Japan’s Nidec likely to miss month-end deadline on audit, Nikkei says
FILE PHOTO: NIDEC CORPORATION’s logo at its office in Tokyo, Japan, September 9, 2026. REUTERS/Manami Yamada/File Photo
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TOKYO, Oct 28 : Japan’s Nidec is unlikely to secure an auditor’s opinion on its securities report by month-end after an auditor flagged that the audit could be delayed, the Nikkei business daily said on Wednesday.
The step comes after Nidec said on Tuesday it had decided to sue founder Shigenobu Nagamori along with eight former executives for damages over suspected accounting irregularities that have put its stock market listing at risk.
The maker of electric motors will submit internal control documents to the Tokyo Stock Exchange by the deadline without the opinion from the auditor PwC Japan, seeking early review on listing maintenance, the Nikkei said, without citing sources.
A spokesperson for the Kyoto-based firm said it was not able to comment as the Nikkei report was not based on a company announcement. PwC Japan did not immediately respond to a request for comment.
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Nidec’s shares rose 1 per cent in afternoon trade, rebounding from a brief tumble of as much as 7.7 per cent following the report, versus Tokyo’s benchmark index, which was flat.
The Tokyo Stock Exchange put Nidec on “special alert” in October 2025 and gave it a year to improve its internal controls or risk delisting.
The exchange action followed Nidec’s disclosures of concerns about inappropriate accounting practices at some group companies.
A report this month by a Nidec-appointed committee of outside lawyers accused Nagamori of breaching his supervisory duties by failing to report the suspected irregularities to the board and auditors, and to seek the necessary investigations.
Source: Reuters
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