Nidec Founder and Executives Face Accountability for Accounting Fraud

• Nidec founder Shigenobu Nagamori neglected his duties by failing to inform the board of an accounting probe in 2017.
• An independent committee concluded that Nagamori and other executives violated laws and regulations.
• Nidec announced it will seek damages from the founder and implicated executives.
• The company's board concluded that the executives' actions constituted a breach of their duties.
• Nidec, a motor manufacturer, is taking legal action against its founder and executives for accounting fraud.