---
title: "NIDEC management and board changes, December 2025 to October 2026"
language: en
canonical: https://dossiertwist.com/dossiers/nidec/management/changes-2025-2026/
as_of: 2026-10-06
keywords: ["NIDEC","Nidec Corporation","Shigenobu Nagamori","Mitsuya Kishida","Hiroshi Kobe","Michio Kaida","Third-Party Committee","improper accounting","PwC Japan","disclaimer of opinion","Securities on Special Alert","Tokyo Stock Exchange","legacy liabilities","special audits","quality misconduct","derivative suit","Nidec Drive Technology","Nidec Precision","Oasis Management","Nidec Components"]
---

# NIDEC management and board changes, December 2025 to October 2026

**Question.** Who left NIDEC's management and board between December 2025 and October 2026, who replaced them, and what reasons were given?

**Answer.** Shigenobu Nagamori resigned as a NIDEC director on 19 December 2025; on 3 March 2026, in what NIDEC presented as responses to managerial responsibility after the Third-Party Committee's report, former chairman Hiroshi Kobe and three other senior executives resigned, a fifth left later that month, and officers voluntarily returned part or all of their monthly base pay. On 18 June 2026 shareholders elected nine new outside directors, and outside director Soichiro Sakuma became board chair. On 29 September 2026 Mitsuya Kishida resigned as president and CEO after the board discussed conduct relating to financial reporting that NIDEC said could not necessarily be regarded as appropriate, and Michio Kaida succeeded him; NIDEC said legal responsibility would be judged on the results of the Executive Responsibility Investigation Committee's investigation.

## Nagamori's exit and the March 2026 resignations

- Analysis: Shigenobu Nagamori resigned as a NIDEC director on 19 December 2025, according to NIDEC's annual securities report for the fiscal year ended 31 March 2026. Press reports state that in December 2025 he also gave up the posts of Global Group Representative, representative director and chair of the board, and that in February 2026 he stepped down as honorary chairman. NIDEC's investor-news list shows a notice dated 26 February 2026 on the resignation of the honorary chairman, the post the Third-Party Committee calls chairman emeritus, but the list gives only the notice's title and date; the December 2025 titles and the honorary-chairman resignation otherwise rest on the press reports. A press report quoted Nagamori as saying that, with NIDEC's revival now the most important issue, he had decided to withdraw from its management. [src-026] [src-003] [src-004] [src-113] [src-038]
- Analysis: Five senior executives left in March 2026. NIDEC's annual securities report states that, after it emerged that numerous instances of accounting misconduct had been carried out over a long period at many locations, former chairman Hiroshi Kobe, former executive vice president Yoshihisa Kitao (head of the small precision motor business unit, in charge of group companies), former senior vice president and chief financial officer Akinobu Samura and former executive consultant Tatsuya Nishimoto (head of the machinery business unit) resigned from all positions as of 3 March 2026. Former first senior vice president Valter Taranzano, head of the appliance and automotive division, whose duties had been suspended on 2 March, left on 23 March 2026. NIDEC presented these personnel actions in its 3 March response to the Third-Party Committee's report as responses to managerial responsibility. NIDEC's notices set out no findings on each person's conduct, and the Executive Responsibility Investigation Committee's review of officers' legal responsibility was still in progress when the annual report was filed. [src-003] [src-027] [src-008]
- Analysis: In the same 3 March 2026 presentation NIDEC listed the abolition of the chief performance officer position among its personnel actions. According to the Third-Party Committee's report, the post had been created in June 2019 on the recommendation of an outside law firm that had investigated improper accounting found in the second half of fiscal 2018 (the year ended 31 March 2019), so that the accounting line and the performance-management line would be separated. [src-008] [src-004]
- Analysis: NIDEC also announced on 3 March 2026 that officers would give up part or all of their monthly base compensation from March 2026. The representative director and president (CEO) was to forgo 100% of monthly base compensation until NIDEC submitted its Written Confirmation of Internal Management System to the Tokyo Stock Exchange, scheduled by the end of October 2026. First senior vice presidents, senior vice presidents and vice presidents were to give up 50% for four months, and directors on the audit and supervisory committee and outside directors 30% for four months. The annual securities report describes these as voluntary returns of compensation, giving the positions as of 27 April 2026. [src-008] [src-003]

