Nidec (6594) Nikkei reports suspected quality tampering involving motor components and other products

研报英文原文证据摘录

Nidec (6594) Nikkei reports suspected quality tampering involving motor components and other products

J P M O R G A N Asia Pacific Equity Research

13 May 2026

Nidec (6594) Underweight

6594.T, 6594 JP

Nikkei reports suspected quality tampering involving Price (12 May 26):¥2,829

motor components and other products Price Target (Dec-26):¥1,800

• Nikkei report: The Nikkei online edition reported on May 12 that Nidec is Japan Equity Research

suspected of more than 1,000 cases of quality tampering involving motor

Technology - Electronic

components and other products, including unauthorized design changes and Components

falsification of inspection data. It reported that the company will form on May AC Akinori Kanemoto

13 an investigative committee led by external lawyers to uncover the full scope

(81-3) 6736 8628

of the problem by end-August. The Nikkei noted that intense pressure to akinori.kanemoto@jpmorgan.com

deliver results from former top executives, including founder Shigenobu Ikki Shibata

Nagamori, may have led to quality tampering aimed at meeting delivery (81-3) 6736 8641

deadlines and cutting costs. Specifically, the report noted that (1) suspected ikki.shibata@jpmorgan.com

quality issues have surfaced at the company itself, including its appliance and JPMorgan Securities Japan Co., Ltd.

industrial products division, and problems have occurred repeatedly at

subsidiaries such as Nidec Technomotor and Nidec Instruments; and (2) about

97% of the cases discovered in the internal probe involved updating molds or

changing manufacturing process designs without customer approval. The

remaining 3% involve suspected falsification of test and inspection data, as

well as mislabeling of production locations, according to the report.