Nidec, the motor maker formerly known as Nippon Densan, said on the 13th that it is postponing an extraordinary shareholders meeting it had planned to hold within the year, because its audit of fiscal 2025 accounts has run long and reporting results to shareholders has become difficult, the Asahi Shimbun reported.
The meeting had been contingent on the company receiving an unqualified opinion — the auditor's sign-off that the accounts are sound — from its accounting firm. Additional work the auditor requested is not finished, and the company cannot yet see when the audit will end.
At the ordinary shareholders meeting in June, corrections tied to a series of accounting irregularities were not ready in time, and the earnings report was carried over to a later date. In September the company set a record date of September 30 for an extraordinary meeting, to be held within three months of it.
The meeting was also to put to a vote a proposal to appoint President Michio Kaida, who took office in September, as a director.
With its accounts still not settled, the company remains in a position where keeping its listing is in doubt.