Nidec's Kishida to step down as CEO after board move to oust him
Nikkei reports Mitsuya Kishida plans to resign as early as Tuesday, with Michio Kaida named as a possible successor.
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Nidec President Mitsuya Kishida, 66, has decided to step down as chief executive and is expected to submit his resignation as early as Tuesday, Nikkei reports. Michio Kaida is seen as a potential successor, according to the same report.
The move follows a decision by Nidec's board in late September to force Kishida out. Diamond Online reported that the board, at an extraordinary meeting held the previous Friday, voted to dismiss him, and that the company plans to report an impairment loss of about ¥1 trillion for fiscal 2025, retroactively booked in the year ended March 2026. Diamond did not disclose how it obtained the information.
Jiji Press has linked the leadership shake-up to accounting and quality scandals, including an accounting issue that first came to light in September of the prior year.