Nidec (OTCMKTS:NJDCY) Stock Price Down 22.2% - Here's Why
11 Articles
11 Articles
Nidec reversed the result and had a significant annual net loss, pressured by a low accounting of $4 billion in its auto parts division and other business units. Exclusive material for subscribers. To have full access, access the link of the material and register.
Covert losses, lack of quality controls and a bold bet on e-cars cost the supplier Nidec billions. Now the next boss has to go.
Nidec Shares Fall 18% on Reported $6.3 Billion Impairment Charge
Nidec Corp. tumbled as much as 18% in Tokyo trading after a magazine reported the scandal-plagued Japanese maker of motors will book a charge of about ¥1 trillion ($6.3 billion), which would wipe out practically all the profit the company had made in the past decade.
It has been revealed that Nidec Corporation (formerly Nidec), a major motor manufacturer, is considering replacing its executives, including President Mitsuya Kishida. A series of irregularities concerning accounting and product quality have come to light. These include the correction of inflated profits and the resulting loss amounts that must be recorded…
Nidec shares plunge18% following reported ¥1T impairment,CEO dismissal
Nidec (NJDCY) shares plummeted as much as 18% to ¥2,405.0 on Monday, as Bloomberg and other major outlets reported on a release by Japanese business publication Diamond Online stating the company is considering a ¥1T ($6.3B) impairment charge,
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
