Nidec CEO steps down, 2025/26 earnings due on Sept. 30
September 30, 2026 at 07:10 JST
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Mitsuya Kishida, president and CEO of Nidec Corp., at a news conference in Tokyo’s Chiyoda Ward on May 13 (Asahi Shimbun file photo)
Japanese motor maker Nidec Corp., rocked by an accounting scandal, said President and Chief Executive Mitsuya Kishida stepped down on Tuesday and that Chief Technology Officer Michio Kaida has assumed the additional roles of president and CEO.
Nidec, one of the world’s largest makers of precision motors and a supplier to global automakers, is grappling with a deepening accounting scandal that led to the departure of its founder and other senior executives.
“It was confirmed that Mr. Kishida had, on certain occasions, made statements or engaged in conduct in relation to financial reporting that could not necessarily be regarded as appropriate,” the company said in a statement.
Kishida did not immediately respond to a request for comment sent
Nidec said it plans to announce results for the financial year that ended March 31 on Wednesday.
Nikkei reported on Monday that Nidec is expected to recognize an impairment loss exceeding 600 billion yen ($3.8 billion), stemming mainly from traction motor systems for electric vehicles.
The write-downs, including revisions tied to the accounting scandal revealed in June 2025, could total about 1 trillion yen, the Nikkei said.
Nidec declined to confirm the Nikkei’s figures, saying details would be made available in Wednesday’s earnings announcement.
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