Nidec plans damages suit against founder and eight others

Founder Shigenobu Nagamori and eight others are the targets of a planned damages suit over suspected improper accounting, according to Kyodo’s report published by Nikkei Asia. Nidec tied its decision to an executive liability committee report and said it will determine the amount after correcting past financial statements. Reuters separately reported that a committee report linked a corporate culture fostered by Nagamori to deferred losses.