Ghosn's Retirement Benefits Boosted After 2010

Ghosn's retirement benefits boosted after 2010

NHK has learned that retirement benefits set aside for former Nissan Motor Chairman Carlos Ghosn were sharply increased after 2010. In that year, disclosure of executive remunerations was made mandatory.

Tokyo prosecutors arrested Ghosn on suspicion that he understated his compensation in the carmaker's annual securities reports in violation of the Financial Instruments and Exchange Act. They suspect that he planned to receive the undeclared portion after his retirement.

Sources say Nissan's shareholders meeting in 2007 approved the payments of about 57 million dollars as retirement allowances for its executives. Ghosn was due to receive about 39 million dollars of it.

But the sources say the benefits for Ghosn were raised by more than 21 million dollars sometime after 2010. They say the amount was already booked as Nissan's expenses.

Prosecutors are looking into details of how the retirement allowances were raised so sharply.

Sources say Ghosn has denied allegations against him, saying he sees no illegality involved.