Nidec Corporation develops, manufactures, and sells motors, electronic and optical components, and related products in Japan and internationally. Its offerings include medium- and large-size motors, small precision motors, fans and blowers, motor-related products, units and modules, automotive components, mechanical equipment and machine tools, inspection and measuring equipment, electronic devices, and mold, molding, cutting, and machining components. These products serve applications in robotics, IoT, home appliances, automotive, logistics and agriculture, information technology, office automation, mobile optical components, medical and health care, housing equipment, commercial and professional products, industrial machinery, and processing and inspection equipment. The company was incorporated in 1973 and is headquartered in Kyoto, Japan.
¥1 trillion impairment and president's dismissal confirmed Nidec admitted it is considering a massive write-down of about ¥1 trillion and executive changes, including removing its president. A write-down that size would erase roughly a decade of profits, so investors sold the stock hard, with shares falling as much as 18%.
This is the first concrete confirmation of the scale of the financial damage and the leadership shake-up, directly driving the sell-off.
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President resigns; EV business impairment balloons President Kishida resigned immediately, and the EV-related impairment is now expected to far exceed the earlier ¥250 billion estimate. A sudden leadership exit and a much larger loss than guided add uncertainty and weigh on the shares.
The resignation and the ballooning EV loss are new events that increase uncertainty and confirm deeper problems than previously disclosed.
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FY2026 pretax loss of ¥496 billion; weak FY2027 guidance Nidec reported a ¥496 billion pretax loss for the year ended March 2026, far worse than analysts expected, and guided next year's profit 23% below consensus. The huge loss and weak outlook show the damage is not contained and future earnings will suffer.
The actual loss and disappointing guidance quantify the financial hit and signal a slow recovery, pushing the stock down.
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Auditor disclaimer and delisting risk hit year-to-date low PwC Japan refused to give an opinion on Nidec's financial statements for a second straight year, saying it lacked enough evidence. With the Tokyo Stock Exchange reviewing whether to delist the company, shares fell nearly 20% to a year-to-date low as investors fear the stock could be removed from the exchange.
The auditor's disclaimer and the imminent delisting review are the most severe regulatory threats, directly causing the stock's plunge to a new low.
Q3 2026
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Nidec hit by accounting crisis, delisting risk; robot demand offers brief lift
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Humanoid robot supply-chain optimism Nidec shares briefly rallied on hopes that demand from humanoid robot makers would boost sales, as Nidec supplies many robot companies. But the lift was speculative and faded with AI-related valuations.
This was the only positive force during the quarter, though temporary.
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Accounting and governance crisis Nidec delayed its annual securities report, missed its April–June earnings deadline, and disclosed 844 quality misconduct cases, including 60 serious ones. An external panel blamed weak controls and short-term target pressure.
This was the core negative event that dominated the quarter and damaged investor trust.
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Shareholder lawsuit and leadership turmoil A shareholder derivative suit seeks ¥28.7 billion from founder Shigenobu Nagamori and former directors. Later, Nidec confirmed the president’s resignation, adding to leadership uncertainty.
These events deepened the governance crisis and raised concerns about management stability.
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Massive impairment, loss, and delisting risk Nidec confirmed a possible ¥1 trillion impairment, a ¥496 billion pretax loss, weak FY2027 guidance, and a second auditor disclaimer from PwC Japan. Delisting risk intensified, and shares fell sharply.
These financial and regulatory blows directly caused the stock’s sharp decline and heightened delisting fears.
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Nidec Replaces Presidents of Four Subsidiaries with Outside Hires
Nidec announced on the 2nd that it is changing the presidents of four subsidiaries, including Nidec Techno Motor. All of the new presidents come from outside the company, with their appointments effective as of the 1st. At Nidec Techno Motor and Nidec Drive Technology, Takeshi Nishiyama, a senior managing executive officer from Sony, took the helm at age 57, while Yuji Tanaka, a senior executive officer at Nidec, assumed the post at age 61. At Nidec Powertrain Systems, Chairman Katsuhiro Wada, formerly of Omron, took over at age 63, and at Nidec Machine Tool, Senior Executive Officer Kenji Hamanaka, formerly of Mitsubishi Heavy Industries, took the position at age 55. Amid a string of misconduct cases, the group is also overhauling its personnel appointments to push forward with management reform.
