Japan’s securities watchdog has decided to launch a probe into motor maker Nidec Corp following the discovery of accounting irregularities, sources familiar with the matter said Monday.
The Securities and Exchange Surveillance Commission will examine whether the company, listed on the Tokyo Stock Exchange’s Prime Market, made false statements in its securities reports in violation of the financial instruments law, the sources said.
Depending on its findings, the watchdog may recommend that the Financial Services Agency fine Nidec.
Nidec’s earnings report for the business year ended March 2026 has been delayed.
The commission plans to examine relevant documents and interview company officials, while looking into the involvement of founder Shigenobu Nagamori and other executives in the accounting irregularities, the sources said.
The Kyoto-based manufacturer set up a third-party committee in September last year after multiple cases of suspected improper accounting were found within the group.
In a report released in March, the committee found accounting irregularities and said Nagamori was mainly responsible for the misconduct.
© KYODO
