• Kyodo

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Nissan Motor Co. has been ordered to pay some ¥250 million ($2.4 million) in tax penalties in connection with alleged misuse of funds by the Japanese automaker while managed by former boss Carlos Ghosn, sources familiar with the matter said Wednesday.

Taxation authorities in Japan have concluded that Nissan failed to declare around ¥1 billion in taxable income over five business years through March 2019, with the company given around ¥250 million in tax penalties, sources said.

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