Nidec to Set up Third-Party Investigation on Improper Accounting

Nidec will set up a third-party committee to investigate improper accounting, triggered by an internal probe into a ~200m yen payment its unit Nidec Techno Motor in Zhejiang.

• Internal probe found documents suggesting Nidec and its group companies could be practising improper accounting more widely, with management knowledge
  • Parties could have arbitrarily considered when to write down value of certain assets
• NOTE: In relation to separate trade and customs-related issues, company was approved in June to delay filing securities report to Sept. 26

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