Handcuffed business hero protests his innocence from the dock

There’s been massive media coverage around the world this week of the court appearance by the former Nissan chairman Carlos Ghosn in Tokyo.

More than 1,100 people – some of them Nissan shareholders – queued for 14 seats in the public gallery.

Places for reporters were assigned by a lottery and no filming or photographs were allowed in court. However, artists were allowed to draw pictures of the accused and they provided the press with sketches of Mr Ghosn looking gaunt and stressed.

Detention without trial

Those images were beamed around the world, with a reminder that Mr Ghosn has been held in detention for fifty days without trial. He was led into the court in handcuffs and with a restraint around his waist.

Mr Ghosn was arrested out of the blue in November and accused of not disclosing his full compensation and of using company money for personal gain.

The court appearance itself was short – only ten minutes – during which he read from a prepared statement protesting his innocence.

He challenged allegations made by his former colleague, Nissan CEO Hiroto Saikawa, who has suggested that his former boss had “remained in charge too long and had come to treat Nissan as his personal fiefdom and was driven increasing by greed,” according to the Financial Times.

In response, Mr Ghosn said that he had dedicated two decades of his life to reviving Nissan and building its alliance with Renault. “I worked towards these goals day and night on earth and in the air, standing shoulder to shoulder with hard-working Nissan employees around the globe to create value,” he said.

Defence tactics

The BBC turned to an old friend, Seijiro Takeshita of Shizuoka University for analysis. He said: “Mr Ghosn wanted his voice heard. His tactic is to say that the top management of Nissan were aware of all his actions, so if Nissan knew about this, the focus will be on Nissan’s approach to corporate governance, rather than just Mr Ghosn personally,” said Professor Takeshita.

The FT’s Tokyo correspondent Leo Lewis discussed the case with Jesper Koll of Wisdom Tree Japan, a robust critic of Japanese business and government, who loves the media limelight. Mr Koll suggests that the arrest of Mr Ghosn is a national embarrassment which shows corporate reform in Japan has been an illusion.

According to that way of thinking, writes Leo Lewis, “Whether Mr Ghosn has been felled by a corporate coup or some other design, he has fallen victim to an insiders’ club he could never hope to join. These are the rules of Japan Inc – love them or leave them.”

Back to prison

Mr Ghosn has now returned to his cell. The next step is for the court to decide whether to release him. However, prosecutors could arrest him for a fourth time if they have fresh allegations against him – meaning he’ll be locked up for even longer.

The media’s appetite for information about the case is far from satisfied and the story’s likely to stay in the headlines for many months to come.

 

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