Nidec Warns of $1.6 Billion Charges From Accounting Scandal (2)

Nidec Corp. may book ¥250 billion ($1.6 billion) in impairment charges as it begins tallying the cost of an accounting scandal that’s forced a leadership exodus and reportedly sparked an investigation from Japan’s securities commission.

Nidec warned there could be additional charges that would impact its past financial results, with third-party investigators saying Tuesday they’ve uncovered at least 1,000 instances of improper accounting. The company hasn’t disclosed a timeline for the release of its revised financial reports.

Scrutiny of Nidec is ramping up. Japan’s Securities and Exchange Surveillance Commission is planning to probe Nidec, including whether additional payments are necessary, ...