Mmastodon BusinessMarkets first seen 4 h ago, last 8 min ago, peak #3
Nidec shares plunge 20% after auditor withholds opinion
Original: Nidec shares have plummeted as much as 20% in Tokyo after the Japanese motor maker's auditor declined to give an opinion
Shares in Japanese motor maker Nidec fell as much as 20% in Tokyo after its auditor declined to give an opinion on the company's long-awaited financial statements. The refusal to certify the accounts has rattled investors, deepening concerns about the reliability of Nidec's financial reporting and triggering a sharp sell-off in the stock.
Why now: The sudden 20% share collapse after an auditor refused to sign off on Nidec's financial statements is a major red flag for investors.
NidecTokyo Stock ExchangeJapan Times
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