Oasis Takes Stake in Scandal-Embroiled Motor Maker Nidec

Oasis Management Co. has built a significant stake in Nidec Corp., which is in turmoil following an accounting scandal that forced the Japanese manufacturer to delay financial results, seen its credit rating downgraded and put it at risk of a delisting from the stock market.

The investor holds 6.74% of the electric-motor maker and is seeking to restore Nidec’s corporate value and improve governance, Oasis said in a statement Wednesday. “Nidec’s underlying business remains highly competitive and possesses significant growth potential,” the fund said, adding that it may make proposals to protect shareholder value.