Key facts
- MUFG Bank and Sumitomo Mitsui Banking Corp. will renew 600 billion yen ($3.8 billion) in commitment lines with Nidec, Nikkei reported.
- The banks deemed Nidec's businesses essential, according to the report.
- The renewed agreements will run for one year, until November 2027.
- Nidec was designated a "security on special alert" by the Tokyo Stock Exchange in 2025 and could still lose its listing.
MUFG Bank and Sumitomo Mitsui Banking Corp. will renew 600 billion yen ($3.8 billion) in commitment line agreements with Nidec, Nikkei reported on November 4, 2026, citing unnamed sources. The renewal is intended to help stabilize the electric motor maker's cash flow following an accounting scandal.
The banks deemed Nidec's businesses essential, according to the report. The new agreements will run for one year, until November 2027.
Nidec was designated a "security on special alert" by the Tokyo Stock Exchange in 2025 and could still lose its listing. The company's president said he would resign following large losses, with outside directors leading a management overhaul, on September 29, 2026. Its audit firm issued a disclaimer of opinion on its annual securities report for the fiscal year ended March 2026 on September 30, 2026. Nidec submitted a confirmation letter on internal controls to the Tokyo Stock Exchange on October 15, 2026, missing a deadline for a clean opinion.