--- title: "Nidec: Brazil, the US motor company and the industrial network" language: en canonical: https://dossiertwist.com/dossiers/nidec/americas-and-industrial/ as_of: 2026-10-06 keywords: ["Nidec","accounting","corporate governance","audit","quality","subsidiaries"] --- # Nidec: Brazil, the US motor company and the industrial network **Question.** How do the American and industrial subsidiaries connect without becoming the same business? **Answer.** Brazilian appliance operations, the US motor company and European industrial businesses have different legal identities and evidentiary roles. The map preserves their holdings, management and transactions without transferring allegations between them. ## Brazil’s named company and administrators - Analysis: Brazil’s federal transparency portal identifies Nidec Global Appliance Brasil Ltda., formerly Embraco Industria de Compressores e Solucoes em Refrigeracao Ltda., under CNPJ 29.958.609/0001-50 in Joinville. It lists Nidec Corporation, registered locally as a non-resident entity, among the participants. The Brazilian registration of the Japanese parent is distinct from the subsidiary’s CNPJ. Branch registration dates are not automatically the incorporation date of the whole business. [s-d49] - Analysis: The federal portal names Ronny Kein, Gustavo Rudolf Haverroth and Andre Paz Rosa without specifying their capacities. A retained CNPJ database identifies them as administrators, dating Kein’s appointment to February 2023 and the latter two to May 2026. The commercial page also contains duplicate entries and an undated Ricardo Augusto Bristotti entry absent from the official portal. That discrepancy is not resolved into an asserted current Bristotti mandate. Current appointments do not prove responsibility for the earlier GA rebate episode. [s-d137] [s-d49] ## NMC’s investment and the wider leadership - Analysis: Eve Holding’s 2024 prospectus identifies Nidec Motor Corporation as a Delaware corporation controlled by Nidec Corporation. It records NMC’s subscription for five million Eve shares at US$4 each, totalling US$20 million, and a separate warrant to buy one million shares at US$0.01 each. The warrant is not one million shares already owned. The prospectus says it was not expected to be exercisable within 60 days. Registration of potential resale securities does not prove a resale occurred. NMC’s Missouri business address is not its incorporation jurisdiction. [s-d170] - Analysis: Nidec’s leadership page dated 1 October 2026 names Michael Briggs as NMC president and head of the appliance and automotive division, and Dominique Llonch as chair of both Nidec ASI and Leroy-Somer Holding. Nakagawa and Murakami also hold named holding-company directorships. These are dated company descriptions, not inferred appointment dates or a conclusion that each person held the same role during earlier accounting events. [s-d303] ## FIR identity and local ASI accounts - Analysis: Nidec’s 2015 release says FIR entered the group with the Kinetek acquisition in November 2012 and that Nidec FIR Elettromeccanica acquired E.M.G.’s business in September 2015 as part of its European commercial-motor platform. The release names FIR Elettromeccanica. The later customs disclosure names FIR INTERNATIONAL; the two legal entities are not treated as identical without a retained identity bridge. [s-d130] - Analysis: A commercial Italian registry-data service reports Nidec ASI revenue of €217.43 million and net profit of €57.65 million for 2025, versus €274.74 million and €38.60 million for 2024. These are local subsidiary summaries, not Nidec consolidated results or a reconciliation of later group corrections. The underlying full accounts and paid ownership material were not retained. The service’s promotional interpretation of performance is not adopted. [s-d176] ## Sources - [s-d49] Corporate registry concerning Nidec or a named participant, Brazilian government transparency portal - [s-d137] Corporate registry source · s-d137 - [s-d170] Company statement source · s-d170 - [s-d303] Company statement source · s-d303 - [s-d130] Company statement source · s-d130 - [s-d176] Corporate registry source · s-d176