Robotics & Physical AI › Robotics Components & Actuation Talent
Robotics & Physical AI › Servo Motors & Magnets Talent
Electrification & Mobility › EV Powertrain & Power Electronics Talent
6594.JP · Regulation · Neutral Nidec replaces presidents of four subsidiaries with outside hires amid a string of misconduct cases, part of a management-reform overhaul.
Nidec Powertrain Systems Corporation · Regulation · Neutral Nidec Powertrain Systems gets Chairman Katsuhiro Wada (ex-Omron) as its new president in the group's management reform.
Nidec Techno Motor Corporation · Regulation · Neutral Nidec Techno Motor gets a new outside president (Takeshi Nishiyama, ex-Sony) as part of the group's personnel overhaul.
R&I downgrades Nidec to 'A+' and places it on monitor for further downgrade
Rating and Investment Information (R&I) said on the 2nd that it has downgraded Nidec's issuer rating and long-term bond rating from 'AA-' to 'A+', and placed the ratings on its Rating Monitor with a direction toward a further downgrade. It said that the company's management turnaround is only halfway done, and that its auditing firm PwC Japan has once again issued a disclaimer of opinion, making it necessary to scrutinize the risk that the series of problems will further hurt its creditworthiness. Nidec said on September 30 that it recorded an impairment loss of 632.1 billion yen in its fiscal year ending March 2026 and fell into a net loss of 564.6 billion yen. It plans operating profit of 200 billion yen for the fiscal year ending March 2027, but on a fundamental basis this is far below the level of operating profit and profit margin outlook that R&I had assumed before the series of accounting problems came to light, and its earning power is deemed inferior even relative to an 'A+' rating.
6594.JP · Capital · Negative R&I downgraded Nidec to 'A+' and placed it on monitor for further downgrade after a 632.1bn yen impairment, net loss, and a repeated disclaimer of opinion from PwC Japan.
PwC Japan Audit LLC · Regulation · Neutral PwC Japan is cited only as having again issued a disclaimer of opinion on Nidec's accounts, a context mention rather than a development about PwC itself.
Nidec Q3 EPS Falls 80.5% to ¥8.48 as Operating Profit Drops 30.9%
Nidec reported third-quarter earnings per share of ¥8.48, down 80.5% year over year from ¥43.57. Revenue for the fiscal third quarter ended December 31, 2025 rose 4.8% year over year to ¥681.46B. Operating profit fell 30.9% year over year to ¥28.43B, and operating margin narrowed to 4.2% from 6.3%. The results were disclosed in a Nidec press release.
Nidec shares plunge on disclaimer of audit opinion, delisting fears mount
In Tokyo stock trading on the 1st, Nidec's share price fell sharply by 255 yen from the previous day to 2,100 yen. After the company announced its earnings the previous day, its auditing firm issued a disclaimer of opinion on its financial statements, prompting a flood of selling on fears of delisting. At one point the stock dropped 467 yen to 1,888 yen, hitting a year-to-date low, and the disclaimer of audit opinion marked the second consecutive fiscal period. This is because some of the executives and employees involved in the misconduct are still responsible for the company's financial reporting, and market participants said it "instilled in investors a sense of distrust toward the corporate governance system itself."
6594.JP · Regulation · Negative Auditor issued a disclaimer of opinion on Nidec's financial statements for a second consecutive period, raising delisting fears and governance distrust.
PwC Japan Issues Disclaimer of Opinion on Nidec Audit; 632.135 Billion Yen Impairment Drives 564.6 Billion Yen Net Loss
PwC Japan, the audit firm handling Nidec's audit, said on the 1st that it declined to express an audit opinion on the company's consolidated financial statements because it was unable to obtain sufficient and appropriate audit evidence and judged the impact to be pervasive. The firm indicated it intends to continue discussions with Nidec, saying it wants to fulfill its responsibility to ultimately issue an audit opinion, but did not specify a timeframe. The explanation was given alongside Nidec's press conference. Nidec announced on September 30 that it will record an impairment loss of 632.135 billion yen on non-financial assets in its operating profit and loss for the fiscal year ending March 2026, and as a result, its net loss for the period is expected to be 564.6 billion yen, a reversal from the previous year's 84.6 billion yen profit. PwC Japan issued a disclaimer of opinion on these financial results.
6594.JP · Capital · Negative Nidec will record a 632.135 billion yen impairment and expects a 564.6 billion yen net loss for FY ending March 2026.
