Nidec divides 22% into an accounting probe

Shares Nidec Corp On Thursday, 22.44%plunged after the company announced a probe of accusations of incorrect accounting in its group.

This means the largest one -day drop in Japanese electronics components.

Kyoto’s company is one of the world’s largest manufacturers or shameless engines used in devices such as hard drives and large engines in electric vehicles and factory robots.

Since the beginning of the year, Nidec shares have fallen by 10.61%. For comparison, 225 with stock Nikkei 225 In the same period, the index increased by 5.12%.

Nidec on Wednesday announced the creation of an independent third committee after the internal investigation of the subsidiary of Nidec Techno Motor, showed data that suggest that the violation of the rules may be related to its leadership.

“Studies have discovered several documents that suggest that in addition to techno, the company and its groups may participate in the wrong account with the participation or knowledge of its management,” the Nident said said regulatory supply.

Last Message Nidec coming after the June detained financial report in June “Potentially erroneous declarations“Reports on the country of origin for making certain engines, which may have led to unpaid import tariffs.

Nidec also operates in several countries including India, China, France, Germany and the United States.

He recently deepened his presence in China with the opening of the Nidec Qingdao Industrial Park in Shandong, where motor and electronic operations are now operating.