Nidec, a Japanese electric motor manufacturer, has filed a lawsuit against several former executives, including company founder Shigenobu Nagamori, following a committee report that found Nagamori fostered a corporate culture leading to accounting irregularities. The report highlighted that Nagamori delayed reporting losses and improperly reflected financial results, resulting in losses being deferred. Nidec's decision to file a lawsuit against former executives underscores the company's commitment to holding those responsible accountable for any wrongdoing.
TOKYO, Oct 27 : Japanese electric motor maker Nidec said on Tuesday it has decided to file a lawsuit for damages against several former executives including company founder Shigenobu Nagamori.
A committee report looking into Nidec's accounting irregularities said this month Nagamori fostered a corporate culture that led to losses being deferred and improperly reflected in financial results.
Source: Reuters
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