[Tokyo 11th Reuters]- Nidec shares plummeted. At one point it dropped to 8.9%, renewing the lowest price since the beginning of the year. At the time of the previous close, it ranked 8th by rate of decline in the main market on the Tokyo Stock Exchange.
A strategist at a domestic securities firm said the market “appears to have become disgusted with rising US interest rates and falling US stock prices, as well as reports of suspicions about share buybacks.” Toyo Keizai Online reported on 7.
Nidec released a statement on the 11th, saying: “There have been reports that it was suspected that the takeover of own shares was being handled inappropriately, but that is absolutely not true.” “We are considering taking legal action against the news outlet,” he said.
