Nidec Announces Receipt of Notification of Litigation on Derivative Action

KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (“Nidec,” the “Company,” or “we”) announced today that it has received a notification of litigation that an individual shareholder of the Company has instituted a derivative action on September 09, 2026, against two former members of its board of directors with the Kyoto District Court, as described below.

1. Plaintiff

An individual shareholder of Nidec

2. Defendants

Shigenobu Nagamori and Hiroshi Kobe (former members of the Company’s board of directors)

3. Summary of the litigation

The plaintiff claims that the cases below were illegal acquisitions of treasury shares or dividend that exceed their distributable amounts calculated based on the Companies Act and the Corporate Accounting Rules, and demands that the defendants and others pay the Company 28,730,558,300 yen and delinquent charges thereto pursuant to Article 462, paragraph 1 of the Companies Act.

(1) The acquisition of treasury shares in September 2022
(2) The acquisition of treasury shares in February – March 2023
(3) The midterm dividend in December 2022

4. Public notice

Nidec plans to issue the following public notice:
“Pursuant to Article 849, paragraph 5 of the Companies Act, Nidec Corporation (the “Company”) hereby announces that one of its shareholders has instituted a derivative action against two former members of its board of directors with the Kyoto District Court (No. 1749, 2026 (wa)), and that the Company received a notification of the litigation on September 09, 2026.”

5. The litigation’s impact on the Company’s business performance

Nidec believes that this litigation, in which a shareholder of the Company demands compensation pursuant to Article 462, paragraph 1 of the Companies Act to former members of the Company’s board of directors as individuals, will not affect its business performance. Nonetheless, we will promptly announce any matter to be disclosed when it emerges.

6. Going forward

As announced in the press release, “Notice Regarding the Establishment of the Executive Responsibility Investigation Committee” dated March 13, 2026, we established an Executive Responsibility Investigation Committee for the series of the Nidec Group’s suspected inappropriate accounting practices to examine the possible legal liability of the current or former members of the Company’s board of directors, auditors, or vice presidents, including liability in default in the execution of their duties. We will examine measures for this litigation based on the Executive Responsibility Investigation Committee’s reports and recommendations.