Nidec has decided to sue former officers for damages, but the company says it has not yet filed. In a notice dated October 27, 2026, it said it would bring the suit once it has settled the amount claimed from each person and finished preparing the case. It promised to disclose the filing promptly.
The decision follows the report of Nidec's officer liability investigation committee, which the company said it received on October 16. After weighing whether to sue current and former officers on the basis of that report, Nidec chose to pursue only former officers. The company's earlier disclosure of the report is covered in Earlier Tokyo Brief coverage.
Who is targeted, and on what basis
The notice names three groups:
- Six former directors face claims under Article 423, paragraph 1, of the Companies Act, the provision on officers' liability to the company.
- Two former statutory auditors face claims under the same article. One of them resigned on October 16 as an executive officer and chief legal officer.
- One former executive officer, who was Nidec's CFO from May 2022 to March 2026, faces a claim under Articles 644 and 415, paragraph 1, of the Civil Code, or under the company's executive officer regulations.
Nidec said it has also decided to hire as litigation counsel three lawyers who served as members or assistants on the investigation committee.
What is still open
The notice gives no claim amounts. Nidec said it will examine the sum sought from each person. The notice records a decision to file, not a filing.
A second strand is deferred. The committee's report treated the disposal of surplus as outside its scope. Corrected securities reports for past years had not been filed by the time of the report, so the past distributable amount that would need to be examined remained uncertain, and the committee found it difficult to address.
Nidec said it will consider lawsuits and other legal steps over that liability after it finishes correcting its past-year financial statements, and will act promptly then. The notice sets no date for the corrections. The restatement therefore gates this part of the case, while the damages suit already decided on proceeds once claim amounts are fixed.