In Tokyo stock trading on the 1st, Nidec's share price fell sharply by 255 yen from the previous day to 2,100 yen. After the company announced its earnings the previous day, its auditing firm issued a disclaimer of opinion on its financial statements, prompting a flood of selling on fears of delisting. At one point the stock dropped 467 yen to 1,888 yen, hitting a year-to-date low. This marks the second consecutive period with a disclaimer of audit opinion, reportedly because some executives and employees involved in misconduct are still responsible for the company's financial reporting. A market participant said the situation "instilled in investors a distrust of the company's governance itself."
Nidec CorporationAuditor issued a disclaimer of opinion on Nidec's financial statements for a second consecutive period, raising delisting fears and governance distrust.
