Key facts
- Oasis Management is Nidec's largest single shareholder with a 9% stake.
- Nidec reported a historic loss for the last fiscal year.
- Oasis Management urged Nidec to consider putting itself on the auction block.
Oasis Management is considering calling an extraordinary shareholder meeting at Nidec, the Japanese motor maker, as the activist investor seeks to revamp the company's oversight. Nidec last month reported a historic loss for the fiscal year amid a massive accounting scandal. Oasis, Nidec's largest single shareholder with a 9% stake, is pushing for stronger governance and measures to unlock value. Probes have uncovered widespread fraud in Nidec's accounting and quality control at subsidiaries in Italy, Switzerland and China, as well as in its car inverter business. Oasis has also urged Nidec to consider putting itself on the auction block and to solicit proposals from strategic buyers and private equity firms.