Nidec announced on the 29th that President Mitsuya Kishida (岸田 光哉) would resign effective the same day. He is believed to have taken responsibility for accounting irregularities and quality issues, with Executive Officer Rimio Kaida (戒田 理夫) expected to become his successor.
Nidec has formally announced that President Mitsuya Kishida (岸田 光哉) will resign as the company enters a management-restructuring phase for the first time in 23 years. The resignation is viewed as part of the process of addressing accountability over accounting irregularities and quality issues, marking a new phase in efforts to restore confidence in management.
Executive Officer Rimio Kaida (戒田 理夫), 70, is scheduled to become the new president. He has served as a senior executive officer. The selection of a new president is expected to affect the restructuring of the company's operating framework and its future business policies.
There are concerns that revisions arising from the accounting irregularities and deteriorating earnings in the electric-vehicle-related business could become even more serious, with some views suggesting that the loss could substantially exceed the amount initially expected.
Kishida is a former Sony Group employee. He joined Nidec in 2022 and became president in April 2024 after serving as a senior executive officer and executive vice president.