Japanese motor maker facing delisting pressure amid recent writedown concerns
State and federal records show a pattern of environmental and safety violations at Nippon Dynawave Packaging in Longview, WA, ahead of a deadly tank failure that released caustic liquid. Investigations are ongoing as workers seek accountability and safety reforms.
Nidec has reported significant writedowns and accounting irregularities, sending its bonds and shares lower amid leadership shake-ups and a delayed filing. PwC Japan has refused to sign off on its statements, prompting questions about the company’s financial stability and future reporting.
Nidec Corp. has published a redacted report that deepens a crisis surrounding chairman Shigenobu Nagamori and the company’s governance. The findings prompt a review of privatization options and pose questions about internal controls as the company seeks auditor approval and market confidence. New CEO Michio Kaida faces pressure to restructure loss-making units while defending against activist scrutiny.