Carlos Ghosn granted bail

Pedestrians pass by a television screen showing a news program featuring former Nissan chief Carlos Ghosn in Tokyo on Jan. 8 2019

Pedestrians pass by a television screen showing a news program featuring former Nissan chief Carlos Ghosn in Tokyo on Jan. 8 2019

Meanwhile, Japanese prosecutors have appealed the Tokyo District Court's decision to approve the executive's request for release from detention, the court said on Tuesday, said Reuters.

The ex-chairman of Renault-Nissan-Mitsubishi Alliance, the world's largest car-making group, was arrested on November 19.

Bail is rarely granted in Japan without a confession and the length of Mr Ghosn's detention had drawn some criticism.

The court grants a release on bail if it determined a suspect is unlikely to destroy evidence or flee.

While his 1 billion yen ($9 million) bail amount would rank among the highest ever in Japan, it is half the amount paid in 2005 by Mitsuru Asada, a businessman who was later convicted of defrauding the government through a beef buy-back program.

On Monday, the head of his defence, Junichiro Hironaka, said he was optimistic Mr Ghosn would be granted bail. The new team, unlike the first one, was able to demonstrate and convince the judge that Ghosn does not pose a threat to stifle evidence, a sticking point the prosecutors have used to argue that he should not be granted bail.

Rather, Takai said that Ghosn being granted bail is a reflection on the country's changing legal system.

A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault.

"Nissan does not have any role in decisions made by courts or prosecutors, and is therefore not in a position to offer a comment", Nicholas Maxfield, a spokesman for the carmaker, said in an emailed statement.

Mr Ghosn appointed a new legal team last month.

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Authorities in Japan are investigating Ghosn's business dealings globally, including in the Middle East and Europe.

In an interview later that month with Japan's Nikkei newspaper, he said Nissan executives opposed to his plans for closer ties with partner Renault were behind the allegations against him.

June 2000: Ghosn becomes Nissan's president. Nissan reduced its full-year earnings forecast after its third-quarter profit missed analysts' estimates, and the company's debt rating was cut by S&P Global Ratings to A- from A.

Renault interim chairman Philippe Lagayette has denied reports of division among board members over Ghosn's future at the company.

The decision is a win for Ghosn's recently revamped legal team as they await his trial on charges of aggravated breach of trust and under-reporting his compensation at Nissan for almost a decade to the tune of $82 million.

There is also no plea deal mechanism that would allow Mr Ghosn to agree to lesser charges for a lighter sentence.

The Tokyo District Court is due to hand down its verdict on the latest bail application soon.

January 24: Renault board names a new CEO and chairman to replace Ghosn.

March 5: Bail is granted.

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