Nidec — Evidence records

documentedThe quality committee’s September 2026 report identified 844 quality cases across 12 business units: 60 classified as important and 784 as general. It separately identified six origin-labelling or customs-related cases. ¹

qualification

These are investigated cases under the report’s definitions, not a count of defective products, injured customers or legal convictions. Earlier totals of suspected cases used different screening, duplication and inclusion rules.

documentedOf the 844 quality cases, 805 involved changes to people, machines, materials or methods without required approval; 22 involved fabricated or altered test results, 11 altered test conditions, four unauthorised products and two improper records. Nidec Instruments, Mobility and Techno Motor accounted for 767 cases, or 90.9%. ¹

qualification

Case counts do not rank safety consequences. “Important” includes specified involvement, legal, certification and technical-risk criteria; “general” does not mean harmless or fully resolved. The committee did not independently validate site assessments of safety or recall risk.

documentedThe committee used interviews, document work and supplementary surveys, including 89,973 responses from 97,663 targeted personnel. It did not independently repeat every company-led investigation, verify every exclusion or capture all potential quality problems. ¹

qualification

This was a voluntary, time-limited investigation. Some people did not respond or supplied only written replies; unresolved fact-finding was left for further work. The committee’s conclusions do not bind a court or regulator.

documentedKeyword-based forensic review covering 31 current or former leaders did not reveal new quality episodes or emails clearly showing instructions or acquiescence in specific misconduct. The committee nevertheless identified structural problems in demanding targets, resources, reporting and control of acquired or transferred operations. ¹

qualification

The report did not find that Nagamori or other top management directed the identified quality misconduct to meet targets. This is distinct from its criticism of the organisation and from the separate accounting committee’s individual findings.

documentedAn unnamed AMEC Organic factory repeatedly reworked automotive motor parts without required customer approval to reduce scrap and costs. Some practices dated to at least around 2012 and all had stopped by 19 February 2026. ¹

qualification

The report found inadequate risk assessment, records and traceability, but no identified market failure attributable to the practice by its reporting date. Available records did not identify the decision-maker, approver or highest manager aware before discovery.

documentedAn overseas Nidec Mobility plant used 15% recycled resin in one part number for which the customer prohibited it, from around August 2020 to September 2025. It stopped after internal discovery but did not notify the customer until May 2026. ¹

qualification

The investigators could not identify the actual operator or approver, and found no evidence that the plant head knew or approved it. This was one confirmed part number, not every component made there.

response

The plant judged the risk low because its tests found no problem and no warranty problem had been reported over six years. The report treats this as the plant’s reason for delayed disclosure, not independent proof that the contractual breach was immaterial.

documentedAfter a production transfer, Nidec Techno Motor told a customer in May 2026 that chemical-content requirements were met without obtaining the necessary supplier information. The gap was reported around mid-June, and collection of missing information continued during the investigation. ¹

qualification

The investigation did not establish that the products actually contained a chemical prohibited by the customer. Many older information gaps concerned updates to previously obtained data.

documentedNidec Instruments operations recorded standard passing values as though measured when required per-lot torque or pull-strength tests had not been performed. The report traces torque practices to at least January 2022 and pull-strength practices to at least May 2024, continuing until around July 2026. ¹

qualification

The practices were inherited or continued through a business transfer. Staff believed stable production and past satisfactory checks made repeated testing unnecessary, but no customer approval for changing the testing frequency or substituting other tests was confirmed.

documentedNidec’s September disclosure promised stronger independent quality authority, reporting and escalation, including power to stop shipments, continuing quality reporting and customer discussions. The committee recommended realistic resources and targets and testing whether changes work in practice. ^{2 1}

qualification

These were announced measures and recommendations, not proof of completed remediation. The September 4 statement that no material prior-period financial effect had been identified was a dated company assessment.

outcome

The later annual report recorded warranty provisions it described as limited and said customer discussions continued, with possible additional compensation or related costs not then reasonably estimable.

documentedNidec’s annual report says NIDEC FIR INTERNATIONAL paid approximately US$6.8 million including interest for US customs underpayments for April 2021–September 2025, and that CBP closed that matter on 2 December 2025. Nidec Motor Corporation and Nidec Global Appliance North America separately estimated additional duties of approximately US$70.7 million including interest and made voluntary disclosures in August 2026; those matters remained pending. ²

qualification

These are the company’s account of the named entities’ customs matters. A closed FIR matter does not close the separate NMC/NGANA disclosures. FIR INTERNATIONAL is not silently merged with another similarly named Italian group company.

