A variety of factors contributed to Nissan's weak performance, including the slumping Chinese auto market and problems in North America.
The move came on the same day that Japan's second-largest automaker announced its 2018 fiscal earnings had plummeted to their lowest level in 11 years. And the scandal surrounding the arrest of the man once credited with saving Nissan is getting at least some of the blame.
A variety of factors contributed to Nissan's weak performance for the fiscal year, including the slumping Chinese automotive market as well as problems in North America. The automaker had to adjust production and lay out lavish incentives to compensate for overly aggressive sales targets. The turmoil and earnings decline has shined a harsh spotlight on CEO Saikawa, though the 65-year-old Nissan veteran has, in turn, been pointing his finger at his one-time mentor, Ghosn, since the Brazilian-born executive was arrested last November.
And the Ghosn case doesn't appear to be going away any time soon, as the latest development demonstrates.after landing at Tokyo's Haneda Airport, he was initially charged with concealing some of his income. Prosecutors have piled on a series of additional charges since then while Ghosn was locked up in the Tokyo Detention Center for five months.
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