Ghosn set for release

DETAINED former Nissan chairman Carlos Ghosn paid 500 million yen ($4.5 million) in bail, the Tokyo District court said, signaling he would likely soon be released.

Ghosn was arrested in November, released on bail in March but re-arrested in April on new allegations and taken to the Tokyo Detention House.

He has been charged with under-reporting his post-retirement compensation and breach of trust in diverting Nissan money and allegedly having it shoulder his personal investment losses.

Ghosn, 65, says he is innocent.

Nissan lowered its profit forecasts for the fiscal year through March for the second time on Wednesday, acknowledging the downward revision reflected the fallout from the Ghosn scandal, as well as slowing markets and rising costs.