Thursday January 17, 2019
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Suzuki launches Made in India Baleno in Japan

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New Delhi: Japanese automobile company Suzuki Motor Corporation on Wednesday launched the Made in India Baleno in Japan, said its Indian subsidiary Maruti SuzukiIndia Ltd.

Maruti Suzuki India said the Baleno model is rolled out only in India at its Manesar facility in Haryana.

Since its Indian launch last year, Maruti Suzuki India has sold over 38,000 units of Baleno cars in domestic market and plans to export it to more than 100 countries, the company said.

“A landmark moment like this is a true testimony to the success of Indian government’s ‘Make in India’ campaign. Launch of ‘Made in India’ Baleno in Japan is a proud moment for all of us.

“This reaffirms Maruti Suzuki’s manufacturing potential and growing importance of Maruti Suzuki India Limited in Suzuki Motor Corporation’s global business strategies. I am confident our Baleno would be well accepted by Japanese customers as well,” managing director and CEO Kenichi Ayukawa said. (IANS) (Image Courtesy:rushlane.com)

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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)