documentedThe annual report identifies approximately US$16.6 million of additional US underpayment exposure at five other subsidiaries, investigation at a further 21, and planned voluntary disclosure for those 26. It also describes undervalued used-equipment imports by former Nidec Elesys in China, a completed Swiss registration matter with no stated financial impact and separate Chinese withholding-tax issues. ²

qualification

The company characterised the identified Chinese financial effects as limited. The unnamed subsidiaries are not assigned to named group companies merely because they operate in the same country. The US amounts describe separate disclosed groups and stages, not an additional amount to be added twice.

documentedThe quality report describes questionable Japan-origin labels or invoices for NDTC machine parts and measuring products, and former Nidec Elesys supplier certificates that continued to claim Japanese origin after part of production moved abroad. ¹

qualification

These are source-described origin-control failures. They are not equated with every US customs underpayment in the annual report; the sources use different case scopes.

documentedSeparately from customs underpayments, Nidec disclosed an application for roughly US$70 million in IEEPA-related tariff refunds in the United States. ²

qualification

The application was pending in the retained disclosure. It is neither an approved receivable recovery nor an offset that can be netted against the separately reported customs payments.

documentedNidec’s shareholder register at 31 March 2026 lists Shigenobu Nagamori at 8.61%, Kyoto Bank at 4.32% and SN Kosan GK at 3.52%, calculated against issued shares excluding treasury stock. The ten largest registered entries together represent 34.17%. ²

qualification

The same table includes custody and client accounts. Their registered balances do not establish the ultimate beneficial investors or imply that every named institution controls those shares for its own account. Different large-holding filings use different dates and denominators.

documentedOasis Management Company Ltd., a Cayman Islands investment manager, reported 95,067,750 Nidec share-equivalents, or 7.97%, as of 9 September 2026 in a filing submitted on 16 September. The previous filing’s percentage was 6.78%. ³

qualification

The position includes 95,067,725 shares and 25 depositary-receipt equivalents. This is a statutory holding disclosure by an asset manager, not a claim that all underlying assets belong beneficially to the manager. It is later than the March shareholder-register snapshot.

documentedOasis disclosed proposals concerning board composition, capital policy, possible delisting and a transaction that could put a third party above a majority of voting rights. It also described a conditional intention to increase its holding by more than five percentage points. ³

qualification

These were disclosed proposals and intentions, with price, quantity, timing and possible regulatory approvals unresolved. They are not evidence of a completed takeover, delisting or later acquisition.

documentedNagamori left his executive chairman role on 19 December 2025 and became non-full-time chairman emeritus; he resigned that honorary position on 26 February 2026. The committee records that the weekly Nagamori–Kobe–Kishida meeting ceased after the December change. ^{2 4}

qualification

Departure from office is distinct from the March 2026 registered shareholding. The retained ownership table does not establish a subsequent sale.

documentedOfficial corporate-number records identify SN Kosan GK as 8130002016189 and Minoreas Co., Ltd. as 2130001082824, with the same registered business address in Kyoto. Minoreas’s number record was updated on 21 August 2026. ^{5 6}

qualification

A shared registered address does not establish ownership. Corporate-number assignment or update is not automatically the legal incorporation date. A similarly named kabushiki kaisha is not merged with SN Kosan GK without evidence.

documentedOctober 2026 reporting describes Minoreas as a new Nagamori family venture incorporated on 31 July for investment, acquisitions and corporate rehabilitation. A separate commercial database, which says it checked a registry extract on 2 October, lists Yoshihisa Kitao as representative director and Tomohiro Nagamori as director. ^{7 5 8}

qualification

The corporate-number service confirms identity and address, not those directorships or beneficial ownership. The underlying commercial-register extract was not retained. The media account describes Tomohiro as Shigenobu’s second son; its account of strategy relies partly on an unnamed financial-sector source.

response

A staff member at the SN Kosan office told the publication that the interview request was declined.

outcome

No transfer of Nidec assets to this venture, or responsibility for Nidec accounting misconduct, is established by these affiliations.

