KYOTO, Japan -- Nidec paid shareholders more than it was supposed to in dividends and conducted a share buyback that also exceeded the distributable amount, the Japanese motor maker said Friday.
The two accounting errors -- the overpaid dividends occurred in the April-September period of 2022 while the share buyback happened between Sept. 1, 2022 and March 31 -- were serious mistakes, according to an attorney familiar with corporate law.
