The Securities and Exchange Surveillance Commission (“SESC”) today recommended that the Financial Services Agency (“FSA”) should issue an administrative monetary penalty payment order of 2,424,895,000 yen against Nissan Motor Co., Ltd. (the “Company”) in relation to the Company’s disclosure documents as listed below.
The Company takes this recommendation extremely seriously and will consider its response after receiving the FSA’s official notice. In the absence of any special circumstances or other reasons, the Company intends not to dispute the alleged facts and the amount of the administrative monetary penalty.
With regard to the officers’ compensation disclosures in the Company’s Annual Securities Reports for the fiscal years 2005 through 2017, the Company voluntarily submitted its Correction Reports to the Kanto Local Finance Bureau on May 14, 2019. The disclosure items listed in the SESC’s recommendation have already been corrected in these Corrections Reports.
The Company expresses sincere regret for any concern caused to our valued stakeholders, and will continue its efforts to strengthen its governance and ensure that the Company’s operations reflect full awareness of the importance of compliance.
Financial disclosures subject to the SESC’s recommendation
- Annual Securities Reports for fiscal years 2014 through 2017
- Shelf registration supplement submitted on April 8, 2016
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