documentedNidec says Hiroshi Kobe, Yoshihisa Kitao, Akinobu Samura and Tatsuya Nishimoto resigned all group positions on 3 March 2026 following the accounting report. Valter Taranzano’s duties were suspended on 2 March and he left on 23 March. ²

qualification

These are company personnel measures, not judicial findings of individual liability. Their prior responsibilities differed: Kobe was board chair; Kitao covered SPMS and group companies; Samura was CFO; Nishimoto led machinery; Taranzano led the appliance and automotive division.

documentedThe annual filing records a major June 2026 board renewal. Sato, Komatsu and Sakai left their outside-director positions on 18 June; Ochiai, Yamada, Toyoshima and Umeda left their audit-and-supervisory committee directorships that day. Nine new directors were elected. ²

qualification

The dates establish office changes, not reasons or misconduct. Yoshii had joined on 20 June 2025; Murakami left the parent’s audit-and-supervisory committee directorship that day.

documentedThe filing distinguishes board seats from advisory committees: Kishida left the nomination committee on 26 March 2026, while his compensation-committee role ended on 18 June. Nagamori had left the compensation committee on 20 June 2025. The June renewal put Yamamoto, Koizumi, Sakuma and Nishiura on both advisory committees. ²

qualification

Committee dates are not interchangeable with executive or statutory-director tenures.

documentedThe annual filing places Yoshii as statutory auditor at several machinery and service subsidiaries from July 2025, with Components added in June 2026. Yamazaki’s June 2026 appointments include statutory-auditor roles at Instruments, Powertrain, Precision and Mobility. ²

qualification

These oversight capacities are distinct from managing the subsidiaries or being responsible for past accounting events. The filing does not mark Yoshii’s Machinery position as continuing, so it is preserved only as a historical appointment.

documentedNidec says it expanded outside oversight, created a board-support office in June 2026 and revised executive selection, reporting and remuneration processes. Its audit-and-supervisory committee judged PwC’s performance for the year appropriate and voted to reappoint it; all but one engagement partner had changed after receipt of the February report. ²

qualification

This is the company’s governance assessment, not an independent finding that controls were already effective. The subsequent auditor disclaimers and continuing evidence problems remain material.

documentedThe 2023 annual filing records Murakami as statutory auditor of seven named subsidiaries and Ochiai of seven others, including entities later renamed or merged. Their parent audit-and-supervisory committee seats and their subsidiary statutory-auditor capacities are separate mandates. ^{4 9}

qualification

The graph preserves the filing’s dated appointments as historical snapshots. It does not extend those positions indefinitely or identify these officers as the anonymous people criticised in the investigation.

documentedHistorical filings record Takeshi Nakane’s audit-and-supervisory committee directorship ending on 12 October 2022, Junko Watanabe succeeding him the next day, and Tamame Akamatsu leaving on 20 June 2023 when Hiroe Toyoshima joined. Watanabe’s committee directorship ended on 18 June 2024. ^{9 10}

qualification

Appointment dates, committee membership and attendance periods differ. They are not converted into a common tenure or a collective allegation of misconduct.

documentedThe historical annual tables show several executives holding subsidiary chairmanships alongside parent offices: Nagamori at Shimpo, Mobility and Techno Motor; Seki at Nidec India and Tosok; Kishida at Powertrain, Elesys and Mobility; and Kobe at Techno Motor and Global Service. ^{10 11}

qualification

The graph uses each table’s stated appointment and snapshot, not an invented continuous term. Tosok became Powertrain; Shimpo became Drive Technology. Elesys’s later absorption into Mobility is separately dated. These positions do not establish responsibility for an episode described anonymously.

documentedThe annual tables distinguish Seki’s president/COO appointment in April 2020, CEO appointment in June 2021 and return to COO in April 2022 from Kobe’s September 2022 president/COO appointment and April 2024 board chairmanship. Kishida became president/CEO in April 2024 and representative director that June. ^{10 11}

qualification

These are dated historical capacities. The later resignations and the committee’s differentiated responsibility findings are recorded separately; the position itself is not proof of misconduct.

documentedNidec’s 2022 filing lists outside director Takeshi Nakane’s March 2018 appointment to the board of Kyoto Gakuen, later Nagamori Gakuen. The same filing lists Nagamori as chairman of that educational corporation. ¹¹

qualification

The affiliation is a historical institutional connection, not a finding of compromised independence or accounting responsibility.

response

The company stated that it had no special relationship of interest with Nakane or the institutions to which he belonged and described its outside-director selection as intended to preserve independence.

