Nidec Chairman Resigns Amid Accounting Scandal at Major Japanese Motor Maker

The Yomiuri Shimbun

15:26 JST, February 27, 2026

Leading motor maker Nidec Corp. announced Thursday the resignation of its chairman emeritus, Shigenobu Nagamori, 81.

A third-party committee investigating the company’s inappropriate accounting practices, which were uncovered last year, is expected to compile its findings in the near future. Suspected involvement by Nidec management has been a focal point of the investigation.

“I have decided to resign from the office of Chairman Emeritus as well today to completely retire from Nidec both in name and substance,” Nagamori, who had previously resigned from other posts, said in a statement issued Thursday.

“With my complete confidence, I wish to delegate the entire operation of Nidec’s corporate reform to them [the next generation of employees],” he wrote.

A series of inappropriate accounting practices were discovered last year at multiple subsidiaries of the company, with some documents suggesting management involvement. In October, the Tokyo Stock Exchange designated Nidec as a “security on special alert,” urging the company to improve its internal governance.

Nagamori founded the predecessor company, Nippon Densan Corp., in 1973 and built it into a company with sales exceeding ¥2 trillion in a single generation.

As investigations progressed, Nagamori resigned as representative director and global group representative at the end of last year and assumed the position of chairman emeritus, no longer directly involved in management.