Japan's Nidec CEO Mitsuya Kishida to resign, Nikkei reports

Sept 29 : Japanese motor maker Nidec's president Mitsuya Kishida has decided to step down as CEO, the Nikkei business daily reported on Tuesday, based on information it obtained a day earlier.

Kishida may submit his resignation as early as Tuesday, the report added.

Here are some more details:

• Michio Kaida, the company's chief technology officer, is among the potential successors, but the company is also weighing an appointment from its current directors, the report said.

• Nidec did not immediately respond to a Reuters request for comment.

• The board, largely made up of outside directors, intends to replace Kishida to clarify accountability for the problems facing the company, the report said.

• Nikkei had reported on Monday that Nidec is expected to recognize an impairment loss exceeding 600 billion yen ($3.81 billion) stemming mainly from traction motor systems for electric vehicles.

• The write-downs, including revisions tied to the accounting scandal revealed in June 2025, could total about 1 trillion yen, Nikkei had said.

• The company had anticipated an impairment loss of 250 billion yen in March.

• Nidec plans on Wednesday to file its securities report for the year ended March and announce corrections to financial results for the past five years.

($1 = 157.3800 yen)