Japan $19 Billion Electric Motor Manufacturer Nidec Corporation to Investigate Management Involvement in Improper Accounting at China Unit (Nidec Techno Motor), Current Market Value at $19.6 Billion, Share Price -9.7% YTD, -11.5% Last 12 Months & -47.4% Last 5 Years
7th September | Hong Kong
Japan electric motor manufacturer Nidec Corporation ($19 billion market value) has announced to investigate management involvement in improper accounting at China unit (Nidec Techno Motor). Nidec Corporation current market value at $19.6 billion, with share price -9.7% YTD, -11.5% last 12 months & -47.4% last 5 years. Announcement (3/9/25): “As announced in the “Notice concerning board of directors’ resolution of application for approval of deadline extension for submission of securities report for 52nd fiscal year” dated June 26, 2025, the Company had decided to submit an application to the Kanto Local Finance Bureau for approval of a deadline extension regarding submission of the securities report for the 52nd fiscal year (ended March 31, 2025) for the purpose of further internal investigations and considerations regarding trade transactions and customs issues of NIDEC FIR INTERNATIONAL S.R.L. (“FIR”). On June 27, 2025, the Company received approval to extend the deadline to September 26, 2025. Aside from the Company’s current diligent investigations into the trade transactions and customs issues, its Audit and Supervisory Committee was notified on July 22, 2025 by Nidec Techno Motor Corporation (“Techno”), a subsidiary of the Company, of suspected improper accounting in late September 2024 by Nidec Techno Motor (Zhejiang) Co., Ltd., the Company’s Chinese subsidiary, in connection with a lump-sum payment (worth 10 million yuan, or approximately 200 million yen) representing a discount for a purchase from a supplier (the “Techno Issue”). In response to this, the Company engaged outside attorneys, certified public accountants, and other external experts to conduct internal investigations, including digital forensic procedures, in order to clarify the Techno Issue under the supervision of the Company’s Audit and Supervisory Committee. The investigations found multiple documents suggesting that, in addition to Techno, the Company and its group companies could have engaged in improper accounting with the involvement or knowledge of its or their management—namely, for example, that those companies could be construed to have arbitrarily considered when to write down certain assets with risk in terms of their asset value. Given the above, the Company recognized limitations in the previous investigation system engaging external experts and led by members of the Audit and Supervisory Committee, as well as the need for objective investigations by a third-party committee independent of the Company. Accordingly, the Company decided today to establish a third-party committee in compliance with the “Guidelines for Third-Party Committees in Cases of Corporate Misconduct” established by the Japan Federation of Bar Associations.” Nidec Corporation – Today, NIDEC CORPORATION is closely associated with approximately 300 group companies all over the world. NIDEC is the world’s No.1 comprehensive motor manufacturer handling “everything that spins and moves”, miniature to gigantic. Aspiring to achieve still higher growth, each group company is enhancing its technical capabilities and competitive edge, while Nidec is positively striving in the area of M&A for companies that have highly-reputed engineering capabilities in motor-related fields. NIDEC has grown into a market-leading global company in the short span of 40 years due to the fact that it has never stopped striving to become the “world’s No.1.” We have devoted ourselves to reaching the “world’s No.1” position while following our three principles of behavior.
“ Japan $19 Billion Electric Motor Manufacturer Nidec Corporation to Investigate Management Involvement in Improper Accounting at China Unit (Nidec Techno Motor), Current Market Value at $19.6 Billion, Share Price -9.7% YTD, -11.5% Last 12 Months & -47.4% Last 5 Years “
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Japan $19 Billion Electric Motor Manufacturer Nidec Corporation to Investigate Management Involvement in Improper Accounting at China Unit (Nidec Techno Motor), Current Market Value at $19.6 Billion, Share Price -9.7% YTD, -11.5% Last 12 Months & -47.4% Last 5 Years
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