Nidec weighs damages claims against founder and former executives
The company says an investigation found duty-related violations, with details of the committee report due as early as Tuesday.
Key takeaways
- Nidec is considering legal action against current and former executives, including founder Shigenobu Nagamori.
- A shareholder lawsuit seeks ¥28.7 billion in damages from Nagamori and another person.
Nidec is considering legal action, including damages claims, against current and former executives over accounting irregularities that came to light last year. The company said it concluded the executives violated laws and regulations while performing their duties.
The decision followed a report submitted Friday by a committee investigating the executives’ legal responsibility. Nidec said it would disclose details as early as Tuesday.
Those who could face action include founder Shigenobu Nagamori and former presidents Hiroyuki Yoshimoto, Jun Seki, Hiroshi Kobe and Mitsuya Kishida. Incumbent executive Kazuya Murakami is also among those named.
A shareholder derivative lawsuit has separately been filed against Nagamori and another person, seeking ¥28.7 billion in damages. Shareholders have also asked Nidec to sue current and former executives.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
