Chairman Carlos Ghosn is now suspected of underreporting his executive remunerations by several billion yen during a three-year period from fiscal 2015, on top of allegations of similar concealment of part of his salaries in preceding years that led to his arrest, according to people familiar with the matter.
Meanwhile, Nissan's corporate auditors have suspected that the company bought residences for Ghosn through its overseas subsidiary that is not actually operating, those sources said.
Tokyo prosecutors arrested Ghosn for allegedly under-reporting his salary by around ¥5 billion ($44 million) for five years through fiscal 2014 while receiving almost ¥10 billion during that period.
The individual shareholder wants to obtain reparations for the fall of the title of the manufacturer caused by the announcement Monday of the arrest of the CEO of the alliance Renault-Nissan-Mitsubishi, has explained to Me Frederik-Kanel Canoy, who is said to represent a "dozen" other shareholders wishing to lodge a complaint in their turn.
Nissan said its board will study setting up a third-party committee to beef up governance in management and compensation at Nissan.
Nissan's board directors ousted him in response.
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Carlos Ghosn has held senior positions at Renault since the end of 1996.
In addition to these allegations, Ghosn has been found to have use of expensive housing in six countries apparently at Nissan's expense.
Japanese prosecutors have also accused Kelly of having a role in the offences. His detention has stunned most Japanese who now consider him "a bad gaijin (foreigner)", one Japanese media executive told The National last week. Nissan, which is much bigger and sells more vehicles than Renault, holds only a 15% non-voting stake in the French company. Nissan did not immediately name an interim chairman.
Mr Ghosn, a Brazilian-French citizen of Lebanese descent, was detained after turning himself in to prosecutors upon arriving at Japan's Haneda airport on Monday night.
"If the entire alliance blows up badly. that would be the worst strategic mistake made by an automaker in decades", said Travis Lundy, an analyst at investment research network Smartkarma.