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TYO:6594

12 stories mentioning TYO:6594Updated 9d ago

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Asia

Market Chatter: Nidec to Close Cambodia Motor Parts Operation

Nidec (TYO:6594) will close its small motor-parts manufacturing subsidiary Niece Die-casting Cambodia on Oct. 22 amid the country's border conflict with Thailand, Nikkei Asia reported Sunday.The electric motor manufacturer was laying out alternative production at a Thai site, the report cited a statement as saying.The company did not expect a notable impact on earnings from the closure, the report said.Nidec did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:6594
Asia

Nidec Receives Notification of Derivative Action Filed Against Former Board Members

Nidec (TYO:6594) said it received the notification of a derivative action filed by an individual shareholder against former board members Shigenobu Nagamori and Hiroshi Kobe with the Kyoto District Court on Wednesday, according to a Friday filing with the Tokyo Stock Exchange.The Tokyo-listed company said that the shareholder claims that its treasury-share acquisitions in September 2022 and February-March 2023, as well as the interim dividend in December 2022, were illegal because they exceeded amounts distributable under the Accounting Rules.The individual shareholder is seeking 28.73 billion yen plus delinquent charges from the defendants and others for payment to the company under Article 462 of the Companies Act.

TYO:6594
Asia

Nidec Says Investigation Report Details Misconduct Behind 'Unhealthy State'

Nidec (TYO:6594) received the investigation committee report identifying a series of quality-related issues, including violations of change rules, within the company, according to a Friday filing with the Tokyo Stock Exchange.The company said that the report outlines falsification of testing and inspection results and the use and shipment of substandard or unauthorized products, causing an "unhealthy state" within the company.Based on the report, the company plans to strengthen its quality assurance system by giving quality managers authority to suspend product shipments and conduct continuous quality audits.

TYO:6594
Asia

Multiple Nidec Shareholders Seek Legal Action Over Alleged Improper Accounting

Multiple shareholders of Nidec (TYO:6594) sought legal action against current and former directors over alleged instances of improper accounting and other matters, according to a Tokyo Stock Exchange filing on Friday.The company established an Executive Responsibility Investigation Committee that is examining whether current and former directors, auditors, and executive officers bear legal liability, including potential breaches of duty related to improper accounting, the filing said.Nidec will decide whether to pursue damages or other legal remedies and disclose its decision after reviewing the committee's report, it said.

TYO:6594
Asia

Nidec Finds No Data Leak in Taiwan Ransomware Probe

Nidec (TYO:6594) said that investigations into a ransomware attack at its Taiwanese subsidiary, Nidec Chaun Choung Technology Corporation, found no clear evidence of a data leak, according to a Tokyo Stock Exchange filing on Tuesday.The company said that the external specialist found no explicit evidence, such as logs, showing data had been leaked; however, it was confirmed that a part of the list of folder and file names was published on a dark website.The company said that no data on the folder and file list had been confirmed as published on the dark web, and the attack had no material impact on the company's operations.

TYO:6594
Asia

Shareholder Demands Nidec to Sue Former Directors Over Excess Distribution

Nidec (TYO:6594) has received a written request from an individual shareholder on July 16, demanding that the company file a legal action against several former directors, according to a Tokyo Stock Exchange filing on Tuesday.The demand stems from allegations that the company's interim dividends and share repurchases for the previous fiscal year exceeded legally distributable amounts.The demand references earlier disclosures from June 2023 regarding the excess distributions and an external investigation committee's findings.In March, Nidec established an Executive Responsibility Investigation Committee to investigate accounting-related misconduct involving former and current directors, auditors, and vice presidents.The company plans to review the committee's forthcoming report and recommendations before deciding whether to pursue compensation claims or other legal measures.

