Reported about 8 hours ago
Nidec Corp. has secured a ¥600 billion ($3.9 billion) credit line with MUFG Bank and SMBC, alleviating concerns about its liquidity challenges due to ongoing accounting investigations involving senior executives. This deal involves two unsecured contracts, each worth ¥300 billion, valid for one year from November 7. The company's stock initially rose as a result, despite being downgraded by Moody’s and facing potential delisting from the Tokyo Stock Exchange due to regulatory scrutiny.
Source: YAHOO