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Nidec ( (JP:6594) ) has shared an announcement.
Nidec Corporation has announced an application for an extension to submit its securities report due to ongoing investigations into customs issues involving its Italian subsidiary, FIR. The investigation revealed that FIR incorrectly declared the country of origin for oven motors shipped to the U.S., which should have been China, leading to unpaid tariffs. The company is taking corrective actions and has commissioned further external investigations to ensure compliance, impacting its operational transparency and potentially affecting stakeholder trust.
The most recent analyst rating on (JP:6594) stock is a Buy with a Yen4500.00 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 industry, focusing on the production and distribution of motors and related products. The company is involved in various market segments, including the automotive sector, and has a global presence with subsidiaries such as NIDEC FIR INTERNATIONAL S.R.L. in Italy.
Average Trading Volume: 4,743,990
Technical Sentiment Signal: Sell
Current Market Cap: Yen3446.8B
For an in-depth examination of 6594 stock, go to TipRanks’ Overview page.