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Economy

Nissan's record loan guarantee spotlights lack of transparency

Managerial accountability among issues raised with state-backed assistance

Nissan employs 140,000 people on a groupwide basis. (Photo by Shinya Sawai)

TOKYO -- The Japanese government's de facto guarantee of a record 130 billion yen ($1.22 billion) in emergency loans to Nissan Motor underscores a lack of transparency over coronavirus-related rescue programs for businesses.

The Development Bank of Japan extended over 1.88 trillion yen in crisis response loans between March and July as the virus damaged the national and global economy. Nissan is the only major corporation covered by guarantees from the state-backed Japan Finance Corp.

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