Sept 29 : Japanese motor maker Nidec's president Mitsuya Kishida has decided to step down as CEO, the Nikkei business daily reported on Tuesday, based on information it obtained a day earlier.
Kishida may submit his resignation as early as Tuesday, the report added.
Here are some more details:
• Michio Kaida, the company's chief technology officer, is among the potential successors, but the company is also weighing an appointment from its current directors, the report said.
Guess WordCrack the word, one row at a timeBuzzwordCreate words using the given lettersMini SudokuTiny puzzle, mighty brain teaserMini CrosswordSmall grid, big challengeWord SearchSpot as many words as you can Show More Show Less• Nidec did not immediately respond to a Reuters request for comment.
• The board, largely made up of outside directors, intends to replace Kishida to clarify accountability for the problems facing the company, the report said.
• Nikkei had reported on Monday that Nidec is expected to recognize an impairment loss exceeding 600 billion yen ($3.81 billion) stemming mainly from traction motor systems for electric vehicles.
• The write-downs, including revisions tied to the accounting scandal revealed in June 2025, could total about 1 trillion yen, Nikkei had said.
• The company had anticipated an impairment loss of 250 billion yen in March.
• Nidec plans on Wednesday to file its securities report for the year ended March and announce corrections to financial results for the past five years.
($1 = 157.3800 yen)