Japanese prosecutors have charged former Nissan chairman Carlos Ghosn with financial misconduct, Japanese media report.

Prosecutors said Mr Ghosn underreported his compensation in the company’s financial statements over a five year period.

He was arrested in November after the allegations first surfaced.

Mr Ghosn, who headed a Renault-Nissan-Mitsubishi alliance, has previously denied the accusations.

Media reports also said prosecutors had charged Nissan in relation to the case.

Monday was the last day Mr Ghosn could be held by authorities before he either had to be charged or released. Mr Ghosn has been re-arrested on separate charges, Japanese broadcaster NHK said.

Brazil-born Mr Ghosn, aged 64, was the architect of the Renault-Nissan alliance, and brought Mitsubishi on board in 2016. He has in the past been hailed a hero in Japan for turning around the ailing Nissan.

Nissan  and and Mitsubishi both sacked Mr Ghosn as chairman after the arrest last month.

Renault said at the time Mr Ghosn would remain as its chairman and chief executive, but has appointed a temporary deputy chief executive  to take over the running of the firm.

Despite selling fewer vehicles, Renault has a 43% shareholding in Nissan, while Nissan’s stake in Renault is only 15%.

Nissan holds a 34% stake in Mitsubishi, but has effective control of the company.