Kishida Resigns as Nidec President

Kyoto, Sept. 29 (Jiji Press)--Nidec Corp. President and CEO Mitsuya Kishida, 66, resigned Tuesday, the major Japanese motor manufacturer said.

In a press release, the company said that Kishida had "made statements or engaged in conduct...that could not necessarily be regarded as appropriate" during the process of the company revising its financial results for the years up until fiscal 2025, which ended this March.

Nidec is currently embroiled in accounting and quality irregularities.

At an extraordinary board meeting Tuesday, the company appointed First Senior Vice President Michio Kaida, 70, who serves as vice chair of a committee working on Nidec's revitalization, to succeed Kishida as president and CEO.

After graduating from Kansai University, Kaida joined Lead Electronics Co., currently Nidec Advance Technology Corp., in 1979. He became Nidec's first senior vice president in April 2024.

[Copyright The Jiji Press, Ltd.]