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Nissan's Ghosn crisis

Nissan to correct Ghosn's pay listed in securities reports

Impact on automaker's past financial statements still unclear

The total fallout from the arrest of Nissan Motor Chairman Carlos Ghosn is still unclear.   © Reuters

TOKYO -- Nissan Motor plans to revise past securities reports that understated its compensation to embattled Chairman Carlos Ghosn, though it is unclear just how extensive a correction the company will have to issue.

The automaker has admitted to underreporting the amount paid to Ghosn, who was arrested on suspicion of violating Japan's Financial Instruments and Exchange Act. The incorrect information is believed to appear in its securities reports filed between fiscal 2010 and fiscal 2014, under a section that listed the compensation of directors making 100 million yen ($888,000) or more.

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