Nidec Delays Results Again, Vows Culture Reform After Crisis (1)

Nidec Corp. delayed the release of its quarterly results and pledged to overhaul the company’s growth-at-all-costs culture in the wake of an accounting scandal that’s seen its debt rating cut to junk and put it at risk of delisting.

The company said Wednesday it hasn’t determined when it will release third-quarter results and it’s also unclear if past accounts will need to be corrected. A third-party probe into accounting irregularities is ongoing, with preliminary results expected to be submitted around the end of February, and a final calculation on the monetary impact of the crisis to follow, Nidec said.

Nidec ...