Nidec plans to seek damages from nine former directors and officers, including founder Shigenobu Nagamori, after a committee concluded they bore liability for damages tied to the company’s accounting misconduct and listed ¥27.63 billion in costs.
The company said Oct. 27 it has not filed the case. It plans to examine the compensation amounts it will request and file once ready, without giving a filing date or a claim amount.
The former directors named are Nagamori, Hiroshi Kobe, Akira Sato, Hiroyuki Yoshimoto, Jun Seki and Mitsuya Kishida. Nidec also identified former corporate auditors Kazuya Murakami and Hiroyuki Ochiai, along with an unnamed former vice president who served as chief financial officer from May 2022 to March 2026.
The committee said a court should determine each person’s share of damages based on their contribution. Its report lists ¥22,207,198,462 in investigation costs, ¥5,335,082,399 in audit costs and ¥91,200,000 in Tokyo Stock Exchange listing agreement violation penalties incurred from August 2025 through August 2026. The total is ¥27,633,480,861; those costs do not establish how much Nidec will claim.
The report linked the accounting decisions to efforts to address legacy liabilities, including Nidec’s Asset Revitalization Project, launched in 2016, and a structural reform effort discussed from late 2022. It said the company delayed accounting treatment when it could conflict with operating profit targets. The committee’s report described the policy as allowing treatment “only to the extent consistent with achieving performance targets (operating profit).”
Nidec received the committee’s report on Oct. 16 and released it on Oct. 20. The company’s Oct. 27 announcement said it would pursue damages after reviewing the amounts it intends to seek.
The committee left past appropriations of surplus outside its investigation, citing missing amended securities reports and uncertainty about historical distributable amounts. Nidec said it would revisit possible legal action on that issue after correcting past financial statements.
