TOKYO (dpa-AFX) - Wednesday, Nidec Corporation (NIB.F) announced that it has recorded extraordinary losses of 330.9 billion yen and extraordinary gains of 54.3 billion yen in its non-consolidated financial results for the fiscal year ended March 31, 2026.
This comes as the company's investigation reports confirmed numerous instances of accounting misconduct across multiple locations within the Company's group, including the deferral of inventory valuation losses, the avoidance of impairment losses on fixed assets, and the capitalization of expenditures that should have been expensed.
The special investigation and related expenses have been reflected in the Annual Securities Report for the Fiscal Year Ended March 31, 2026, and the Financial Statements Summary for the Year ended March 31, 2026.
Nidec's stock was trading at 13.08 euros, up 4.79 percent on the Frankfurt Exchange.
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