Nidec disclosed that it was considering selling electronic-components subsidiary Nidec Components to a US investment firm. The sale is expected to exceed ¥100 billion, while former President Kishida (岸田氏) has resigned and new President Kaida Michio (戒田理夫) is leading the company.
Nidec, a major motor manufacturer, disclosed that it was considering selling its electronic-components subsidiary Nidec Components. A US investment firm is reportedly being considered as the prospective buyer.
Nidec has been facing alleged accounting and quality-control issues. These reportedly include accounting irregularities involving the failure to record losses that should have been recognized, as well as unauthorized changes to component designs.
The sale is reportedly expected to exceed ¥100 billion, but the company commented that no decision to sell has been made as of now.
At Nidec, the presidency changed from former President Kishida Mitsuya (岸田光哉) to new President Kaida Michio (戒田理夫).