Nidec (TSE: 6594, ADR: NJDCY) is the world's largest maker of small precision motors and one of the few big industrials that markets gearboxes and motor packages specifically for humanoid robots. But anyone looking at Nidec as a robot stock first has to deal with something bigger: an accounting scandal that produced a JPY 565 billion net loss, two years of disclaimed audit opinions and a Tokyo Stock Exchange special-alert designation that could end in delisting. This page, part of our Optimus stocks hub, starts with governance, because for Nidec that is the investment case right now.
- Tickers: 6594 (Tokyo Prime); NJDCY ADR over the counter in the US.
- FY to Mar 2026: sales JPY 2.71T (+3.9%), net loss JPY 564.6B, no dividend.
- Audit: auditor disclaimed an opinion again; statements filed Sep 30, 2026.
- Listing: TSE special alert since Oct 28, 2025; new CEO Michio Kaida vows to stay listed.
- Robots: humanoid gearboxes and motor packages; no confirmed Optimus contract.
Nidec Stock Snapshot
| Item | Detail |
|---|---|
| Main listing | 6594 · Tokyo Stock Exchange Prime |
| US | NJDCY (ADR, OTC) |
| Fiscal year | April to March |
| TSE status | Securities on Special Alert (since Oct 28, 2025) |
| Last audit opinion | Disclaimer of opinion (FY to Mar 2025 and FY to Mar 2026) |
| President and CEO | Michio Kaida (since late September 2026) |
| Dividend | None for FY to Mar 2026 |
Status details from Nidec's own disclosures and Jiji Press. We have not been able to verify a current share price, so check a live quote before trading; the stock has been highly sensitive to each audit and TSE update.
What Went Wrong at Nidec
- 2025Nidec discloses possible improper accounting at group companies; results are repeatedly delayed.
- Oct 28, 2025TSE designates Nidec shares Securities on Special Alert.
- Nov 2025Auditor PwC disclaims an opinion on the FY to March 2025 statements.
- Dec 2025Founder Shigenobu Nagamori resigns as chairman emeritus.
- Apr 17, 2026Third-party committee delivers its final investigation report (Business Wire).
- Sep 29, 2026President Mitsuya Kishida resigns; Michio Kaida takes over (Jiji via Nippon.com).
- Sep 30, 2026Annual results filed unaudited, with a second disclaimer of opinion.
- Oct 28, 2026Nidec says added audit procedures should finish by end of November 2026, without a date for a clean opinion.
The corrections Nidec is still making, moving impairments into earlier years and revising valuation losses on subsidiaries, point to the core problem: losses were recognized too late. Nidec has also said it will pause acquisitions while it rebuilds controls, removing what used to be its main growth tool.
The FY2025 Numbers (Year to March 2026)
| JPY | FY to Mar 2026 | FY to Mar 2025 (restated) |
|---|---|---|
| Net sales | 2,708.7B | 2,606.3B |
| Operating profit | -519.0B | 128.2B |
| Net profit to owners | -564.6B | 84.7B |
| Impairment losses | 632.1B | n/a |
| FY to Mar 2027 forecast | Sales 2,800B; operating profit 200B; net profit 100B | |
Source: Nidec's financial statements summary (Sep 30, 2026). About JPY 231 billion of the impairments hit automotive products and JPY 335 billion appliance, commercial and industrial products. Nidec itself warns that undetected misstatements could be "material and pervasive." The underlying business still grew sales nearly 4%, and the forecast implies a 7% operating margin this year, but those figures carry an asterisk until an auditor signs off.
Can Nidec Stay Listed?
A special-alert designation gives a company time to repair internal controls; if the TSE judges the fixes inadequate, delisting is possible. Nidec's October 28 notice said it would submit its written confirmation of internal management systems on October 30, that restated reports have not been filed, and that part of the FY2025 impairment is being moved into earlier years. New CEO Kaida has called keeping the listing his "mission." The next milestones are the end-November audit work, the TSE's review and any restated filings. For ADR holders, a Tokyo delisting would hit liquidity hard.
Binary risk: lifting the special-alert status could re-rate the shares; a delisting decision would be severe. Size any position accordingly.
