Nidec shares slide 17% after report of ~¥1 trillion accounting charge; board said to oust president Kishida

Nidec shares fell 17% after a report that the scandal-embroiled Japanese motor maker will book a charge of about ¥1 trillion ($6.3 billion) related to accounting issues, Bloomberg Business reports. The board has reportedly decided to remove President Kishida, with a successor announcement expected as soon as Sept 29. Nidec said the management change and large impairment are under consideration but no decision has been made.

Detected & updated continuously · Source: Nebula