NHK has learned that Carlos Ghosn, Chairman of Nissan Motor have been making the company pay for family trips among other examples of financial misconduct.
Nissan's stock tumbled on Tuesday, briefly sinking more than 6 percent. The arrests of some executives fueled concerns among investors about the carmaker's future.
Japan's Fiscal System Council has called for implementation of social security reforms that had been put off over the past 30 years.
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Key words : family trips
https://www3.nhk.or.jp/nhkworld/en/news/20181120_36/
NHK has learned that arrested Nissan Motor Chairman Carlos Ghosn used company funds to pay for family trips.
Ghosn was arrested on Monday on suspicion of underreporting his income by about 44 million dollars over 5 years until 2015.
Sources say Nissan provided Ghosn with luxury homes in 4 countries and paid tens of millions of dollars for no legitimate business reason to the affiliate company that owns them. The homes were in Rio de Janeiro, Beirut, Paris and Amsterdam.
Sources have told NHK that Ghosn also had a Nissan subsidiary pay hundreds of thousands of dollars for his family trips and dining.
Tokyo prosecutors are investigating the allegations.
Key words : ghosn long demonstrated
https://www3.nhk.or.jp/nhkworld/en/news/20181120_05/
Carlos Ghosn has long demonstrated strong leadership as head of Nissan Motor. It is almost certain that his arrest will force the automaker to review its business strategy.
Ghosn was arrested on Monday on suspicion of underreporting his income by 5 billion yen, or about 44 million dollars. Another Nissan executive, Greg Kelly, was also apprehended.
Nissan's President Hiroto Saikawa told reporters on Monday that he believes the power concentrated in the hands of one person was one of the factors behind the incident.
Ghosn moved from French automaker Renault to its partner Nissan in 1999 to rescue the then-ailing the Japanese carmaker using cost-cutting means.
He has worked to maintain the alliance between Nissan, Mitsubishi Motors and Renault, of which the French government is a major shareholder.
Nissan plans to launch a panel of third-party experts and others as soon as possible to look into the case.
Key words : pay executive
https://www3.nhk.or.jp/nhkworld/en/news/20181120_20/
NHK has learned that Nissan Motor used to pay to its executives nearly 9 million dollars less than the amount approved at its annual shareholders' meeting. Tokyo prosecutors suspect part of the amount may have gone to Chairman Carlos Ghosn.
Ghosn was arrested on Monday on suspicion of underreporting his income by about 44 million dollars over the 5-year period up until March 2015. Another Nissan executive, Greg Kelly, was also arrested.
Since 2010, the shareholders' meeting approved that an annual combined sum of about 27 million dollars be paid to its executives.
But the actual amount paid to the executives every year was about one third less than the approved total.
Ghosn was reportedly authorized to decide how to allot the pay to each of the executives.
Key words : stock tumbled briefly sinking
https://www3.nhk.or.jp/nhkworld/en/news/20181120_31/
Nissan's stock tumbled on Tuesday, briefly sinking more than 6 percent. The arrests of its executives fueled concerns among investors about the carmaker's future.
Its shares ended the day down 5.4 percent, tumbling to 950 yen. That was its lowest price in more than 2 years. Nissan's alliance-partner, Mitsubishi Motors, fell 6.8 percent to 680 yen.
Analysts say many investors are worried about the future course of Nissan and Mitsubishi Motors. But some say the impact on overall Tokyo stocks should be limited, as the Nissan Group is rare among Japanese companies for its generous compensation of its executives.
Key words : fiscal system called for
https://www3.nhk.or.jp/nhkworld/en/news/20181120_28/
Japan's Fiscal System Council has called for implementation of social security reforms that had been put off over the past 30 years.
The council on Tuesday submitted to the Finance Ministry a set of proposals for the fiscal 2019 budget draft.
The council summed up the soon-to-end Heisei era as times during which Japan's government could not resist pressure to increase benefits and to ease or defer burdens, when it should have taken steps to prevent a fiscal dilemma.
It warned that economic stimulus measures to be included in the fiscal 2019 budget to offset the upcoming consumption tax increase must not become a further fiscal burden.
The council also called for social security reforms that would have people aged 75 or above to pay more at medical institutions. In addition, the percentage of payment by people receiving nursing care will be phased up to 20 percent.
Council chair Sadayuki Sakakibara stressed that the fiscal 2019 budget must be compiled with a strong will to discontinue deficit financing, keeping in mind how much debt Japan has amassed over the past 30 years.
Key words : Motegi
https://www3.nhk.or.jp/nhkworld/en/news/20181120_33/
Japan's minister for the Trans-Pacific trade pact, Toshimitsu Motegi, has stressed the need for more members to join.
Six of 11 member nations have ratified the deal so far, clearing the bar for it to take effect on December 30th.
Lead negotiators of the 11 countries gathered for a 2-day meeting in Tokyo on Tuesday.
Motegi said that with international concerns about protectionism on the rise, the TPP needs to increase its membership.
He said he hoped for progress in getting more members to join at the next TPP ministerial meeting in Japan in January.
At the 2-day meeting, members will share views on how the TPP is working after it takes effect, as well as on procedures for new members to join.
Japan aims to strengthen ties with countries that believe in free trade ahead of trade talks with the United States set to start in January.
