Nidec expects $1.6 billion in charges from accounting scandal

Nidec anticipates $1.6 billion in charges due to an accounting scandal, impacting past financial results. The precision motor manufacturer is tallying costs from the scandal, which has led to leadership changes and reportedly triggered a securities commission investigation. Investigators found over 1,000 instances of improper accounting. The Securities and Exchange Surveillance Commission is reportedly planning to probe Nidec, with potential for criminal prosecution depending on findings. A timeline for revised financial reports has not been disclosed.