# Nidec's new CEO blamed for write-downs

> Nidec's new CEO blames expansion and profit chase for billions in write-downs.
- Title: Nidec's new CEO blamed for write-downs · Nikkei Asia
- Summary: Nidec's new CEO blames expansion and profit chase for billions in write-downs. Nidec's new CEO Michio Kaida says rapid growth and profit focus caused…
- Keywords: nidec, michio kaida, accounting scandal, write-downs, japan, tokyo, news, business, world, Nidec's, CEO, blamed
- Source: Nikkei Asia — https://asia.nikkei.com/business/companies/scandal-hit-nidec-s-new-ceo-long-praised-by-founder-nagamori
- Published: 2026-10-02T20:56:59+00:00
- Read time: 1 min
- Topics: nidec, michio kaida, accounting scandal, write-downs, japan, tokyo, news, business, world
## Nidec's new CEO
Nidec's new president and CEO Michio Kaida rose from a group company to join the Japanese motor maker's top ranks.
## Accounting scandal
Nidec disclosed billions of dollars in impairment losses from an accounting scandal.
## Write-downs blamed on expansion
Nidec's new CEO blames rapid expansion and profit chasing for billions in write-downs.
## Founder praised Kaida
Nidec's founder Nagamori long praised Michio Kaida for his determination.
## Nidec's financial state
Nidec sank to a $3.6bn loss on electronic motor write-downs.
## Key takeaway

Nidec's new CEO Michio Kaida says rapid growth and profit focus caused billions in accounting losses.