Former Nissan chairman Carlos Ghosn is due to be indicted on Monday, according to reports.
The car industry veteran responsible for the Nissan-Renault alliance faces indictment on charges of financial misconduct after the weekend, according to the Nikkei Asian Review.
Tokyo prosecutors must release Ghosn on Monday if they do not charge him, or rearrest him on new claims of wrongdoing.
Citing anonymous sources, Nikkei said Nissan's former representative director, Greg Kelly, will also be charged then.
Ghosn, who is still chairman and chief executive of Renault despite pressure from the French government to dismiss him, is well-known for changing the fading fortunes of the car manufacturers he worked at.
The industry heavyweight has been in custody for more than two weeks for allegedly underreporting his salary, while investigators have also probed the purchase of luxury homes for Ghosn’s own personal use.
Nikkei reported that both Ghosn and Kelly would be charged for allegedly underreporting salaries in five annual reports up to the fiscal year ending in March 2015, as well as facing rearrests over suspected misstatements in financial reports over the next three years.
Through his lawyer Ghosn has denied passing personal trading losses of £11.7m onto Nissan in 2008.
He has not yet commented in response to the other claims, but Japanese media have reported that Ghosn has denied the allegations.
Prosecutors also want to charge Nissan for failing to prevent this alleged activity, Nikkei said.
Nissan reportedly failed to nominate a new chairman to replace Ghosn at a board meeting earlier this week.