It was reported in some quarters that Nidec's extraordinary board meeting passed a resolution dismissing President Kishida (岸田), while a policy of recording impairment losses on a scale of ¥1 trillion against the backdrop of accounting irregularities also came to light. The change in top management during the reconstruction process is the focus of attention.
Reports have emerged that an extraordinary board meeting held on 25 September passed a resolution dismissing President Kishida (岸田). The information was attributed to people familiar with the matter, and was circulating before any formal disclosure had been confirmed.
It is reported that Nidec plans to record impairment losses on a scale of ¥1 trillion in response to accounting irregularities. This has again raised questions about financial measures and where management responsibility lies.
The sudden dismissal of the top executive at a company undergoing reconstruction has been described as perplexing, and attention is focused on future changes to the management structure.
As efforts to verify the facts continue, investor interest could revive depending on how additional information emerges.