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

NISSAN MOTOR CO., LTD.

(7201)
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End-of-day quote. End-of-day quote Tokyo Stock Exchange - 10/23
387.9 JPY   +1.97%
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Nissan: Statement regarding the first court hearing on the violation of the Japan Financial Instruments and Exchange Act by former chairman and former representative director

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09/15/2020 | 11:23am EDT

YOKOHAMA, Japan - On September 15, the Tokyo District Court held its first hearing on the case involving Greg Kelly and Nissan Motor Co., Ltd., concerning the violation of the Japan Financial Instruments and Exchange Act (submission of annual securities reports containing false statements) by former Chairman Carlos Ghosn and former Representative Director Greg Kelly.

Earlier, Nissan had carried out a robust and thorough internal investigation that included external lawyers. Based on substantial and convincing evidence found in the investigation, Nissan established that Carlos Ghosn and Greg Kelly intentionally committed serious misconduct and significant violations of corporate ethics. The company contends that the facts surrounding the misconduct will be shown during the court proceedings and the law will take its course.

Nissan has also been indicted for the violations and takes this situation very seriously. The company has strengthened its governance structure by making it more independent and transparent through its transition to a company with three statutory committees. It has also distributed authority so that internal controls will operate better and has strengthened its internal audit function.

Nissan believes that making false disclosures in annual securities reports greatly harms the integrity of Nissan's public disclosures in securities markets. The company expresses its deep regret for this.

Nissan has filed a civil lawsuit against Ghosn in February 2020, in order to recover a significant part of the monetary damages inflicted on the company by him as a result of years of his misconduct and fraudulent activity.

The company will continue to ensure compliance is maintained in its business operations, including accurate disclosures of corporate information.

Contact

Koji Okuda or Azusa Momose

+81 (0)45-523-5552

nissan_japan_communications@mail.nissan.co.jp

For more information about Nissan's products, services and commitment to sustainable mobility, visit nissan-global.com. You can also follow us on Facebook, Instagram, Twitter and LinkedIn and see all our latest videos on YouTube.

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials
Sales 2021 7 711 B 73 625 M 73 625 M
Net income 2021 -558 599 M -5 334 M -5 334 M
Net Debt 2021 6 289 B 60 046 M 60 046 M
P/E ratio 2021 -2,71x
Yield 2021 -
Capitalization 1 518 B 14 487 M 14 493 M
EV / Sales 2021 1,01x
EV / Sales 2022 0,89x
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 387,90 JPY
Spread / Highest target 282%
Spread / Average Target 11,1%
Spread / Lowest Target -48,4%
EPS Revisions
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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