Nidec Climbs After Oasis Reveals Stake, Calls For Reform

Nidec Corp. shares rose the most in a week after Oasis Management Co. disclosed a sizable stake in the electric-motor manufacturer, calling for sweeping governance reforms after its accounting scandal.

The stock jumped as much as 7.9% in early morning trading on Thursday in Tokyo. Oasis revealed it owns 6.74% of the Japanese company, which is in turmoil following cases of improper bookkeeping at subsidiaries in Italy, Switzerland and China, as well as within its automotive electric-motor inverter business.