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Nidec
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- 1
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.
- 2Nidec shares plunge 20% after auditor withholds opinion▼Nidec shares have plummeted as much as 20% in Tokyo after the Japanese motor maker's auditor declined to give an opinion
Shares of Japanese motor maker Nidec fell as much as 20% in Tokyo trading after the company's auditor declined to give an opinion on its long-awaited financial statements. The move leaves investors without a standard assurance on the accounts, deepening concern over the company's financial reporting and triggering a sharp sell-off in the stock.
- 3Nidec pledges asset sales to restore investor trust●Seeking to restore investor trust after an accounting scandal, Nidec pledged to sell off low-profit units while investin
Japanese motor maker Nidec, working to rebuild investor confidence after an accounting scandal, has pledged to sell off low-profit units while directing investment into businesses tied to artificial intelligence, semiconductors and energy. The restructuring plan is aimed at convincing markets the company can sharpen its focus and deliver stronger returns after the trust-damaging episode.