Nidec Corporation6594
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Quality control misconduct findings and potential write-downs damage reputation and financials.
Impact on stocks 1
Robotics & Physical AI
Nidec CorporationNidec Corporation has released findings from its quality control investigation, uncovering 844 cases of misconduct dating back to 2012, including unauthorized changes to materials and designs, falsified tests, and false labels. The Japanese motor maker, which employs over 100,000 people, faces potential write-downs of JPY 250 billion (US $1.6 billion) after prior accounting irregularities. CEO Mitsuya Kishida apologized, noting no safety issues have been found and no massive recalls are planned.
Nidec CorporationQuality control misconduct findings and potential write-downs damage reputation and financials.