Nidec

Shares in Japanese motor maker Nidec fell as much as 20% in Tokyo trading after its auditor declined to give an opinion on the company's long-awaited financial statements. The move has rattled investors, as a refusal to opine typically signals serious concerns about a company's accounting or disclosure, leaving questions over the reliability of Nidec's reporting unresolved.

Nidec stock fell sharply after its auditor issued a disclaimer of opinion, leaving investors uncertain about the company's financial outlook. Japanese market watchers say the accounting audit result clouds the outlook for the major motor maker, prompting heavy selling and putting the company's disclosure and governance practices under scrutiny.