6594.JP · Regulation · Negative PwC Japan issued a disclaimer of opinion on Nidec's consolidated financial statements due to insufficient audit evidence.
PwC Japan Audit LLC · · Neutral PwC Japan is the auditor that declined to express an opinion; the article reports its action but no clear directional impact on the firm itself.
Nidec President Vows to Resolve Outstanding Issues by October to Obtain Audit Opinion
Nidec President and Executive Officer Ryoichi Akita said at a press conference on the 1st that, regarding the audit firm's decision to issue a "disclaimer of opinion" on the company's securities report for the fiscal year ending March 2026, "we will resolve the remaining issues by October in order to obtain an audit opinion." He also stated that, in response to the massive impairment loss recorded in that fiscal year's earnings, "we will carry out structural reforms with no sacred cows."
6594.JP · Capital · Negative Massive impairment loss recorded in the fiscal year's earnings, prompting promised structural reforms.
6594.JP · Regulation · Negative Audit firm issued a disclaimer of opinion on Nidec's securities report, an unresolved regulatory/audit compliance issue the president vows to fix by October.
Nidec to sell electronic components subsidiary to Carlyle for 102.9 billion yen
Nidec announced on the 1st that it will sell its electronic components subsidiary Nidec Components, formerly Copal Electronics, to U.S. investment fund Carlyle Group for 102.9 billion yen. The transfer will take place on December 1. The company said it is currently examining the impact of the sale on its consolidated earnings and will promptly disclose any matters that should be made public going forward.
Semiconductors › Interconnect & Passive Components Capital
Semiconductors › Passive Components (MLCC, Capacitors, Inductors) Capital
6594.JP · Capital · Positive Nidec is selling its Nidec Components subsidiary to Carlyle for 102.9 billion yen, a divestiture/M&A event.
Nidec Components Corporation (formerly Copal Electronics) · Capital · Neutral Nidec Components is being sold to Carlyle Group for 102.9 billion yen, changing its ownership.
Nidec posts 496,214 million yen pretax loss for fiscal year ending March 2026, missing IFIS consensus
Nidec's pretax loss for the fiscal year ending March 2026, announced on September 30, came to 496,214 million yen, falling short of the latest IFIS consensus of 170,667 million yen. According to earnings forecasts released the same day, pretax profit for the fiscal year ending March 2027 is projected at 180,000 million yen, 23.2% below the IFIS consensus. The same forecasts also project interim pretax profit of 110,000 million yen.
Robotics & Physical AI › Servo Motors & Magnets ▼Capital
6594.JP · Capital · Negative Nidec reported a 496,214 million yen pretax loss for FY ending March 2026, missing IFIS consensus, and guided FY2027 pretax profit 23.2% below consensus.
Nidec to book ¥632.1 billion impairment for fiscal year ending March 2026, swinging to a ¥564.6 billion net loss
Nidec announced on the 30th that it will record an impairment loss of 632.135 billion yen on non-financial assets in its operating profit and loss for the fiscal year ending March 2026. As a result, the company's net profit for the period will fall into a loss of 564.6 billion yen. The impairment loss far exceeds its previous forecast of around 250 billion yen. In addition to accounting and quality misconduct coming to light, the company's electric vehicle-related business has been sluggish, and President Mitsuya Kishida resigned on the 29th. Last year, the company was found to have engaged in improper accounting, including inflating profits and postponing the recognition of expenses, and Shigenobu Nagamori resigned as representative director at the end of the year and as honorary chairman in February of this year. After that, quality problems came to light, and an investigative committee set up by the company determined in September that there were 844 instances of improper conduct, including changes to the design and manufacturing processes of components for home appliances and automobiles.
Electrification & Mobility › EV Powertrain & Power Electronics ▼Capital
6594.JP · Capital · Negative Nidec will book a ¥632.1 billion impairment and swing to a ¥564.6 billion net loss for FY ending March 2026, far exceeding its prior ~¥250 billion forecast.
