Nidec Faces Shareholder Request to Sue Directors Over Improper Accounting
Nidec said it received a written request from multiple shareholders to file an action seeking liability and other remedies under Japan’s Companies Act, alleging improper accounting and other matters involving current and former directors. The company has an Executive Responsibility Investigation Committee reviewing potential legal liability of directors, auditors, and executive officers, and will decide whether to pursue claims after the committee’s report.