documentedThe March 2026 annual table identifies major consolidated subsidiaries across Japan, Asia, the Americas and Europe, plus 306 other consolidated companies. It distinguishes total voting interests from the indirect portion included within them. ²

qualification

A parent-to-subsidiary line in this dossier can describe group voting control rather than direct legal title. Business-unit membership, shared officers and supply relationships are separate capacities. Consolidation and a management role do not establish participation in a particular accounting episode.

documentedThe annual report lists March 2026 negative equity exceeding ¥10 billion at the Polish automotive subsidiary (¥23.132 billion), NAMA (¥41.416 billion), Electric Motor Serbia (¥15.346 billion), the German automotive subsidiary (¥16.300 billion), Elesys Zhejiang (¥28.739 billion), Powertrain Zhejiang (¥36.564 billion) and Elesys Europe (¥13.507 billion). ²

qualification

These are subsidiary figures in the group annual report, not a statement that all group companies are insolvent. They are not reconciled here to earlier local accounts with different periods and accounting bases.

documentedOctober 1 reporting of Nidec’s announcement says it agreed to sell all of Nidec Components to TCG2603, indirectly held by Carlyle-related funds, for ¥102.98 billion, with transfer planned for 1 December 2026. ¹²

qualification

The retained announcement describes a signed agreement and future closing, not a completed disposal within the archive cutoff. Carlyle’s management of related funds is not itself direct title to the shares.

response

Nidec presented the deal as part of its portfolio reform, allowing Components to pursue investment and growth with an external partner while the group concentrates resources on priorities.

outcome

The company said the effect on consolidated results was under examination.

documentedJapan’s corporate-number history shows Nidec Mobility, number 9180001088975 and formerly Omron Automotive Electronics, absorbed Nidec Elesys, number 4020001041054, effective 1 April 2025. ¹³

qualification

The merger is distinct from the parent’s later assumption of the inverter operation. A historical Elesys episode must remain dated to the entity and business then responsible.

documentedThe parent’s March 2026 contingent-liability note reports guarantees for named subsidiaries, including ¥20.584 billion for Nidec PSA eMotors, ¥1.891 billion for the Serbian electric-motor company, ¥1.183 billion for Elesys Europe and ¥870 million for GPM Hungary. ²

qualification

These are reported guarantees of subsidiary obligations, not amounts paid, separate misconduct findings or additional losses to aggregate with impairment. The note also lists five smaller guaranteed balances.

documentedThe corporate-number record preserves the parent’s change from Nihon Densan to Nidec in April 2023 and its absorption of Nidec ASI Japan Corporation, corporate number 4010701027642, effective 1 April 2023. ¹⁴

qualification

The absorbed Japanese company is distinct from the Italian Nidec ASI entity. The record’s corporate-number assignment date is not the parent’s incorporation date.

documentedRetained German registry-derived records distinguish Nidec GPM GmbH (Jena HRB 300562), Nidec Motors & Actuators (Germany) GmbH (Stuttgart HRB 302063) and Nidec AMEC Europe GmbH (Stuttgart HRB 764667). AMEC Europe’s stated purpose includes operational leadership, setting targets and monitoring the group’s automotive businesses.

qualification

The operational headquarters is a separate legal company. It is not interchangeable with every AMEC factory or business-unit label. Registration and formation dates can also differ.

documentedRegistry-derived histories place Guilherme Silva de Almeida and Tuna Sürücü in management roles across the three German companies in late 2025; Tiago Aurelio Figueiredo joined the German Motors & Actuators management. They also preserve earlier mandates held by Kishida, Igarashi, Kawasaka, Schulte and Yokota.

qualification

Dates below are reported registry-entry intervals, not automatically employment start and end dates. The original registry extracts were not retained for every entry; commercial services reproduce or summarise them. A mandate does not prove involvement in misconduct.

documentedThe retained GPM company profile records a profit-transfer agreement with Nidec Motors & Actuators (Germany). ¹⁵

qualification

The agreement is a specific corporate relationship. It is not, by itself, proof of a particular ownership percentage or of responsibility for GPM’s disputed accounting decisions.

documentedNidec’s own 2022 and 2024 notices identify Kazutsugu Igarashi in senior automotive roles and chairmanships at named Chinese and American subsidiaries. December 2024 reporting says he left Nidec at the end of November and was appointed to a Proterial executive role effective January 2025. ^{20 21 22}

qualification

Later German register entries still naming him are preserved as registry history. They do not prove he continued working for Nidec after the reported departure; the reason for the difference is not established.

