Nidec had postponed its annual report submission in June after saying it needed time to conduct an investigation into potential errors in country-of-origin declarations for motors produced at a subsidiary in Italy.
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Nidec’s auditor, PwC Japan, withheld an opinion on the company’s consolidated financial statements for the past financial year ended March 2025, citing insufficient audit evidence.
The Kyoto-based manufacturer of precision motors also vowed to take fresh steps to shore up internal controls, pledging to foster a corporate culture prioritising compliance and to strengthen its global governance.
Reporting by Daniel Leussink Editing by David Goodman and Toby Chopra