Japanese motor maker Nidec will not receive an unqualified audit opinion for its annual securities report by the end of October, as its auditor PwC Japan cannot complete the audit in time. The company faces a listing review.
Nidec faces a listing review and potential difficulties in raising capital after failing to obtain an unqualified audit opinion.
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Japanese motor maker Nidec will not be able to obtain an unqualified audit opinion on its annual securities report by the end of this month, Nikkei has learned. Its auditor PwC Japan has informed the company that it will not be able to complete its audit in time. The company faces a listing review but still intends to submit the required documents.
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