Nidec Shares Gain After Improper Accounting Final Report Release

Nidec shares rallied as much as 5.2%, the most since April 8, after the motor maker released a final report from an investigation into improper accounting that gave an impact assessment largely in line with an earlier estimate in March.

• Details of the final report were overall in line with the March report, Citi analyst Takayuki Naito wrote in a note:
  • “We think short-term negatives could end with the release of the final report”
  • “Key points now are Nidec’s efforts and stance on maintaining its stock listing”
• NOTE: The company said on Friday the cumulative impact of improper accounting on ...