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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

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Nissan Motor : ordered to pay back taxes totaling hundreds of millions of yen

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08/19/2020 | 01:18pm EDT

Nissan Motor Co. has been ordered to pay several hundreds of millions of yen in back taxes in connection with misuse of funds by the Japanese automaker under former boss Carlos Ghosn, sources familiar with the matter said Wednesday.

Japanese taxation authorities concluded that Nissan failed to declare the taxable income in five business years through March 2019, the sources said.

In a report submitted to the Tokyo Stock Exchange in January, Nissan said that Ghosn inappropriately received about 140 million yen ($1.3 million) more as stock-linked compensation. He also used a company business jet for private trips, costing a total of $4.4 million.

In an in-house report released last September, Nissan claimed that Ghosn made or attempted to make Nissan spend at least 15 billion yen illicitly in addition to his remuneration.

According to the sources, the taxation authorities are apparently refusing to let Nissan include some of these expenses -- those incurred by the company's headquarters -- as necessary business costs for tax deduction.

With regard to Ghosn's alleged financial misconduct, the taxation authorities found last year that Nissan had failed to declare about 150 million yen in taxable income in three business years through March 2014.

Ghosn, a former chairman of Nissan, was arrested in November 2018 by Japanese prosecutors for alleged financial misconduct. After being released from a detention facility in Tokyo, he jumped bail and fled to Lebanon in late 2019.

==Kyodo

© Kyodo News International, Inc., source Newswire


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Financials
Sales 2021 7 704 B 73 684 M 73 684 M
Net income 2021 -548 219 M -5 244 M -5 244 M
Net Debt 2021 6 328 B 60 525 M 60 525 M
P/E ratio 2021 -2,74x
Yield 2021 -
Capitalization 1 509 B 14 293 M 14 432 M
EV / Sales 2021 1,02x
EV / Sales 2022 0,90x
Nbr of Employees 136 134
Free-Float 45,6%
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Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 431,11 JPY
Last Close Price 385,60 JPY
Spread / Highest target 284%
Spread / Average Target 11,8%
Spread / Lowest Target -48,1%
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Managers
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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