Tokyo, Nov. 26 -- The board of Japanese automaker Mitsubishi Motors, which is allied with Renault and Nissan, met Monday to decide whether to keep or oust Carlos Ghosn as its chairman after his arrest last week.

Prosecutors arrested Ghosn on Nov. 19 on suspicion of under-reporting his income by $44 million over five years. Nissan Motor Co., which already has ousted him as its chairman, says an internal investigation found Ghosn abused company money and assets.

Seven of Mitsubishi Motors Corp.'s eight-member board were meeting in Tokyo, the company said.

Ghosn's arrest in Tokyo marked a stunning fall for an executive who dominated the Japanese auto industry for two decades and spearheaded Nissan's alliance with Renault SA of France.