Nidec CEO to Resign After EV Unit Losses, Accounting Irregularities

Nidec CEO Mitsuya Kishida is stepping down following expected impairment losses in the hundreds of billions of yen from its EV systems unit, far exceeding prior estimates, and amid accounting irregularities. The board, dominated by external directors, seeks to clarify managerial responsibility. This signals a major corporate governance shakeup and potential financial restatement, impacting investor confidence in Nidec's EV strategy.