Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) (“Nidec” or the “Company”) announced today that it has instituted an action against Diamond, Inc. and concerned individuals, requesting apology advertisements, among others, and submitted to the competent police station a damage report and a written complaint on the defamation by the aforementioned parties, stating that the recent article published by Diamond, Inc. on the Company is false and defames it.

Details of the civil law suit

1. Court: The Tokyo District Court
2. Date of filing the lawsuit: January 24, 2023
3. Defendants: Diamond, Inc. and editors-in-chief and writers for Diamond Weekly and Diamond Online
4. Address of the defendants: 6-12-17 Jingu-mae, Shibuya-ku, Tokyo
5. Details of the demands: Damage compensation, removal of the articles in question, and apology advertisements among others

Background leading to the civil lawsuit

In the September 29 and November 30, 2022 editions of Diamond Online and the January 07 and 14, 2023 editions of Diamond Weekly, the defendants claimed, among others, that the Company’s Chairman consecutively dismissed those executives opposed to him, and that the Company is short-staffed now that almost all mid-career employees are gone due to the virtual dismissal of its previous President. None of such claims are true.

Nidec finds it unacceptable that Diamond, Inc. defamed the Company by reporting those falsehoods without any conclusive evidence. Therefore, to clarify the truth, the Company has decided to institute an action and a criminal complaint against the aforementioned parties.

Nidec stays committed to engaging in business activities in compliance with laws and regulations.

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