## The board and committees elected in June 2026

- Analysis: At the general meeting of 18 June 2026 NIDEC's shareholders elected five new outside directors outside the audit and supervisory committee, each for a one-year term: Soichiro Sakuma, a former representative director and executive vice president of Nippon Steel & Sumitomo Metal; Akitsugu Era, a former head of investment stewardship at BlackRock Japan and a partner at Brunswick Group; Shinichi Koizumi, a former representative director and executive vice president of Toray Industries; Yuji Nishiura, a former head of AlixPartners in Japan and chair of the LIXIL board; and Ryoichi Yamamoto, a former president of J. Front Retailing. Sakuma became chair of the board of directors. NIDEC's annual securities report for the fiscal year ended 31 March 2026 describes a move to selecting the board chair from among independent outside directors, and the quality-misconduct committee's report states that the chair had been changed from the representative director and president to an outside director to strengthen the board's supervisory function. [src-003] [src-073]
- Analysis: The same meeting elected four outside directors to the audit and supervisory committee for two-year terms: Takeshi Yamazaki as full-time member, a former Hitachi executive and full-time statutory auditor of a Hitachi group company; Hideki Amano, a certified public accountant and former deputy chairman of the audit firm KPMG AZSA; Misawa Kishinami, a former investment banker at Goldman Sachs and UBS; and Mitsuhiro Hasegawa, a former public prosecutor who chaired the Securities and Exchange Surveillance Commission from December 2016 to December 2022. Together with Hiroshi Yoshii, the committee then consisted of five outside directors, chaired by Amano. The annual securities report also lists Yamazaki as statutory auditor of Nidec Advanced Motor, Nidec Instruments, Nidec Powertrain Systems, Nidec Precision and Nidec Mobility. [src-003]
- Analysis: Seven directors left the board on the same day. NIDEC's annual securities report records that on 18 June 2026 outside directors Shinichi Sato, Yayoi Komatsu and Takako Sakai retired; that Hiroyuki Ochiai, an inside director and full-time audit and supervisory committee member, and the outside committee members Aya Yamada and Kunio Umeda also retired; and that outside committee member Hiroe Toyoshima resigned, although one note of the report lists Toyoshima among those who retired on that date. [src-003]
- Analysis: The quality-misconduct committee's report of September 2026 describes NIDEC's board as ten outside directors and three inside directors, namely Mitsuya Kishida, representative director, president and CEO, Masayuki Minai, director and senior vice president, and Takeshi Miyake, director and vice president; all five audit and supervisory committee members were outside directors. The report states that NIDEC appointed directors with diverse expertise after insufficient diversity of outside officers' expertise had been cited as one cause of the accounting problem. Miyake, who had worked at Sony and been an executive officer of Mitsui-Soko, joined NIDEC as an executive consultant in September 2025, became vice president and chief supply chain officer in December 2025 and a director in June 2026, according to the annual securities report. That report, filed on 30 September 2026, the day after Kishida's resignation, gives 12 directors, 10 of them outside. [src-073] [src-003] [src-005]
- Analysis: The nomination and compensation committees changed membership on the same date. From the general meeting of 18 June 2026 each consists of five independent outside directors: Ryoichi Yamamoto, Shinichi Koizumi, Soichiro Sakuma and Yuji Nishiura joined both committees on that day, alongside Hiroshi Yoshii. The quality-misconduct committee's report states that both committees are chaired by outside directors. The annual securities report names the members but not the chairs; the chair of the nomination committee is identified only in board chair Sakuma's remarks at the press conference of 1 October 2026, as recorded in a transcript published by a third party, in which he described the committee as chaired by Yamamoto, with Koizumi, Nishiura, Yoshii and himself as members. [src-073] [src-097] [src-003]
- Analysis: According to the annual securities report, the June 2026 candidates came out of a revised nomination process. The nomination committee adopted new selection criteria for directors and executive officers that add ethics, compliance and market discipline to past performance, and extended its review from the president and executive vice presidents to all executive officers. It revised the board skills matrix on 9 May 2026 and reported director candidates to the board on 13 May 2026; all the candidates NIDEC proposed were elected at the June 2026 general meeting. A board office to support the outside directors was set up on 1 June 2026. [src-003]