Nidec in final talks to sell components unit to Carlyle for $636 mln
Nidec confirmed on Wednesday that it is in final-stage talks to sell its electronic parts subsidiary, Nidec Components, to U.S. private equity firm Carlyle Group, in a deal expected to be worth more than 100 billion yen, or $636 million. The sale would mark the first divestiture of a major subsidiary by Nidec, the world's largest maker of precision motors, and is largely aimed at accelerating a turnaround by streamlining operations. Nidec Components was founded in 1967 as Copal Electronics and became a wholly-owned subsidiary of Nidec in 2014. The company is reportedly facing an impairment charge of 1 trillion yen, or $6.3 billion, as it grapples with the fallout of a major governance scandal over the past year, and on Tuesday announced that President and CEO Mitsuya Kishida had resigned effective immediately. Nidec also confirmed it will release its long-delayed third-quarter and fiscal 2026 earnings on Wednesday, and its shares surged 6.5% on Wednesday, on track to snap two days of steep losses.
Robotics & Physical AI › Servo Motors & Magnets Capital
Robotics & Physical AI › Robotics Components & Actuation Capital
Electrification & Mobility › E-motors, Inverters & Drivetrain Capital
6594.JP · Capital · Positive Nidec confirmed the divestiture of Nidec Components to Carlyle, its first major subsidiary sale, aimed at streamlining operations and accelerating a turnaround.
CG · Capital · Positive Carlyle is the buyer in the $636 mln acquisition of Nidec Components, expanding its portfolio.
Nidec Components Corporation (formerly Copal Electronics) · Capital · Neutral Nidec Components is the unit being sold to Carlyle, but the article gives no clear positive or negative read on the subsidiary itself.
Nidec Weighs Executive Changes Including President Kishida, Impairment of Hundreds of Billions of Yen Over Accounting Fraud
Nidec, a major motor manufacturer, said on the 28th that it is considering changes to its executives, including President Mitsuya Kishida, in the wake of accounting and quality misconduct. The company is also considering large-scale impairment charges in its fiscal 2026 results for the year ending March, to be announced at the end of September, and the amount is expected to reach at least several hundred billion yen. The accounting fraud came to light in September 2025, and a final report by a third-party committee published in April 2026 concluded that the impact of inflated net profit from the misconduct totaled 160.7 billion yen cumulatively through the April-to-June quarter of 2025. The company had indicated it would record an impairment loss of around 250 billion yen, mainly in its automotive components business, in connection with the revision of past financial statements, but the figure now looks set to grow even larger.
6594.JP · Capital · Negative Nidec is considering large-scale impairment charges of at least several hundred billion yen in fiscal 2026 tied to accounting fraud, alongside possible executive changes.
Nidec Shares Plunge 18% on Reported ¥1T Impairment and CEO Dismissal
Nidec shares plummeted as much as 18% to ¥2,405.0 on Monday after Bloomberg and other major outlets reported on a release by Japanese business publication Diamond Online stating the company is considering a ¥1T ($6.3B) impairment charge that could effectively wipe out its net profits from the past decade. According to the report, the massive write-down would be recorded for the fiscal year ended March 2026 as the world's largest maker of precision motors tallies the financial fallout from a long-running accounting and governance crisis. The report also noted that Nidec has decided to dismiss President and CEO Mitsuya Kishida, with an official announcement scheduled for September 29. Nidec issued a statement acknowledging that reports regarding executive changes and the ¥1T impairment consideration were factually grounded, confirming that management restructuring and large-scale asset write-downs are under review, though no finalized decisions have been formally disclosed. A ¥1T hit would mark the largest write-down in Nidec's history, following internal and independent probes that uncovered more than 1,000 instances of accounting improprieties alongside 844 cases of quality-control misconduct over the last decade. The company has already been dropped from the Nikkei 225 Index and now faces heightened delisting risks as regulators dig deeper.
Hong Kong-based investment fund Oasis Management has raised its shareholding ratio in Nidec to 7.97%, according to a change report filed on the 16th. Its previous stake was 6.78%, and the date on which the reporting obligation arose was September 9. Oasis said its purpose for holding the shares is to gain profit from share price fluctuations and dividends, and in addition to proposals it has already made regarding the appointment and composition of directors, delisting, and changes to capital policy, it plans to make proposals within the next 12 months concerning the disposal or acquisition of important assets, the transfer of businesses, and the selection and dismissal of representative directors. If it judges the share price to be undervalued, it plans to increase its stake by more than another 5% within the next three months, with the specific acquisition price, quantity, and timing currently under consideration, and filings with or approvals from regulatory authorities may be required in some cases.