TYO:6594
Asia

Nidec's Taiwanese Subsidiary Hit by Ransomware Attack, Investigation Underway

Nidec (TYO:6594) Taiwanese subsidiary, Nidec Chaun Choung Technology, was compromised by a ransomware attack on June 22, prompting emergency measures, including server and network shutdowns, to contain the damage.The company is working with external specialists and authorities to investigate the cause and extent of the breach, though no personal or confidential information has been confirmed leaked so far, according to a Tokyo bourse filing on Wednesday.The affected subsidiary operates an independent network, so the incident does not impact Nidec or other group companies.

TYO:6594
Asia

Market Chatter: Nidec CEO Says Data Center Business Lifts Performance Despite Quality, Accounting Woes

Nidec (TYO:6594) is getting a strong lift from its data-center business, particularly emergency power products, despite grappling with quality and accounting issues, Bloomberg News reported Friday, citing CEO Mitsuya Kishida.The Kyoto-based company is running at full capacity to meet demand and is pushing forward with factory construction in the U.S., China, and India, the news wire said.Nidec shares took a hit earlier this month after it revealed unauthorized changes to product materials and designs, though most losses have since been recovered, the publication said.Despite challenges like accounting irregularities and the founder's departure, Kishida said the investigation is on track, no immediate safety or functionality risks have been found, and restoring trust remains the top priority, the report said.The company faces heightened pressure as its stock has been removed from key indexes, and the Tokyo Stock Exchange has warned of possible delisting if internal management does not improve, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:6594
Asia

Nidec Identifies Suspected Quality Improprieties in Internal Inspection

Nidec (TYO:6594) said a company-wide quality inspection identified suspected improper conduct involving changes to materials, processes and designs without customer approval, according to a Thursday filing on the Tokyo Stock Exchange.The company said the inspection was being conducted as part of efforts by its Reform Committee, which was established on Oct. 30, 2025, to strengthen internal management systems. Nidec said no issues have been identified at this stage that would immediately affect product functionality or safety.The company said it was considering setting up an investigation committee comprising external experts, although no decision had been made. The statement came after Nikkei reported on quality-related matters at the company.Nidec said it had started contacting customers to provide explanations and consultations, and planned to formally decide on and disclose its response to the suspected improper conduct and related matters later Wednesday.

TYO:6594
Asia

Nidec Confirms Suspected Process Changes Without Customer Approval

Nidec (TYO:6594) said a recent media report on quality issues was not based on an official disclosure, while confirming that internal reviews have identified suspected procedural irregularities in parts of its operations, according to a Wednesday filing on the Tokyo Stock Exchange.The company said a comprehensive quality inspection, conducted under a reform committee set up in late October 2025, has found instances where materials, manufacturing processes and designs may have been changed without customer approval.Nidec said no issues have been identified that would immediately affect product performance or safety. It also said discussions are ongoing on forming an external investigation panel, though no final decision has been made.The company has begun engaging with customers to provide explanations and support consultations as it assesses the scope of the findings.

TYO:6594
Asia

Nidec Flags 250 Billion Yen Hit as Accounting Probe Widens

Nidec (TYO:6594) said it received a final report from an independent panel probing improper accounting and will revise governance and internal controls, according to a Friday filing on the Tokyo Stock Exchange.The probe found widespread irregularities, including delayed loss recognition, improper cost capitalization and inaccurate revenue recognition. The cumulative impact on operating profit through the first quarter of fiscal 2025 was a loss of 166.4 billion yen, while net sales fell 33.1 billion yen and net profit declined 160.7 billion yen.Nidec said potential impairment losses on goodwill and fixed assets could reach about 250 billion yen, mainly in its automotive business.Internal reviews also found possible errors in U.S. import declarations, with additional customs duties estimated at about $69.7 million, including interest, for April 2021 to September 2025.The committee said excessive performance pressure under founder Shigenobu Nagamori drove the misconduct and said he bears the greatest responsibility.

TYO:6594
Research

Citi Downgrades Nidec to Neutral from Buy, Adjusts Price Target to 2,500 Yen from 3,700 Yen

Nidec (TYO:6594) has an average rating of hold and mean price target of 2,461.67 yen, according to analysts polled by FactSet.

TYO:6594

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