## Mitsuya Kishida's resignation in September 2026

- Analysis: On 29 September 2026 NIDEC announced that Mitsuya Kishida had resigned as representative director and president and chief executive officer with effect from that day. An extraordinary board meeting the same day appointed Michio Kaida, until then first senior vice president and chief technology officer, as president and chief executive officer, keeping the chief technology officer role, and made Masayuki Minai, director and senior vice president (chief compliance officer and chief human resources officer), a representative director, both with effect from 29 September. Kaida was nominated as a director candidate; his appointment as representative director, president and CEO was to be approved at an extraordinary general meeting of shareholders and at the board meeting held immediately after it. [src-005] [src-013]
- Analysis: NIDEC's notice of 29 September 2026 gave its reasons. While preparing the results for the fiscal year ended 31 March 2026 and correcting prior years, it said, the company re-evaluated the conduct of officers and employees under its former management and confirmed that Kishida had on certain occasions made statements or engaged in conduct in relation to financial reporting that could not necessarily be regarded as appropriate. It credited his sincere efforts for the company's recovery since the Third-Party Committee was set up in 2025 but cited the higher ethical standard expected under the new governance structure; after the board discussed the future management structure, Kishida offered to resign, the board accepted and Kaida succeeded him. This is NIDEC's own assessment, not a finding of the Third-Party Committee, a court or a regulator; the notice does not describe the conduct, and NIDEC said former officers' legal responsibility, including Kishida's, would be judged on the Executive Responsibility Investigation Committee's results. At the press conference of 1 October 2026, PwC Japan representative executive officer Masataka Kubota said Kishida was not among the officers referred to in the basis for the auditor's disclaimer of opinion, as the opinion was as of 30 September and Kishida had resigned the day before; Minai said NIDEC regarded the matter as unrelated to the reasons for the disclaimer. [src-023] [src-097] [src-005]
- Analysis: Board chair Soichiro Sakuma gave an account of the board's handling at the press conference of 1 October 2026, as reported by the press and recorded in a transcript published by a third party. In mid-September the board received a first, approximate report of impairment losses exceeding ¥600 billion for the fiscal year ended 31 March 2026, and directors were informed of what he called Kishida's inappropriate statements and conduct regarding financial reporting. On 25 September 2026 the board discussed the matter, heard Kishida's views and, after he left the meeting as an interested party, agreed unanimously that the president should be changed; Kishida then expressed his intention to resign and submitted his resignation on 29 September. Sakuma described the conduct as communications with persons within the group about financial reporting on more than one occasion, and said the board had judged it against NIDEC's raised ethical standards, not in terms of legal responsibility. Representative director Masayuki Minai declined to give specifics, saying the Executive Responsibility Investigation Committee was assessing the conduct, including legal responsibility. [src-097] [src-023]
- Analysis: On 28 September 2026, the day before the announcement, NIDEC responded to an online business-news report that it had decided to dismiss its representative director and president and to book impairment of around ¥1 trillion. The company stated that it was considering changes of officers and large-scale impairment but had not decided anything at that point. The next day it announced Kishida's resignation and the appointment of Michio Kaida as president. [src-040] [src-005]

## Michio Kaida as president

- Analysis: NIDEC's notice of 29 September 2026 states that the new president was approved by the board after deliberation by the nomination committee, which is composed solely of independent outside directors. As part of succession planning the committee had candidates assessed by an independent third-party organisation and interviewed them, and the board took into account Kaida's contribution as vice chairperson of the Nidec Corporate Reform Committee, set up in October 2025. At the press conference of 1 October 2026 board chair Sakuma added that, because Kishida was a subject of the Executive Responsibility Investigation Committee's inquiry, the board had on 5 August 2026 asked the nomination committee to consider succession planning and officer appointments, including an emergency response. That referral is described in the board chair's remarks, as reported by the press and recorded in a third-party transcript, not in the notice. [src-097] [src-005] [src-023] [src-073]
- Analysis: Kaida came from within the group. According to the notice, he joined Lead Electronics (later Nidec-Read, now Nidec Advance Technology) in April 1979, became senior managing director of Nidec-Read in June 2001 and, at that company, representative director and president in April 2003, representative director and chairman in April 2018, chairman of the board in April 2019 and chairman and executive officer in June 2020, and became first senior vice president and chief technology officer of NIDEC in April 2024. NIDEC's officer page as of 1 October 2026 lists him as president, CEO and CTO and as chairman and executive officer of Nidec Advance Technology. [src-005] [src-116]
- Analysis: At the press conference of 1 October 2026 Kaida was asked whether his appointment was a short-term emergency measure and how successors would be developed. He said his most important mission was to draw up three- to five-year plans and build a team to carry them out, and that he would hand over to someone able to raise the company's value. Sakuma said Kaida was to be proposed as a director candidate at an extraordinary general meeting planned for December and then appointed representative director by the board, and that succession planning, examined since August as an emergency response, would be referred further to the nomination committee. These were statements of intent at the press conference, reported by the press and recorded in a third-party transcript, not board decisions. [src-097] [src-023]
- Analysis: According to a press report of the same conference, Kaida apologised that top management had changed again during the series of accounting and quality problems, and said that maintaining the listing was the company's mission and that NIDEC aimed to obtain an audit opinion during October. The report also said it had emerged that about 20 officers and employees whose involvement in the accounting misconduct or in false explanations to the auditor had been at issue were involved in financial reporting. At the conference itself, according to a transcript, Minai described the persons concerned as located in certain countries and the figure of about 20 as still being confirmed, and no one was named; he said NIDEC was identifying the persons in those countries who were still influencing financial processing and aimed to obtain an unqualified audit opinion by reviewing their placement and roles. The press report quoted him as saying there had in practice been involvement in some of the countries where NIDEC operates. [src-036] [src-097]

