Nidec CEO Stresses Compliance in Shift From Fixation on Growth

Nidec Corp. founder Shigenobu Nagamori said the Japanese maker of precision motors is prioritizing compliance, stepping away from a half-century-long focus on profit and growth.

The acquisitive company is now teaching employees about the importance of contributing to society, even if that means additional costs, Nagamori said at the annual shareholders’ meeting Friday in Kyoto. Nidec earlier this week delayed its submission of its securities report over errors in country-of-origin declarations and unpaid import tariffs at a subsidiary in Italy.

Shigenobu Nagamori

Photographer: Akio Kon/Bloomberg

“To compete globally, we need to do the right thing first and foremost,” Nagamori said.

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