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."
Nidec CorporationAuditor issued a disclaimer of opinion on Nidec's financial statements for a second consecutive period, raising delisting fears and governance distrust.