6594.JP · Capital · Neutral Activist Oasis raised its Nidec stake to 7.97% and plans proposals on directors, delisting, capital policy and asset/business disposals, signaling potential value-unlocking pressure but with unclear outcome.
Oasis Management · Capital · Neutral Oasis increased its Nidec holding to 7.97% to profit from share price moves and dividends, with plans to push further governance and capital-policy proposals.
Nidec to Hold Extraordinary Shareholders Meeting Within the Year Amid Accounting and Quality Fraud
Nidec said on the 15th that it is considering holding an extraordinary shareholders meeting within the year. In response to accounting and quality fraud issues, the company will report and seek approval for its fiscal 2025 business and consolidated financial statements and audit reports, which were not put to a vote at this June's ordinary general meeting. At the board meeting held the same day, it was resolved to set September 30 as the record date necessary for convening the extraordinary shareholders meeting. Shareholders listed in the shareholder registry as of that date will be entitled to exercise voting rights, and the meeting will be held within three months. The detailed schedule and venue will be announced at a later date.
6594.JP · Regulation · Negative Nidec faces accounting and quality fraud issues, forcing an extraordinary shareholders meeting to seek approval of fiscal 2025 statements and audit reports not voted on at the June ordinary meeting.
Nidec faces 28.7 billion yen damages claim from individual shareholder suing founder Nagamori and another former director
Nidec, the major motor manufacturer, announced on the 10th that an individual shareholder has filed a shareholder derivative lawsuit seeking approximately 28.7 billion yen in damages from founder Shigenobu Nagamori and one other former director, two people in total. The defendants are Nagamori and Hiroshi Obu, both former directors of the company. The suit was filed with the Kyoto District Court, and the plaintiff alleges that Nagamori and the others carried out illegal share buybacks and dividends exceeding the distributable amount under the Companies Act. This is the first shareholder derivative lawsuit against Nidec to come to light since the accounting irregularities were discovered.
6594.JP · Regulation · Negative Individual shareholder filed a derivative lawsuit seeking 28.7 billion yen in damages from founder Nagamori and another former director over alleged illegal buybacks and dividends.
Nidec Identifies 844 Quality Misconduct Cases, Launches Fundamental Reform
Nidec announced on the 4th the release of a report from the investigation committee established to look into suspected inappropriate practices regarding product quality, confirming a total of 844 cases of quality misconduct across multiple business divisions within the group, including 60 cases of significant quality issues. The committee pointed out that excessive performance pressure and insufficient quality governance combined to entrench an "unhealthy state" within the organization. Nidec stated it will proceed with measures to prevent recurrence, such as personnel disciplinary actions and revisions to quality regulations, and aims to correct past annual securities reports and submit the report for the fiscal year ending March 2026 at an early date. The committee chairman, Toshihiko Itami, noted that it is extremely serious that misconduct of this scale has come to light in the quality assurance area, following the accounting irregularities. While it was pointed out that founder Shigenobu Nagamori and other management had exerted intense pressure to achieve performance targets, no instructions or involvement in quality misconduct were confirmed. Nidec has been designated as a special attention stock by the Tokyo Stock Exchange due to the accounting irregularities, and faces delisting if internal management systems are not improved within one year.
Nidec Discloses Investigation Report on Quality Misconduct
Nidec Corporation has disclosed the full investigation report from its outside-expert committee, which found widespread quality-related misconduct including falsified test results and violations of manufacturing rules. The company acknowledged that excessive pressure to meet short-term targets and cost reductions, combined with an inefficient management system, allowed these issues to persist. Nidec stated that the misconduct has no material impact on past financial statements and plans to correct past securities reports. It will implement reforms such as granting quality assurance managers authority to suspend shipments and launching quality audits. Disciplinary actions will follow based on the committee's findings.
6594.JP · Regulation · Negative Quality misconduct investigation reveals falsified test results and manufacturing violations, leading to reforms and disciplinary actions.
Asia-Pacific 48V Systems Market to Reach $29.94 Billion by 2035
The Asia-Pacific automotive 48V systems market is projected to grow from $6.68 billion in 2025 to $29.94 billion by 2035, at a 16.17% CAGR, according to a new report from ResearchAndMarkets.com. Stricter emissions standards, government incentives, and demand for affordable electrification are accelerating 48V mild-hybrid adoption across China, India, Japan, South Korea, and Southeast Asia. These systems deliver 10–15% fuel-efficiency gains and serve as a bridge between conventional engines and full EVs. The report profiles key players including Hitachi, Nidec, and Mitsubishi Electric, and highlights challenges such as high implementation costs, complex system integration, and battery supply chain vulnerabilities.
