Nidec says it will file legal action against former executives and its founder in connection with accounting issues. Japan Times reports the company plans to sue Shigenobu Nagamori as well as former chairman Hiroshi Kobe and former chief executives Mitsuya Kishida and Jun Seki. Channel NewsAsia also says Nidec will pursue a damage suit against former executives.
The Financial Times frames the matter as tied to Japan’s biggest accounting fraud in about a decade, and says Nidec’s decision follows a report indicating Nagamori should bear liability. It also reports that the profit inflation involved amounts estimated at $1bn over multiple years, according to that coverage.
Across outlets, the core point that Nidec is pursuing lawsuits over alleged accounting misconduct is consistent, but the emphasis differs between who is named and the scale and characterization of the case.
