End of the road for behind the times Nissan

TOKYO – Heated annual meetings are a rarity in corporate Japan. But on June 29, precisely 588 days after ex-CEO Carlos Ghosn was arrested at a Tokyo airport, Nissan’s top executives collided hotly with fed up shareholders.

The Yokohama meeting saw newish CEO Makoto Uchida take investor fire for Nissan’s first annual loss in 11 years: US$6.2 billion worth of red ink in the fiscal year ended in March.

Nissan’s top brass were also forced to deny emerging reports of a corporate conspiracy to oust Ghosn, who was arrested and detained in 2018 for underreporting his earnings and misuse of company assets.