Nidec Corporation (NJDCY) Discusses Corporate Reform, Internal Controls and Audit Issues Transcript

Keita Watanabe
Corporate Communications Department Manager

Let us start today’s press conference on Nidec’s status on its corporate reform. Today’s presenters are Mr. Michio Kaida, President and CEO of Nidec Corporation; Mr. Masayuki Minai, Representative Director and Senior Vice President; Mr. Hiroshi Yoshii, outside member of the Board of Directors and a full-time member of Audit and Supervisory Committee of the company; and Mr. Kazuo Nakagawa, Vice President and Acting CFO of the company.

I’m Keita Watanabe of the company’s Corporate Communications Department and the moderator of this press conference. Two of the executives of PwC Japan, which audits Nidec, are with us today. They are Mr. Masataka Kubota as well as Mr. Yoshihisa Chiyoda. They will join us and be introduced later.

In today’s press conference, first, Mr. Kaida will make his opening remarks and a present information on Nidec’s actions on going forward based on the report issued by Executive Responsibility Investigation Committee. Then Mr. Minai will explain the document on company’s submission of it, Written Confirmation of Internal Management System, followed by Mr. Nakagawa’s presentation of auditor’s opinion. Lastly, Mr. Kaida will explain Nidec’s actions going forward. After these presentations, Mr. Kubota as well as Mr. Chiyoda of PwC Japan will join us for a question-and-answer session. Please kindly wait to ask your questions until then.