On October 30, Nidec Corporation announced that it had submitted a Written Confirmation of Internal Management System to the Tokyo Stock Exchange (TSE) and disclosed the implementation status of improvement measures addressing accounting misconduct and other issues. The submission follows the first anniversary of its
Nidec Corporation provided an update on October 28 on its efforts to resolve the disclaimer of opinion issued by its independent auditor. The company had aimed to submit restated reports, including its annual securities report for the fiscal year ended March 31, 2026, accompanied by audit reports expressing an opinio
Nidec Corporation announced on October 27 that it had decided to file a lawsuit for damages against nine former executives, including founder Shigenobu Nagamori, over accounting misconduct. The decision follows an investigation report received from the Executive Responsibility Investigation Committee on October 16. T
On October 20, Nidec Corporation released a report by its Executive Responsibility Investigation Committee on accounting misconduct. The committee concluded that nine former directors, auditors and executives, including founder Shigenobu Nagamori, were liable for damages to the company. In the automotive business, it
On October 1, Nidec Corporation held a press conference at its headquarters in Kyoto to discuss its new management team and financial results for the fiscal year ended March 31, 2026. Michio Kaida, who became President Chief Executive Officer on September 29, outlined plans to streamline the company's automotive and
On October 1, Nidec Corporation announced that its Board of Directors had approved the sale of all shares in its wholly owned subsidiary, Nidec Components Corporation, to TCG2603 Co., Ltd., a company indirectly owned by an investment fund associated with The Carlyle Group. The transfer price is JPY 102.98 billion. Th
Nidec Corporation announced its consolidated earnings forecast for the fiscal year ending March 31, 2027, on September 30. The company expects revenue to increase 3.4% year-on-year to JPY 2,800 billion, with operating profit of JPY 200 billion, profit before tax of JPY 180 billion, and net profit attributable to owne
Nidec Corporation disclosed in its annual securities report filed on September 30 that it recorded a consolidated operating loss of JPY 518.978 billion and a net loss attributable to owners of the parent of JPY 564.624 billion for the fiscal year ended March 31, 2026, compared with a restated net profit of JPY 84.672
Nidec Corporation acknowledged on September 30 that it is considering the sale of its wholly owned subsidiary Nidec Components Corporation. The company said that no decision has been made at this stage and that it will promptly disclose any matters requiring disclosure.
According to multiple media reports, Nidec is i
Nidec announced on September 29 that Mitsuya Kishida had resigned as Representative Director and President Chief Executive Officer, effective the same day. The company appointed Michio Kaida, formerly First Senior Vice President and Chief Technology Officer (CTO), as President Chief Executive Officer. Kaida will cont
Nidec Corporation announced on September 4 that it had disclosed an Investigation Committee report concerning quality assurance issues and other misconduct. The investigation identified 844 Quality Assurance Issues across the Nidec Group, comprising 60 Significant Quality Assurance Cases and 784 Non-Significant Quali
On May 13, Nidec announced that there are potential issues in connection with the manufacturing of certain products by the company and its group companies, including changes to materials, processes and designs without customer check.
So far, more than 1,000 potential inappropriate conducts have been identified. While
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