Nidec misses Tokyo Stock Exchange deadline for April–June quarter earnings disclosure
Nidec announced on the 5th that it will miss the Tokyo Stock Exchange deadline for disclosing its April–June 2026 quarter earnings. The delay is due to the time required for investigations into accounting irregularities and quality misconduct. Companies listed on the TSE are required to disclose their results within 45 days after the end of the fiscal quarter. The company has also not yet disclosed its fiscal year ended March 2026 results, but plans to submit its annual securities report for that period by September 30. It will disclose the April–June 2026 quarter earnings as soon as work is completed after submitting the securities report.
Nidec says ransomware attack on Taiwanese subsidiary may have caused data leak
Nidec Corporation reported that a ransomware attack on its Taiwanese subsidiary Nidec Chaun Choung Technology may have resulted in a data leak, despite no explicit evidence of exfiltration. A forensic investigation by an external agency found no logs confirming data theft, but a third party published part of a list of folder and file names on the dark web. The company said it cannot deny possible leakage of the listed data and other information, though no actual files have been confirmed as published. The attack has had no material impact on production, shipping, or other business activities, and only a minute impact is expected on Nidec's consolidated performance.
SALEE profits surge on semiconductor orders, projected to grow 78% this year
An analysis from Yuanta Securities Thailand indicates that SALEE's performance has accelerated to 14 to 15 million baht per quarter starting from the fourth quarter of 2025, after receiving orders to produce chip trays for a new semiconductor group investing in Thailand. This has boosted capacity utilization and lifted the net profit margin to 5 percent from the previous 2 to 3 percent. With ample remaining capacity, the company can take on production orders without additional investment. Analysts expect SALEE's profit to grow year-on-year in every quarter this year, and if profit for the rest of the year matches the first quarter of 2026, full-year profit would reach 60 million baht, up 78 percent from the previous year, equivalent to earnings per share of 0.04 baht and a dividend yield of 4 to 5 percent per annum. This estimate is based on only 50 percent capacity utilization and is further supported by government consumption stimulus measures that will help the plastics and label business grow in the second half of 2026. In addition, a key customer like Nidec, which is producing components for humanoid robots and continuously expanding investment in Thailand, will be a long-term positive factor for SALEE, as the components produced are special heat-resistant plastics manufactured in cleanrooms, with few direct competitors in Thailand. Technically, the stock price is holding above all moving average levels, with support at 0.60 baht and resistance at 0.68 baht. If it breaks through, there is a chance to test 0.80 baht.
Humanoid robot component stocks surge on supply-chain optimism
Component makers tied to the humanoid robotics supply chain rallied sharply on Tuesday as investors sought out specialist suppliers. Sensor makers Ouster, Cognex, and Allegro Microsystems closed up 15.6%, 5.9%, and 4.9% respectively, while edge AI vision processor maker Ambarella surged 28%. Motor makers like Nidec, RBC Bearings, Regal Beloit, and Ametek closed between 1% and 8% higher, with Regal Beloit gaining 8.3% after Kerrisdale Capital disclosed a long position citing the physical AI angle. AI brain maker NVIDIA gained 2.6%, battery maker Enersys rose 4.3%, and power electronics names such as Wolfspeed surged 9%. The moves highlight that component suppliers sell into multiple robot OEMs simultaneously, meaning any broad acceleration in humanoid build rates lifts the entire component tier. However, Reuters reported on June 29 that doubts are creeping into the broader AI trade, with a Bank for International Settlements warning that AI and automation asset valuations may be overextended, a caution directly relevant to high-multiple humanoid component names.
Nidec applies to extend annual securities report filing deadline to September 30
Nidec Corporation has filed an application with the Kanto Local Finance Bureau to extend the filing deadline for its annual securities report for the 53rd fiscal year ended March 31, 2026, from June 30 to September 30, 2026. The company cites ongoing investigations by a third-party committee and an external expert committee into prior financial statements, potential product quality issues, and unpaid customs duties at a consolidated subsidiary. These probes are expected to require considerable time, making it difficult to complete closing procedures and receive the audit report by the original deadline. If the extension is approved, Nidec will promptly disclose the decision.
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