors CEO Takao Kato speaks during the Tokyo Motor Show, in Tokyo, Japan October 23, 2019. REUTERS/Soe Zeya Tun/File Photo
While some Southeast Asian governments are trying to promote full battery electric vehicles (EVs) as a way to cut CO2 emissions, Kato said conventional gasoline-electric vehicles and plug-in electric hybrids were “probably a more realistic a choice for the region for now”.
Sales saw the most extreme fall in nine years, according to data from industry bodies. Car demand usually grows toward April but uncertainty remains as COVID-19 cases surge.
These Are the Winners and Losers in Japan’s 2020 Stock Market
Bloomberg 12/30/2020 Kurt Schussler
(Bloomberg) More time at home, reduced mobility and billionaire Masayoshi Son helped drive stocks in Japan in 2020, as the coronavirus pandemic became the dominating force separating winners from losers.
While the stay-at-home trend boosted game makers and online retailers including Nexon Co. and Mercari Inc., heightened health concerns saw drugmakers and medical-care innovators such as M3 Inc. also feature among the biggest gainers. At the other end of this teeter-totter were companies that thrive on domestic movement and foreign tourism: stocks tied to oil and autos, railways and airlines, as well as brick-and-mortar retailers.