Ahead of the deadline for submitting the Internal Management System Confirmation Report, Nidec announced that it will file a lawsuit seeking total damages of approximately ¥27.6 billion from 9 former executives, including founder Shigenobu Nagamori (永守 重信). The company remains at risk of delisting if it fails to submit the report or if its improvements are deemed insufficient.
As the deadline for submitting the Internal Management System Confirmation Report approaches, Nidec announced that it will file a lawsuit seeking approximately ¥27.6 billion in damages from 9 former executives, including founder Shigenobu Nagamori (永守 重信).
The company remains designated by the Tokyo Stock Exchange as a security on special alert, and uncertainty over improvements persists, with the auditor's disclaimer of opinion still outstanding. If the submission is deemed insufficient, the company could face delisting.
The fate of this prestigious company is expected to depend on the rebuilding of its internal controls and the resolution of its legal troubles.