documentedRegistry-derived profiles identify the Polish company by KRS 0000262021 and Nidec Electric Motor Serbia by MB 21648850. The Polish profile names Nidec Europe B.V. as sole shareholder and lists Silva de Almeida, Figueiredo, Marko Ivović and Leszek Brzyski on its board; the Serbian profile names the first three as directors. ^{23 24}

qualification

Dorota Dąbkowska is listed as a joint authorised commercial representative, a different capacity from board membership. The commercial profiles’ local financial summaries are not reconciled to the later yen-denominated negative-equity figures in Nidec’s group report.

documentedSpanish registry-derived notices record Winch David Carter as Arisa chair from 17 March 2026, a January 2024 reappointment of PricewaterhouseCoopers Auditores S.L. as auditor, and Arisa’s absorption of Arisa Servicio Tecnico in January 2022. ²⁵

qualification

The preserved name order is “Winch David Carter”; the underlying original BORME notice was not separately retained. These dated governance and merger records do not implicate the named officers or auditor in NDTC’s accounting episode.

documentedA retained commercial registry profile lists Tuna Sürücü as managing director of NMA Property Verwaltungsgesellschaft mbH and Nidec driveXpert GmbH, alongside the three German operating companies discussed here. ²⁶

qualification

The profile is an aggregator’s current-status snapshot, not a dated appointment instrument. It establishes a reported corporate capacity, not responsibility for accounting misconduct or beneficial ownership.

documentedBrazil’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. ²⁷

qualification

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.

documentedThe 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. ^{28 27}

qualification

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.

documentedEve 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. ²⁹

qualification

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.

documentedNidec’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. ³⁰

qualification

These are dated company descriptions, not inferred appointment dates or a conclusion that each person held the same role during earlier accounting events.

documentedNidec’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. ³¹

qualification

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.

documentedA 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. ³²

qualification

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.

documentedNidec’s October leadership page lists Feng Jing as chair and general manager of Automotive Motor Zhejiang, with directorships at Guangzhou and Jiangsu automotive companies. Older records placing Igarashi in those Chinese chairmanships are historical, not a substitute for the later company disclosure. ^{20 21 30}

qualification

The Zhejiang automotive company is separate from Techno Motor Zhejiang. The named capacity is not proof that Feng or another director authorised an anonymous operational decision in the investigation reports.

documentedThailand’s DBD profile identifies Nidec Electronics (Thailand), registration 0105533101569, as an active spindle-motor company established on 24 August 1990. The snapshot is dated 5 October 2026 and lists five directors. ³³

qualification

Thai Buddhist-calendar years 2533 and 2569 correspond to 1990 and 2026. The directors’ Thai spellings are preserved where an independent Latin spelling was not established; similarity to a person at another subsidiary does not prove identity.

documentedTaiwan’s company-register page identifies Yohei Sumikawa as chair of Nidec Chaun-Choung and lists Yuji Tanaka among the directors representing Nidec. Its displayed board term is June 2025–June 2028, subject to the registry’s warning that terms can change. ^{34 35}

qualification

The 74,514,982-share balance repeated beside several representatives is the represented corporate shareholder’s position, not a separate personal holding for each director. Nidec’s notice dates Tanaka’s directorship there from October 2025.

documentedIn an August 2026 account of Chaun-Choung’s response to a June ransomware incident, the company said external digital forensics found no clear technical evidence of data exfiltration, despite attackers’ publication of folder and file-name screenshots. ³⁷

qualification

The company explicitly did not rule out a leak and said it would continue monitoring. This is not a finding that no data were exposed, nor proof that the incident is identical to an unnamed event in another group document.

documentedTwo retained commercial services identify Nidec India under CIN U29100HR2010FTC041709, incorporated on 16 December 2010. The page updated on 5 October 2026 lists Keiji Oshima, Hiroyuki Temba, Masahiro Miura and Shigehiro Tsujimura; an older-data page still lists Kitao and Hatanaka. ^{38 39}

qualification

The later profile is used as a dated reported roster, not a direct original MCA extract. Absence from it does not establish an exact resignation date. The older page’s displayed accounts end in March 2023, so its “current” label is not adopted without qualification.