Key words : China and the United
https://www3.nhk.or.jp/nhkworld/en/news/20181120_30/
China and the United States have indirectly criticized each other over the failure of the APEC summit to release a joint communique.
The Asia-Pacific Economic Cooperation meeting ended on Sunday without a Leaders' Declaration, for the first time ever.
China's Foreign Minister Wang Yi made a veiled criticism of the US. According to the Chinese government, Wang told media outlets that some individual economies kept pushing their proposals on other members.
He said it was an attempt to deflect criticism about their protectionist and unilateral stances.
Wang said they refused to accept what he called rational revisions suggested by China and others.
He claimed this caused dissatisfaction among many members.
Meanwhile, US State Department spokesperson Heather Nauert released a statement that was seen as criticizing China.
It said the US was "fully prepared to join consensus on the draft APEC statements, agreeing to promote free and fair trade." The statement added that "It is unfortunate that not all economies could support these positions."
Key words : Germany entry
https://www3.nhk.or.jp/nhkworld/en/news/20181120_08/
Germany's government has announced an entry ban on 18 Saudis suspected of involvement in the killing of Saudi journalist Jamal Khashoggi. The move effectively bars them from entering Europe's 26-country passport-free Schengen area.
Foreign Minister Heiko Maas made the announcement on Monday in response to the murder of the journalist in the Saudi consulate in Istanbul.
The government has not revealed the names of the 18 suspects. Local media have reported that Crown Prince Mohammed bin Salman is not among them.
Maas said Germany had discussed the latest sanctions with the United Kingdom and France.
Maas told reporters that there are still more questions about the incident than answers. He called on Saudi Arabia to get to the bottom of what really happened to the journalist.
The move follows the announcement last week by the United States of sanctions on 17 high-ranking Saudi government officials.
Germany's economics ministry announced on the same day that the country would ban all arms sales to the kingdom.
Key words : US federal
https://www3.nhk.or.jp/nhkworld/en/news/20181120_35/
A US federal judge has temporarily blocked President Donald Trump's ban on asylum for migrants who enter the country illegally.
Several thousand Central American migrants are traveling north in Mexico to seek asylum in the United States. Some of them have already arrived in a city on the US border.
A US district judge in San Francisco issued a temporary restraining order against Trump's policy on Monday.
Earlier this month, the Trump administration announced that migrants would only be eligible for asylum if they come through official ports of entry, and that the US will refuse asylum for those who cross the border illegally.
Before the ban, it was possible to apply for asylum even after entering the country illegally.
US human rights groups had sued the Trump administration over the ban on asylum. They claimed that US law allows people to seek asylum regardless of how they enter the country.
Key words : Japan announced Nepal
https://www3.nhk.or.jp/nhkworld/en/news/20181120_25/
Japan has announced it is giving Nepal a significant aid package to help the country overcome a food shortage.
The foreign ministers of the two countries reached the agreement for around 3 million dollars.
Nepal will use the money to buy Japanese rice for about 100,000 people.
Japanese Foreign Minister Taro Kono said that Tokyo will continue working with the country which opened a new chapter in its history with successful elections last year.
Nepalese Foreign Minister Pradeep Kumar Gyawali said he wants partnership with Japan for investment and advanced innovative technology in Nepal.
The country has been trying to expand its economy with the help of foreign investment.
But a powerful earthquake 3 years ago destroyed the farming industry and hampered production.
The country is suffering from a food shortage, and child malnutrition has become a serious problem.
Key words : commemorative
https://www3.nhk.or.jp/nhkworld/en/news/20181120_29/
A commemorative event has been held in Tokyo to mark the release of guidelines drawn up by the UN Children's Fund, or UNICEF, aimed at protecting children from violence and excessive training in sports.
About 130 people attended Tuesday's event, which was organized by the Japan Committee for UNICEF.
Committee Chairperson Ryoko Akamatsu said she hopes sports will genuinely support healthy growth and fruitful lives for children.
Daichi Suzuki, chief of the Japan Sports Agency, said he expects that the value of sports will reach every child as efforts are made to follow the new guidelines.
The guidelines call on sports organizations to keep in mind that a "win-at-all-costs" mentality is not in the best interests of children. They stress the importance of the eradication of violence, excessive training, and power harassment in sports.
UNICEF officials plan to ask for the cooperation of schools and the business community to help implement the guidelines.
Key words : news key word for today children's rights in sports
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Key words : Japanese companies operating
https://www3.nhk.or.jp/nhkworld/en/news/20181120_17/
Japanese companies operating in China and Taiwan are having difficulty securing local talent. Murata Manufacturing has decided to look for capable students in Japan, offering them positions before they graduate and return home.
The major electronic-parts maker has held its first job fair targeting students from China and Taiwan. About 40 attended the event in Tokyo.
Recruiters explained the company is trying to expand its production hubs in China and Taiwan. It wants to boost its output of electronic components for cars and smartphones.
The recruiters provided job descriptions. Students then took a written test.
A student from Taiwan said, "I want to use the skills I learn in Japan and make a contribution back home."
And a student from China said, "I'd like to work in sales at the Shanghai branch."
Murata officials say they are going to hold another session in Kyoto. They plan to offer jobs to about 30 students by year-end.
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