KYOTO, Japan, Oct. 24, 2022 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594) (OTC US: NJDCY) (“Nidec” or the “Company”) today announced that Toyo Keizai Online published an article on October 24, 2022, which, according to its article of October 7, 2022, expresses doubts that Nidec carries out inappropriate processing when acquiring its own shares.

After receiving an inquiry letter from Toyo Keizai Inc. regarding the matter in question on October 20, 2022, the company replied on the same day that the claim was based on an error. The latest report from Toyo Keizai Inc. is not based on the answer.

We do not accept Toyo Keizai Inc.’s repeated reporting defaming Nidec’s honor and the Company is preparing legal action, including a lawsuit, against Toyo Keizai Inc.

Nidec will promptly provide any new information for public release regarding the above matter.

Contact:
Masahiro Nagayasu
general manager
Investor Relations
+81-75-935-6140
[email protected]