documentedThe older Indian profile records former Nidec India directorships ending for Yoshimoto in April 2020, Seki in September 2022, Katayama in September 2021 and Kishida in March 2024. It also lists Oshima at Mobility India and historically at Sanyo businesses. ^{38 39}

qualification

The later service marks Sanyo BPL dissolved, so an older “ongoing” label is not treated as a current operating mandate. Common directors do not establish ownership between companies.

documentedNidec announced subsidiary president changes effective 1 October 2026: Takeshi Nishiyama at Techno Motor, Yuji Tanaka at Drive Technology, Katsuhiro Wada at Powertrain Systems and Kenji Hamanaka at Machine Tool. The notices describe a new growth phase and preserve predecessors’ advisory or other roles. ^{34 40 30}

qualification

A personnel change is not itself a finding against the predecessor. Nishiyama’s notice places his CFO appointment in June 2026, and Hamanaka’s biography separately records an OKK CTO role from June 2026; those dates are not backdated.

documentedThe corporate-number history for 9100001006440 identifies former Copal Yamada, renamed Nidec Precision Yamada in April 2023 and Apic Yamada Precision on 31 March 2025. ⁴¹

qualification

The change to a name without “Nidec” does not by itself establish a sale or departure from the group.

documentedNidec established an Executive Responsibility Investigation Committee on 13 March 2026 to examine possible legal responsibility of directors, auditors and executive officers serving from FY2020 through the first quarter of FY2025. The September annual filing says that work continued. ^{2 42}

qualification

The company said it would decide on damages claims or other legal measures after the committee’s recommendations. Establishing the committee does not establish a final legal finding against every person within its remit.

documentedA 17 February 2026 Rosen Law Firm notice announced investigation of potential Nidec securities claims and preparation of a prospective class action. ⁴⁹

qualification

This is a lawyer’s solicitation and statement of intention. It does not prove a US class action was filed, a class certified, or liability determined.

documentedIn USITC investigation 337-TA-1073, Intellectual Ventures II accused Nidec Corporation and Nidec Automotive Motor Americas, among other respondents, of patent-related violations. The Nidec respondents were terminated from the investigation in 2018. The Commission ended the remaining investigation in July 2019 with no Section 337 violation because the complainant failed the domestic-industry requirement. ⁵⁰

qualification

The Commission expressly took no position on the other reviewed issues. This procedural history is not a blanket merits finding that every accused product was non-infringing, and the later decision concerned respondents remaining after Nidec’s departure. It is unrelated to the accounting investigation.

documentedNidec’s FY2022 annual report says it sold Secop to the ESSVP IV buyer group on 9 September 2019 as a condition of the Embraco acquisition. A sale-price dispute led to German arbitration in January 2021 and settlement in March 2023, ending that arbitration. ⁹

qualification

The company had lost effective control on 12 April 2019 before the later share transfer. Settlement terms are not supplied here; some sale costs were still expected. The disclosure does not connect this commercial dispute with the later accounting misconduct.

documentedNidec’s September results presentation puts the reduction in consolidated net assets at 31 March 2025 at ¥476.9 billion: approximately ¥208.0 billion of accounting corrections and ¥288.0 billion of secondary impairment effects. ⁵¹

qualification

This March year-end comparison is not the committee’s ¥160.7 billion first-quarter estimate or the later ¥482.457 billion second-quarter comparison in the annual filing. Different dates and the inclusion of secondary effects prevent those totals from being added together.

documentedThe separate parent-company accounts restate March 2025 net assets from ¥339.045 billion to ¥202.984 billion and that year’s net profit from ¥55.171 billion to ¥48.888 billion. An additional ¥129.778 billion cumulative correction is recorded against opening retained earnings for periods before the comparative year. ²

qualification

These parent-only Japanese-GAAP figures are distinct from consolidated IFRS measures. The opening retained-earnings adjustment is part of the restatement mechanics, not another loss to add to the ending net-asset reduction.

documentedAt 31 March 2026 the consolidated annual filing reports ¥852.204 billion of cash and cash equivalents, ¥587.026 billion of short-term borrowings, ¥95.106 billion of long-term debt due within one year and ¥431.272 billion of long-term debt. Short-term borrowings rose by ¥493.316 billion during the year. ²

qualification

Cash is a balance, not proof that the accounting losses were reversed. About 48% was held outside Japan; the company describes some cross-border remittance restrictions but says they had no material effect on liquidity, financial position or results. These reported figures remain subject to the audit disclaimer.