Hong Kong Fund Urges Embattled Nidec to Consider Going Private
Kyoto, Oct. 8 (Jiji Press)--Hong Kong-based investment fund Oasis Management has urged scandal-hit Japanese motor manufacturer Nidec Corp. to consider going private. In a statement released Wednesday, Oasis said that Nidec's board of directors "must confront the risk of an unintended delisting" and urged the company, based in the city of Kyoto, western Japan, to "develop concrete options" to...
Kyoto, Oct. 8 - Hong Kong-based investment firm Oasis Management has urged scandal-plagued Japanese motor company Nidec to explore going private. In a statement on Wednesday, Oasis highlighted the board's need to address the risk of delisting and directed the company to explore concrete options to safeguard employees, customers, and shareholders.
The investment firm, which owned 7.97% of Nidec shares as of Sept. 16, specifically called for the company's outside directors to hire financial advisers and seek preliminary proposals for a private buyout from strategic buyers and private equity firms in Japan and abroad. With massive accounting fraud revealed in September 2025, Nidec now faces the threat of removal from the Tokyo Stock Exchange due to an audit firm's disclaimer on its fiscal year 2026 report.
In May, reports emerged of product quality misconduct at Nidec. Oasis expressed shock and deep disappointment over the unfinished remedial actions.
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