August 25, 2019, 9:38


France Demands Japan Accept Renault-Nissan Merger After Ghosn Scandal – Reports

France Demands Japan Accept Renault-Nissan Merger After Ghosn Scandal – Reports

In December, French President Emmanuel Macron and Japan’s Prime Minister Shinzo Abe agreed to secure stable relations between the alliance of three-way automaker, which consists of Renaut, Nissan, and the Mitsubishi Motors Corp.

French authorities have pressed Japan to agree to a merger of France’s Renault SA and Japan’s Nissan Motor Co after the arrest of ex-Nissan Chairman Carlos Ghosn, the Japan Times reported on Sunday. 

The demand, which has been voiced during top-level negotiations in Tokyo, directly stems from French President Emmanuel Macron.

READ MORE: Tokyo Prosecutors Indict Ex-Nissan Chairman Ghosn on New Charges — Reports

The request comes after last month, Macron and Japanese Prime Minister Shinzo Abe discussed the matter, agreeing to secure stable relations between the three-company alliance — Renaut, Nissan and Mitsubishi Motors Corp. 

According to reports, former Nissan head Carlos Ghosn had plans to merge the two automakers prior to his detention.

In November, Carlos Ghosn was arrested on allegations of misreporting his earnings over a five-year period, from 2010. Despite denying the accusations, a court ruled to extend Ghosn’s arrest in 2018 to 1 January.

The prosecutor’s office later brought new charges against Ghosn, suspecting him of shifting a personal investment loss worth more than $16 million onto the Japanese automaker. On 31 December 2018, a Tokyo court decided to extend Ghosn’s detention by another 10 days, until 11 January, as part of an arrest warrant linked to breach of trust.

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