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Nidec ( (JP:6594) ) just unveiled an update.
Nidec Corporation has identified a material weakness in its internal control over financial reporting, specifically related to trade transactions at its subsidiary, NIDEC FIR INTERNATIONAL S.R.L. in Italy. This weakness has led to erroneous declarations of country of origin for certain motors, resulting in unpaid tariffs and delayed financial reporting. The company is implementing corrective measures to strengthen compliance and internal controls, which could have significant implications for its financial statements and stakeholder trust.
The most recent analyst rating on (JP:6594) stock is a Buy with a Yen3300.00 price target. To see the full list of analyst forecasts on Nidec stock, see the JP:6594 Stock Forecast page.
More about Nidec
Nidec Corporation operates in the appliance, commercial, and industrial motors sector, focusing on manufacturing and distributing motors and related products. The company is known for its global presence and commitment to innovation in motor technology.
Average Trading Volume: 7,383,203
Technical Sentiment Signal: Strong Sell
Current Market Cap: Yen3121.8B
Learn more about 6594 stock on TipRanks’ Stock Analysis page.