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Nissan’s Former Chairman Seeks Bail

Ghosn and Kelly have denied all charges. Nissan said it regretted any concern caused to its stakeholders

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A court sketch, drawn by Nobutoshi Katsuyama, shows ousted Nissan Motor Co Ltd chairman Carlos Ghosn during an open hearing at Tokyo District Court in Japan, Jan. 8, 2019.(voa)

Nissan’s former Chairman Carlos Ghosn has requested his release on bail after being indicted in Tokyo Friday on two new charges, his lawyers said, as the once-feted auto executive awaits a lengthy criminal trial that could be as long as six months away.

Ghosn was the overlord of an alliance that included Nissan Motor, Mitsubishi Motors and France’s Renault, until his surprise November arrest and removal as chairman of both Japanese automakers sent shockwaves through the industry.

The former executive, lauded for rescuing Nissan from the financial brink two decades ago, was charged with aggravated breach of trust for temporarily transferring personal investment losses to Nissan in 2008.

Ghosn, former Representative Director Greg Kelly and Nissan itself were also charged for understating Ghosn’s income for three years through March 2018. The three parties have been indicted for the same charge covering the years 2010-2015.

Ghosn and Kelly have denied all charges. Nissan said it regretted any concern caused to its stakeholders.

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Bail is rare

It is rare in Japan for defendants who deny their charges to be granted bail ahead of trial. Kelly posted bail on Christmas Day and is unable to leave Japan without special permission.

Ghosn’s lawyer, Motonari Otsuru, expects his client to be held until trial, which he said could begin in about six months.

If bail is granted, Ghosn, who is suffering from fever, according to his lawyer, would not likely be released until Tuesday given that Monday is public holiday.

Kelly, a Ghosn ally, was hospitalized for treatment of a pre-existing neck problem after his release and has since been discharged, said his lawyer Yoichi Kitamura.

“This second indictment for Kelly comes as no surprise as it merely makes what was a five year period for the first into eight years,” Kitamura said.

Kitamura said he expects Ghosn and Kelly to be tried together on the two charges of understating income, and that he will work closely with Ghosn’s legal team.

Nissan complaint

Also Friday, Nissan said it had filed a criminal complaint against its former leader.

The automaker, in a statement, said it filed the complaint “on the basis of Ghosn’s misuse of a significant amount of the company’s funds. Nissan does not in any way tolerate such misconduct and calls for strict penalties.”

Ghosn, 64, appeared in court Tuesday for the first time since his arrest, looking thinner and grayer. He denied the allegations, calling them “meritless” and “unsubstantiated.”

He said he had asked Nissan to temporarily take on his foreign exchange contracts after the 2008-2009 financial crisis prompted his bank to call for more collateral. He said he did so to avoid having to resign and use his retirement allowance for collateral.

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Ghosn’s lawyer Otsuru on Tuesday said Nissan had agreed to the arrangement on condition that any losses or gains would be Ghosn’s. Ghosn said the contracts were transferred back to him and that Nissan did not incur a loss.

On Thursday, the boards of Nissan and controlling shareholder Renault, where Ghosn remains chairman, met for an update on the matter. Nissan later said it remained committed to the alliance. (VOA)

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Japan’s 2018 Greenhouse Emissions Lowest in Two Decades: Report

The Japanese government aims to tackle this problem by introducing new regulations in 2020 to strengthen control over the disposal of hydroflurocarbon-using equipment

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Wind Energy
Low-cost renewable energy technologies like Wind Energy are readily-available today, representing the most effective and immediate solution for reducing carbon emissions. Pixabay

Japan in 2018 recorded its lowest greenhouse gas emissions in two decades thanks to a warm winter and increased generation of nuclear power, according to data released on Friday.

However, the country still has a long way to go to reach its Paris Agreement goal, Efe news reported.

In 2018, total carbon dioxide emissions were recorded at 1.24 billion tons, a year-on-year decrease of 3.6 per cent and the lowest figure since data compilation began in 1990, according to the preliminary figures released by the Japanese Ministry of Environment.

The previous low was recorded in 2009 with 1.25 billion tonnes of carbon dioxide.

Although this is the fifth consecutive year of dropping emissions, the ministry acknowledged that a lot remained to be done to achieve the 2030 goal of 26 percent cut in emissions from the 2013 levels a target set under the Paris climate agreement.

From 2013 to 2018, Japan’s cumulative reduction in greenhouse gas emissions has been 11.8 percent, according to the government’s figures published a week before the 2019 United Nations Climate Change Conference in Madrid.

U.S., Pentagon, Greenhouse Gases
FILE – Air pollution hangs over the skyline as the sun rises over Beijing’s central business district, Jan. 14, 2013. VOA

The government said the main factors that contributed to the reduction were the decreasing production in power stations that use fossil fuels and gradual return to energy generation through nuclear plants.

Japan established a stricter safety framework following a nuclear standstill after the 2011 Fukushima accident.

Although the approval to reactivate was given in 2017, it was not until 2018 that the plants started functioning.

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Household emissions fell by 10 percent in 2018 due to increased use of energy-saving appliances and a warm winter which led to lower usage of heating systems during the season.

However, an increased use of air conditioners caused a 9.4 percent rise in hydrofluorocarbons emissions and other similar compounds.

The Japanese government aims to tackle this problem by introducing new regulations in 2020 to strengthen control over the disposal of hydroflurocarbon-using equipment. (IANS)