A Japanese court has granted bail to ousted Nissan chairman Carlos Ghosn more than three months after his arrest for alleged financial crimes.

He was released on bail on condition he submit to video monitoring and stay in Japan. 

Prosecutors appealed against the decision and demanded the architect of the Renault-Nissan partnership, and until his arrest in November one of the global auto industry's most feted executives, remain in jail pending his trial. 

Judges at the Tokyo District Court earlier accepted defence lawyers' assurances that Ghosn would submit to extensive surveillance and set his bail at 1 billion yen ($8.9m), a win for his new legal team on his third bail request. 

Ghosn's release would allow him to meet more frequently with his lawyers and build his defence ahead of his trial in the coming months.

He faces charges of aggravated breach of trust and under-reporting his compensation at Nissan for nearly a decade to the tune of $82m. 

If convicted on all the charges he faces up to 10 years in jail. 

The ex-chairman of Nissan, Mitsubishi Motors and France's Renault has denied wrongdoing. 

While Ghosn's bail amount is among the highest on record in Japan, it is half the 2 billion yen paid in 2005 by Mitsuru Asada, a businessman who was later convicted of defrauding the government through a beef buy-back programme.