## Executive officers after the change of president

- Analysis: Masayuki Minai, the new representative director, came to NIDEC from other companies. According to NIDEC's annual securities report for the fiscal year ended 31 March 2026, he had been general manager of human resources at Toyota Motor and of human resources and administration at Toshiba Lifestyle, joined NIDEC as an executive consultant in January 2025, became vice president, chief compliance officer and chief human resources officer in April 2025, senior vice president in April 2026, a director in June 2026 and representative director in September 2026. He signed the report as representative director and senior vice president when it was filed on 30 September 2026. [src-003] [src-005]
- Analysis: The finance function was led on an acting basis. Kazuo Nakagawa, a NIDEC vice president serving as acting chief financial officer, is the contact person named on the same annual securities report and, with Minai and Kaida, approved the consolidated financial statements on 30 September 2026. NIDEC's officer page as of 1 October 2026 lists him as acting CFO in charge of finance, investor relations, management and accounting and tax, and as a director of Nidec Holding America among other group companies. [src-003] [src-116]
- Analysis: The same officer page lists the heads of several business units and their subsidiary posts. First senior vice president Michael Briggs is chairman of the motion and energy business unit, head of the appliance and automotive division and president of Nidec Motor Corporation; vice president Dominique Llonch heads the motion and energy business unit and is chairman of Nidec Leroy-Somer Holding and of Nidec ASI; and vice president Feng Jing is deputy chief supply chain officer responsible for China, chairman and general manager of Nidec Automotive Motor (Zhejiang) and a director of Guangzhou Nidec Auto Drive System. [src-116]

## New subsidiary presidents in October 2026

- Analysis: NIDEC's notice of 2 October 2026, issued under representative director Masayuki Minai, relayed personnel announcements by six subsidiaries and gave as the reason for the changes to make a start toward new growth. With effect from 1 October 2026, Takeshi Nishiyama, a former Sony finance manager who had been director, senior vice president and CFO of Nidec Techno Motor, became its representative director, president, CEO and CFO, succeeding Masahiro Miura. Yuji Tanaka, a former Sony employee and NIDEC senior vice president heading the small precision motor business unit, became representative director, president and CEO of Nidec Drive Technology, succeeding Haruhiko Niitani, who became an adviser. [src-072]
- Analysis: In the same notice, also with effect from 1 October 2026, Katsuhiro Wada, a former OMRON executive who is NIDEC senior vice president heading the automotive business unit, president of Nidec Mobility and chairman of Nidec Powertrain Systems, became representative director, president and CEO of Nidec Powertrain Systems, succeeding Kazuki Yao, who became an adviser. Kenji Hamanaka, formerly of Mitsubishi Heavy Industries and first senior vice president and CTO of Nidec Machine Tool and Nidec OKK, became representative director, president and CEO of Nidec Machine Tool, succeeding Niitani, who became an adviser there as well. [src-072]
- Analysis: A press report of 5 October 2026 states that Niitani, who had been president of Nidec Drive Technology, Nidec Machine Tool and Nidec OKK, became an adviser to each; that the former presidents Miura of Nidec Techno Motor and Yao of Nidec Powertrain Systems became advisers to their companies; and that Hamanaka became president of Nidec OKK as well as Nidec Machine Tool. NIDEC's notice of 2 October 2026 covers six subsidiaries and does not include Nidec OKK, so the change of that company's president rests on the press report. NIDEC's officer page as of 1 October 2026 lists Niitani as a NIDEC vice president and adviser to Nidec OKK, Nidec Drive Technology, Nidec Machine Tool and TAKISAWA, and Miura as a NIDEC vice president and adviser to Nidec Techno Motor. [src-090] [src-116] [src-072]

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