There are reports that the Japanese motor manufacturer Nidec, which is mired in a scandal, will accrue losses of about 1 trillion yen in response to accounting issues, and the company's stock price fell 17%. Japanese media Diamond reports that the world's largest precision motor manufacturer plans to retroactively confirm the impairment charges in the fiscal year ending March 2026. The report did not specify the source. The report also said that Nidec's board of directors voted to remove President Mitsuya Kishida at last week's meeting, and it is expected that the new management will be announced as soon as Tuesday. Since accounting issues were disclosed last year, Nidec has continued to be in turmoil. The subjects involved include a number of subsidiaries in Italy, Switzerland, and China, and their automotive inverter business. Earlier this year, the scandal forced the founder and former president, Nagamori Shigenobu, to resign; outsiders believed that the strict corporate culture spawned by his high-pressure aggressive management style was the root cause of widespread financial fraud.

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