Overview
- Nidec was designated a security on special alert, with about one year to fix governance issues or risk delisting, and will be removed from Topix on November 4 and the Nikkei 225 on November 5, with Ibiden set to replace it in the Nikkei.
- The stock fell by its daily 500-yen limit to 2,070.50 yen, marking the lowest level since April after the exchange's actions.
- An independent committee is investigating suspected improper accounting at a Chinese subsidiary tied to a roughly 10 million yuan payment to an unidentified supplier.
- PwC Japan withheld an audit opinion due to insufficient evidence and the exchange said the probe’s outcome could require corrections to past financial statements.
- Nidec withdrew its fiscal-year forecast, suspended its interim dividend, and canceled a buyback, while analysts warn index deletions could force selling and increase the stock’s real float.