PwC Japan, the audit firm handling Nidec's audit, said on the 1st that it declined to express an audit opinion on the company's consolidated financial statements because it was unable to obtain sufficient and appropriate audit evidence and judged the impact to be pervasive. The firm indicated it intends to continue discussions with Nidec, saying it wants to fulfill its responsibility to ultimately issue an audit opinion, but did not specify a timeframe. The explanation was given alongside Nidec's press conference. Nidec announced on September 30 that it will record an impairment loss of 632.135 billion yen on non-financial assets in its operating profit and loss for the fiscal year ending March 2026, and as a result, its net loss for the period is expected to be 564.6 billion yen, a reversal from the previous year's 84.6 billion yen profit. PwC Japan issued a disclaimer of opinion on these financial results.
Nidec CorporationNidec will record a 632.135 billion yen impairment and expects a 564.6 billion yen net loss for FY ending March 2026.
PwC Japan is the auditor that declined to express an opinion; the article reports its action but no clear directional impact on the firm itself.
