Nidec Corp identifies material weakness in internal control over FY2023 financial reporting, leading to inflated sales.
Nidec Corp discloses a material weakness in internal control over financial reporting for FY2023, leading to inflated sales. The issue was identified at Nidec Drive Technology due to incorrect data in the adjustment process. Corrections have been made, and audit opinions remain unqualified. The company will review and update policies, enhance monitoring functions, and hold lectures on verification and approval processes. Amendments have been made to previous financial statements and securities reports.
May 24, 2024
4 Articles