KYOTO \u2013 Nidec President Mitsuya Kishida has said the major Japanese motor maker will suspend business acquisitions for the time being to focus its efforts on reconstructing the firm rocked by accounting and product quality fraud.<\/p>\n
Business acquisitions have been a growth driver for Nidec, based in Kyoto.<\/p>\n
\u201cI will work on rebuilding our company\u2019s governance system,\u201d Kishida said in an interview Friday, showing a plan to spend \u00a5130 billion over five years on measures to prevent irregularities.<\/p>\n
A panel of outside experts that investigated the accounting fraud has concluded that excessive pressure from Nidec\u2019s founder, Shigenobu Nagamori, on company staff to meet performance targets was among the factors behind the irregularities.<\/p>\n
Pointing out that Nidec had \u201ca corporate culture to pursue short-term profits,\u201d Kishida said, \u201cWe will build a system that makes it impossible to commit irregularities regarding accounting and product quality control.\u201d<\/p>\n
On future business management, he said, \u201cWe will review our operations, including the possibility of ceding what we have in our group to partner entities,\u201d suggesting that consolidating some of its existing operations could be an option.<\/p>\n
At the same time, Kishida said, \u201cIf we could regain trust, we want to consider strategies such as conducting business acquisitions in new sectors.\u201d<\/p>\n
The president said that Nidec may put its efforts into data centers and humanoid robots, noting that artificial intelligence-related areas are expected to \u201cgrow tremendously.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"KYOTO \u2013 Nidec President Mitsuya Kishida has said the major Japanese motor maker will suspend business acquisitions for…\n","protected":false},"author":2,"featured_media":32206,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[8,4787,33,5217],"class_list":["post-32205","post","type-post","status-publish","format-standard","has-post-thumbnail","category-japan","tag-japan","tag-nidec","tag-nihon","tag-scandals"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/32205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/comments?post=32205"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/32205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media\/32206"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media?parent=32205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/categories?post=32205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/tags?post=32205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}