Japan's Nidec likely to miss month-end deadline on audit, Nikkei says
Japan's Nidec may fail to receive an auditor's opinion on its securities report by the end of the month, according to Nikkei business daily. The electric motor manufacturer submitted internal control documents to the Tokyo Stock Exchange without the necessary auditor's opinion from PwC Japan, in an effort to maintain its listing status.
Nidec announced on Tuesday its decision to sue founder Shigenobu Nagamori and eight other former executives for damages due to alleged accounting irregularities that have jeopardized its stock market listing.
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- Japan's Nidec likely to miss audit opinion by month-end, Nikkei says channelnewsasia.com
