Nidec shares sink after auditor withholds opinion on results

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Major Asian stock markets are rising on Thursday morning, with Japanese engine maker Nidec among the companies to blame, with its shares plunging sharply after the company's auditor refused to issue an audit report.

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The leading stock exchanges in Asia are offering rising indices on Thursday morning. At the company level, Japanese engine manufacturer Nidec is in turmoil after the company's auditor refused to issue an opinion.

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Nidec, a major motor manufacturer headquartered in Kyoto, which has been embroiled in accounting and quality control scandals, has announced its financial results for the year ending March of this year. The company reported losses totaling approximately 632.1 billion yen, significantly exceeding initial projections, resulting in a net loss of approximately 564.6 billion yen. Nidec has been found to have engaged in irregularities within its group…

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Nidec, a major motor manufacturer, finally announced its consolidated financial results for the fiscal year ending March 2026 after repeated delays. The results appear to be disastrous, with impairment losses exceeding expectations by 632.1 billion yen, resulting in a record net loss of 564.6 billion yen (compared to a profit of 84.6 billion yen in the previous year).