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NIDEC shares surge on the view that negative sentiment has been exhausted following the receipt of the final report from the independent committee
NIDEC CORPORATION <6594> shares rebounded sharply. Following the close of trading on the 17th, the company announced it had received the final report from the independent committee investigating accounting irregularities. Moving forward, NIDEC will promptly revise and implement its improvement plan and status report, while submitting an internal management system confirmation document to the Tokyo Stock Exchange (TSE). Domestic media outlets have also reported that the TSE has decided to demand a listing penalty payment of 91.2 million yen from NIDEC?the maximum amount under current regulations. Despite this record penalty, market sentiment on the 20th suggested that the negative factors have been fully priced in, triggering a resurgence of buying interest in NIDEC shares.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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