Nidec (TYO:6594) recorded extraordinary losses of 330.9 billion yen and extraordinary gains of 54.3 billion yen in non-consolidated results for the fiscal year ended March 31, according to a Tokyo bourse filing Wednesday.
The losses stem from accounting misconduct confirmed by a third-party committee, including deferred inventory write-downs, avoided fixed-asset impairments, and improperly capitalized expenditures.
The largest extraordinary losses were 183.5 billion yen on valuation of affiliated-company shares, 56.3 billion yen on extinguishment of tie-in shares, and 30.5 billion yen for special investigations and related expenses.
Meanwhile, the extraordinary gains mainly comprised 34.2 billion yen from reversal of allowance for business loss of affiliates and 20 billion yen from reversal of allowance for doubtful accounts for affiliates.
In a separate disclosure, Nidec recorded additional impairment losses on non-financial assets, provisions for loss of contract, liabilities related to supplier settlement claims, and new special investigation expenses.
These include total impairment losses of 632.1 billion yen across six segments, with the largest being 298.8 billion yen in the ACIM segment and 189.7 billion yen in the Group Company Business segment, as well as 22.5 billion yen in provisions for loss of contract in the AMEC segment.
Nidec also recorded 4.21 billion yen in indemnification liabilities related to supplier settlement claims in the MOEN segment and 30.5 billion yen in special investigation and related expenses.