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MarketScreener Homepage  >  Equities  >  Tokyo  >  MITSUBISHI MOTORS CORPORATION    7211   JP3899800001

MITSUBISHI MOTORS CORPORATION

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Former Nissan chairman Ghosn, CEO Saikawa signed documents related to payments - Asahi

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12/07/2018 | 06:38am EDT
FILE PHOTO: Car manufacturers display their wares on the show floor of the North American International Auto Show in Detroit

TOKYO (Reuters) - Former Nissan Motor Co Ltd chairman Carlos Ghosn signed documents for the Japanese automaker to pay him 1 billion yen ($8.86 million) of deferred annual compensation after he left the company, the Asahi newspaper reported on Friday.

Chief Executive Hiroto Saikawa signed other documents related to payments to Ghosn in the event of departure, the Asahi said, without citing sources.

Ghosn was arrested last month for allegedly conspiring to understate his income by about half for at least five years from 2010. Former Nissan representative director Greg Kelly was accused of assisting.

The arrests shook the auto industry and were followed by Ghosn losing positions at both Nissan and alliance partner Mitsubishi Motors Corp. Ghosn remains chairman and chief executive of French partner Renault.

Prosecutors on Monday plan to indict Ghosn and Kelly over the alleged underreporting of salaries in five annual reports through the business year that ended in March 2015, the Nikkei business daily reported earlier.

The automaker will also be indicted for financial misconduct, the Nikkei said.

Ghosn and Kelly have not made any statements through their lawyers, but Japanese media reported they have denied the allegations.

(Reporting by Tim Kelly; Editing by Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI MOTORS CORPORATION 0.50% 603 End-of-day quote.5.42%
NIKKEI 225 0.20% 21608.92 Real-time Quote.7.75%
NISSAN MOTOR CO LTD -0.11% 951 End-of-day quote.11.09%
RENAULT -1.69% 60.56 Real-time Quote.11.02%
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Financials (JPY)
Sales 2019 2 449 B
EBIT 2019 -
Net income 2019 111 B
Finance 2019 411 B
Yield 2019 3,37%
P/E ratio 2019 8,07
P/E ratio 2020 7,51
EV / Sales 2019 0,20x
EV / Sales 2020 0,19x
Capitalization 894 B
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Number of Analysts 19
Average target price 781  JPY
Spread / Average Target 30%
EPS Revisions
Managers
NameTitle
Osamu Masuko Chairman & Chief Executive Officer
Trevor Mann Chief Operating Officer
Masao Kuruma Chief Information Officer
Harumi Sakamoto Non-Executive Director
Shunichi Miyanaga Non-Executive Director
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