Market Chatter: Nidec CEO Says Data Center Business Lifts Performance Despite Quality, Accounting Woes

MT Newswires Live05-22 09:35

Nidec (TYO:6594) is getting a strong lift from its data-center business, particularly emergency power products, despite grappling with quality and accounting issues, Bloomberg News reported Friday, citing CEO Mitsuya Kishida.

The Kyoto-based company is running at full capacity to meet demand and is pushing forward with factory construction in the U.S., China, and India, the news wire said.

Nidec shares took a hit earlier this month after it revealed unauthorized changes to product materials and designs, though most losses have since been recovered, the publication said.

Despite challenges like accounting irregularities and the founder's departure, Kishida said the investigation is on track, no immediate safety or functionality risks have been found, and restoring trust remains the top priority, the report said.

The company faces heightened pressure as its stock has been removed from key indexes, and the Tokyo Stock Exchange has warned of possible delisting if internal management does not improve, it added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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