Nidec announced that, even after the resignation of its founder, Shigenobu Nagamori (永守重信), it is considering changes to its executive lineup, including President Kishida Mitsuya (岸田光哉), following successive cases of accounting fraud and quality problems. The company is also expected to record a substantial loss ahead of the announcement of last fiscal year's results.
A series of improper acts involving fraudulent accounting practices and quality issues came to light, and founder Shigenobu Nagamori (永守重信) resigned as representative director last December. An independent investigation committee said that pressure to meet targets under Mr. Nagamori's strong leadership led to a succession of improper decisions.
Nidec disclosed today that it is considering changes to its executive lineup, including President Kishida Mitsuya (岸田光哉). There is growing speculation that a future overhaul of the organisational structure is intended to rebuild management.
Even after Mr. Nagamori's resignation, 844 cases of improper conduct, including falsification of product inspection data, have newly come to light. The company is expected to record a substantial loss related to last fiscal year's results, which are scheduled to be announced the day after tomorrow.