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Story summary
- A committee ruled founder Shigenobu Nagamori civilly liable for accounting fraud, triggering a share plunge.
- Shares fell 2.8% in early Tokyo trading, lowering market value to ¥2.1 trillion, the lowest since 2016.
- PwC Japan withheld its audit opinion, saying it lacked sufficient evidence.
- Nidec must file a revised report by Oct. 28 to avoid a delisting notice.
- Oasis Management raised its stake to 9%, becoming Nidec’s largest disclosed shareholder ahead of Nagamori.