Ousted Nissan Motor chairman Carlos Ghosn has offered to wear an electronic ankle tag and hire guards to monitor him in an unusual bid to secure his release on bail after two months of detention in Japan for alleged financial crimes.
Mr Ghosn is also willing to remain in Tokyo, where he has leased an apartment, and post stock he owns in Nissan as collateral, his spokeswoman said. A new bail hearing is set for Monday after an earlier request was denied due partly to concerns the French executive was a flight risk.
"As the court considers my bail application, I want to emphasise that I will reside in Japan and respect any and all bail conditions the Court concludes are warranted," Mr Ghosn said in a statement released by his US representatives,
Release would allow Mr Ghosn to meet more frequently with his lawyers and defend himself before the board of Renault, where he remains chairman and chief executive, amid calls for his removal and potential moves to restructure the Nissan tie-up, Reuters said.
However, an official at the Japanese justice ministry told Agence France Presse: "There is no system in Japan in which a person accused in a criminal case can be released with such a tracking bracelet.
"The court sets the bail sum and can also add appropriate conditions such as limitations on where the accused should stay," added the official.
As his arrest on November 19 continued to cloud the outlook for Nissan's three-way alliance with France's Renault and Mitsubishi Motors, Nissan said it was not the time to discuss revising the partners' capital ties.
Mr Ghosn, who spearheaded Nissan's turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese firm.
"We are not at the stage for such discussions," Nissan CEO Hiroto Saikawa said on Monday.
Mr Saikawa also said he had not heard directly about a reported French proposal to integrate the Japanese car maker's management with Renault, adding that it was not the time to discuss revising the partners' capital ties.
The Nikkei newspaper reported on Sunday that a French government delegation had informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company.
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"Since I have not heard this directly, I cannot comment," Mr Saikawa said.
Japanese public broadcaster NHK quoted French Economy Minister Bruno Le Maire as telling journalists that an integration proposal was "not on the table now".
A source familiar with Nissan's thinking said the reported French proposal did not "make sense" given the two companies' different cultures, Renault's lower productivity and Nissan's bigger contribution of key technology.
"It's a virtual merger, I don't think it makes sense," the source said, adding he had not heard directly of such a French proposal.
Mr Ghosn denies any wrongdoing as he awaits trial on charges of financial misconduct.
"I will attend my trial not only because I am legally obligated to do so, but because I am eager to finally have the opportunity to defend myself," he said on Sunday.
"I am not guilty of the charges against me and I look forward to defending my reputation in the courtroom."
Renault, which dominates the partnership through its 43.4 per cent stake in Nissan, is expected to meet within days to consider potential candidates to replace Mr Ghosn as chief executive and chairman.
The co-chair of a committee set up by Nissan to examine the root cause of Mr Ghosn's alleged financial misconduct and propose corporate governance reforms said on Sunday he believed Mr Ghosn may have had questionable ethical standards.
"Having read the report on the internal investigation, my initial impression was that the head of the company may have had questionable ethical standards," committee co-chair Seiichiro Nishioka said on Sunday after the panel held its first meeting.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
SQUADS
South Africa:
JP Duminy (capt), Hashim Amla, Farhaan Behardien, Quinton de Kock (wkt), AB de Villiers, Robbie Frylinck, Beuran Hendricks, David Miller, Mangaliso Mosehle (wkt), Dane Paterson, Aaron Phangiso, Andile Phehlukwayo, Dwaine Pretorius, Tabraiz Shamsi
Bangladesh
Shakib Al Hasan (capt), Imrul Kayes, Liton Das (wkt), Mahmudullah, Mehidy Hasan, Mohammad Saifuddin, Mominul Haque, Mushfiqur Rahim (wkt), Nasir Hossain, Rubel Hossain, Sabbir Rahman, Shafiul Islam, Soumya Sarkar, Taskin Ahmed
Fixtures
Oct 26: Bloemfontein
Oct 29: Potchefstroom
Abu Dhabi Sustainability Week
more from Janine di Giovanni
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
SPECS
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ARGENTINA SQUAD
Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez
The Lowdown
Kesari
Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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UK%20-%20UAE%20Trade
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How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
