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Nidec hits daily limit down on report of suspected quality data misconduct in motor parts
Nidec <6594> plunged to its limit-down of 2,329 yen on Wednesday following reports of widespread quality misconduct. The Nikkei reported late Tuesday that more than 1,000 instances of suspected misconduct?including unauthorized design changes and falsification of inspection data?had emerged at the manufacturer. Nidec confirmed in a statement before the market open that inappropriate conduct occurred, such as changes to materials and processes without customer consent. Heavy selling followed on fears of operational fallout, even as Nidec stated that no safety or functionality issues have been confirmed. The company is expected to announce remedial measures later today.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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