Nissan, Renault Skip Official Top-Level Talks

Tokyo, Dec. 19 (Jiji Press)--Nissan Motor Co. <7201> President Hiroto Saikawa and Renault SA Deputy Chief Executive Officer Thierry Bollore did not have one-on-one talks on the sidelines of a two-day executive meeting of the alliance of Nissan, Renault and Mitsubishi Motors Corp. <7211> in Amsterdam through Wednesday, it has been learned. Saikawa and Bollore met in person for the first time since Carlos Ghosn, who had been leading the Japanese-French automotive alliance, was arrested in Japan last month for allegedly failing to report part of his pay from Nissan. The two had conversations during the first-day session. But the contact did not represent official talks between the top Nissan and Renault executives, according to people familiar with the situation. Upon returning from the Dutch capital, Saikawa told reporters in Tokyo on Wednesday night that he asked the Renault side to make sure that the boards of the two firms stand on an equal footing. "We had good talks," he added. But Saikawa stopped short of going into details. While the outcomes of Nissan's investigations into the Ghosn scandal were not discussed, Saikawa told the Renault side that his company is ready to give an explanation on the probe results, according to informed sources. Ghosn was arrested by Japanese prosecutors on Nov. 19 for the alleged underreporting of executive remuneration. Days later, he was dismissed as Nissan chairman. Earlier this month, he was indicted over the allegations. At the same time, Ghosn was served a fresh arrest warrant, for hiring more of his pay from the Japanese automaker. Mitsubishi Motors also removed Ghosn from the post of its chairman after his first arrest. Meanwhile, Renault has not sacked Ghosn as its chairman. He also stays as chief executive officer of the French automaker. Renault has asked Nissan to convene an extraordinary meeting of its shareholders, apparently aiming to maintain its control of the Japanese firm. Nissan reportedly does not plan to accept the request. During the two-day alliance meeting, executives from the three automakers discussed cooperation on vehicle development and production, the procurement of auto parts and other issues, the sources said. Mitsubishi Motors CEO Osamu Masuko joined the meeting via a teleconference system from Japan. Nissan, Renault and Mitsubishi Motors regularly hold executive meetings in Amsterdam, where the three firms have their alliance headquarters. END