Tokyo court denies ex-Nissan chief Ghosn’s bail request

A police vehicle patrols in front of the Tokyo Detention House where former Nissan chairman Carlos Ghosn is being held. (AFP)
Updated 15 January 2019
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Tokyo court denies ex-Nissan chief Ghosn’s bail request

  • Carlos Ghosn faces three charges of financial misconduct and has been detained since November
  • The Tokyo court decision was widely expected

TOKYO: A Tokyo court on Tuesday rejected a request by former Nissan chief Carlos Ghosn for bail following fresh charges, dashing his hopes for an early release from his Japanese jail cell.

The decision means the 64-year-old auto tycoon is likely to stay in custody until his trial, which even his own defense lawyer has admitted could take six months to begin.

The Tokyo District Court said in a statement that “a request filed by lawyers for his bail release was rejected today.”

On Friday, prosecutors pressed formal charges against Ghosn over two more allegations of financial misconduct — all of which the Franco-Brazilian-Lebanese businessman denies.

In a dramatic courtroom appearance on Tuesday, Ghosn denounced the allegations against him, saying he had been “wrongly accused and unfairly detained.”

He has been indicted on two counts of allegedly under-declaring his income by more than nine billion yen ($83 million) in total over eight fiscal years in documents to shareholders.

Ghosn also stands charged with “aggravated breach of trust” over a complex alleged scheme in which he is said to have tried to transfer foreign exchange losses to Nissan’s books.

His ongoing detention has prompted some international criticism of Japan’s legal system, which permits prosecutors to hold suspects while they investigate an allegation, and also allows lengthy pre-trial detention once charges have been filed.

Carole Ghosn, his wife, has alleged her husband is being held in “harsh” conditions and subjected to round-the-clock interrogations intended to extract a confession.

In a letter to Human Rights Watch, she sought to “press the government to reform its draconian system of pretrial detention and interrogation.”

But deputy chief prosecutor Shin Kukimoto has defended Japan’s investigative procedures, saying he had anticipated overseas criticism.

“We expected various reactions since it is a criminal investigation into a globally famous person,” he said.

“We are acting appropriately in accordance with the existing laws.”

However, some local media have expressed understanding of the criticism from overseas. The Asahi Shimbun daily said in an editorial that the country “needs a debate toward improvement” of its controversial legal system.

Ghosn’s lawyer has acknowledged his client is unlikely to be freed before a trial, and that the case could take six months to come to court given its complexity and the need to translate documents into Japanese and English.

The former Nissan chief has so far been denied visits from anyone except his lawyers and diplomats from the three countries where he holds citizenship — Brazil, France and Lebanon.

But a court ruling last week means Ghosn’s family can now visit him..

Ghosn has appeared in public just once since his shock November 19 arrest, during last week’s court hearing which was called after his lawyers requested judges explain the tycoon’s ongoing detention.

One of the most recognizable foreign executives in Japan, Ghosn was led into Tokyo District Court in handcuffs and with a rope around his waist, and was noticeably thinner.

His arrest has exposed rifts in the alliance he forged and led between Nissan, Mitsubishi Motors and France’s Renault.

While the two Japanese firms quickly ousted him from leadership roles, Renault has kept him on and its board said Thursday that an ongoing audit has found no sign of fraud in the last two years.

On Friday, Renault decried a “campaign of destabilization” embroiling its alliance with Nissan, as new allegations surfaced over pay arrangements overseen by Ghosn.

Jose Munoz, a top executive widely seen as a close ally to Ghosn, has resigned as the company broadens an internal probe over Ghosn’s case.

Following the latest charges, Nissan announced it had filed its own criminal complaint against its former chief, saying it can’t “tolerate such misconduct and calls for strict penalties.”

Some have suggested Ghosn’s arrest is a form of boardroom “coup” by Nissan against Renault — a junior partner in the alliance but the best performing.

But CEO Hiroto Saikawa dismissed this as “absurd” in an interview with French business daily Les Echos.

“Look at the evidence. It’s serious,” Saikawa was quoted as saying.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.