Improving Our Internal Management System, Etc.

First and foremost, we deeply apologize to our shareholders, investors, business partners, and other stakeholders for causing tremendous inconvenience and concerns.

Questions arose about inappropriate accounting transactions at Nidec Corporation and other Nidec Group companies. We took this matter with the utmost seriousness, and requested a third-party committee (the “Third-party Committee”) for a comprehensive investigation and to identify the causes of the issues.

The aforementioned matter caused us to postpone the announcement of the Nidec Group’s financial performance for the first and second quarters of the fiscal year ending March 2026, and to make a significant downward revision of our financial performance for the first quarter of the same fiscal year. In addition, with respect to our securities report for the fiscal year ended March 2025, we received from our accounting auditor an audit report with a disclaimer of opinion, and the Tokyo Stock Exchange placed our company’s stock on special alert on October 28.

To express our strong determination to address this series of governance issues and reform ourselves as a company, we launched a Nidec Corporate Reform Committee on October 30.

Determined to achieve a true reform, we will launch a group-wide and global reform to defy all outdated customs and clean up our organizations for us to be reborn as a new Nidec. We hereby promise you to involve all of our executives and other employees in this reform to regain your trust as expeditiously as possible.