Nidec and Humanoid Robots
Nidec's robot exposure is real but small. Through Nidec Drive Technology it sells precision reducers for robots, including the FLEXWAVE strain-wave line and a Smart FLEXWAVE version with a built-in sensor launched in 2025. It runs a dedicated humanoid gearbox page pitching packages of motor, gearbox and sensor from one supplier, backed by more than 300 production sites. That one-stop actuator pitch competes with Harmonic Drive Systems in strain-wave gears and Nabtesco in reducers, and with Chinese actuator assemblers in the Optimus chain.
On Tesla: some online supplier roundups describe Nidec as an Optimus motor supplier. We found no Nidec or Tesla statement confirming that, so treat it as unverified. Our Optimus suppliers guide covers the companies with reported orders. For how motors and reducers combine in each joint, see Optimus hardware specs.
Two Ways This Can Go
Recovery case: the auditor signs off, the TSE lifts the alert, the JPY 200B operating profit forecast holds, and investors start to value Nidec's motors, gearboxes and data-center cooling on earnings again, with robots as a bonus.
Downside case: new misstatements surface, the audit drags past the TSE's patience, and the shares face delisting or a long discount. Humanoid products would not matter in that outcome.
How to Buy Nidec Stock
- Tokyo: 6594 via a broker with Japanese market access, in 100-share lots.
- US: the NJDCY ADR trades over the counter; spreads widen on news days.
- Funds: Nidec is held by many Japan equity funds. For robot-focused options, see our humanoid robot stocks guide.
This article is for information only and is not investment advice.
FAQ: Nidec Stock
Is Nidec being delisted?
Not as of November 10, 2026. Nidec has been a Securities on Special Alert issue on the Tokyo Stock Exchange since October 28, 2025, which can lead to delisting if internal controls are not fixed. The company planned to submit a written confirmation of its internal management system to the TSE on October 30, 2026, and its new president has said keeping the listing is his mission.
What is the Nidec accounting scandal?
Nidec found improper accounting practices across parts of the group in 2025, including issues around asset valuations and impairments. A third-party committee issued its final report in April 2026, founder Shigenobu Nagamori resigned as chairman emeritus in December 2025, and the auditor has disclaimed an opinion on the financial statements for two straight years.
How much did Nidec lose?
For the fiscal year ended March 31, 2026, Nidec reported an operating loss of JPY 519.0 billion and a net loss attributable to owners of JPY 564.6 billion on sales of JPY 2.71 trillion, driven by JPY 632.1 billion of impairments. The statements were not audited, and no dividend was paid.
Does Nidec supply Tesla Optimus?
There is no confirmed supply relationship. Nidec markets gearboxes and combined motor, gearbox and sensor packages for humanoid robots, but neither Nidec nor Tesla has announced an Optimus contract.
What is the Nidec ADR ticker?
Nidec's American depositary receipts trade over the counter in the US under NJDCY. The main listing is code 6594 on the Tokyo Stock Exchange Prime Market.
What does Nidec expect for this year?
For the year ending March 2027, Nidec forecasts sales of JPY 2.8 trillion, operating profit of JPY 200 billion and net profit of JPY 100 billion, assuming 150 yen to the dollar.
The Bottom Line
Nidec has the motors, gearboxes and global factories to be a serious humanoid component supplier, but in November 2026 it is a governance story first. A JPY 565 billion loss, unaudited statements and a TSE special alert make the next few months binary. There is no confirmed Optimus business. Investors who want robot exposure with fewer unknowns have cleaner options; those who buy Nidec are betting on the audit and the listing, not on humanoids.
Sources: Nidec FY2025 financial statements summary (Sep 30, 2026), Nidec notice on the disclaimer of opinion (Oct 28, 2026), Nidec via Business Wire (Apr 17, 2026; Dec 2025), Jiji via Nippon.com (Oct 1, 2026), Nidec humanoid gearbox page. Not investment advice. Last fact-check: November 10, 2026.
SUPPLIERS UNDER THE MICROSCOPE
Not every robot-related stock is a clean play. We check the filings, the audit status and the actual customer links.
