Detained car company boss Carlos Ghosn spoke of his “love” for Nissan on Tuesday as he fought back against a string of allegations for the first time.
The 64-year-old automotive titan hit back at the explosive allegations and said he “cared deeply” about the Japanese firm in court. He was said to be looking “gaunt” and with a rope around his waist as is customary in Japanese courtrooms.
Prosecutors have charged Ghosn with overinflating his pay and also allege he pushed personal investment losses onto Nissan.
Ghosn said all the claims were “meritless”. His legal team, led by former public prosecutor Motonari Otsuru, are submitting an application to end his time inside ahead of a possible indictment when the detention period ends on January 11.
The scandal has rocked the car world and jeopardised an alliance between Nissan and French carmaker Renault, also run by Ghosn, amid claims the affair is part of a plot to give Nissan more power in the tie-up.
The appearance, which prompted 1122 people to enter a ballot for 14 seats in the courtroom, is the first time Ghosn, seen as a flight risk, has been seen in public since his arrest on November 19.
“I have genuine love and appreciation for Nissan. I believe strongly that in all of my efforts on behalf of the company, I have acted honourably, legally, and with the knowledge and approval of the appropriate executives inside the company,” he said.
To underscore the point, Ghosn, pictured in an artist’s impression, said he had been approached by four rival carmakers, including General Motors and Ford, when he was at Nissan but his love for the company stopped him leaving.
The Brazilian-born boss denied he had received compensation from Nissan which was not disclosed and said the pay arrangements, which relate to retirement payments, had been reviewed by external and internal lawyers.
He added allegations he pushed personal losses onto Nissan were linked to temporary collateral from the company to cover foreign exchange contracts hedging his salary during the financial crisis.
One option at the time was for him to resign from the company and use his retirement pot as the collateral but he said “a captain doesn’t jump ship in the middle of a storm”.
