Nidec CEO steps down, 2025/26 earnings due on Wednesday
FILE PHOTO: Japanese electric motor maker Nidec’s Chief Executive Officer Mitsuya Kishida arrives at a venue for a press conference in Tokyo, Japan, November 14, 2025. REUTERS/Kim Kyung-Hoon/File Photo
Sept 29 : Japanese motor maker Nidec, rocked by an accounting scandal, said President and Chief Executive Mitsuya Kishida stepped down on Tuesday and that Chief Technology Officer Michio Kaida has assumed the additional roles of president and CEO.
• Nidec, one of the world's largest makers of precision motors and a supplier to global automakers, is grappling with a deepening accounting scandal that led to the departure of its founder and other senior executives
• "It was confirmed that Mr. Kishida had, on certain occasions, made statements or engaged in conduct in relation to financial reporting that could not necessarily be regarded as appropriate," the company said in a statement
• Kishida did not immediately respond to a request for comment sent via LinkedIn
• Nidec said it plans to announce results for the financial year ended March 31, 2026, on Wednesday
• Nikkei reported on Monday that Nidec is expected to recognize an impairment loss exceeding 600 billion yen ($3.8 billion), stemming mainly from traction motor systems for electric vehicles
• The write-downs, including revisions tied to the accounting scandal revealed in June 2025, could total about 1 trillion yen, the Nikkei said
• Nidec declined to confirm the Nikkei's figures, saying details would be made available in Wednesday's earnings announcement
($1 = 157.3800 yen)
