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Nidec shares log biggest tumble in 15 years on China chill
Shares of Japan's Nidec, a motor manufacturer, fell over 10% due to concerns about its prospects in the challenging Chinese market for electric vehicles. Nidec's EV business in China experienced a decline in profitability, highlighting the difficulties faced by parts makers in the world's top auto market. The company now expects a full-year loss of 15 billion yen ($100 million) at its e-axle business. Nidec will review its plans to ensure healthy profits and focus on areas where its products are valued.
Shares of Japan's Nidec, a motor manufacturer, fell over 10% due to concerns about its prospects in the challenging Chinese market for electric vehicles. Nidec's EV business in China experienced a decline in profitability, highlighting the difficulties faced by parts makers in the world's top auto market. The company now expects a full-year loss of 15 billion yen ($100 million) at its e-axle business. Nidec will review its plans to ensure healthy profits and focus on areas where its products are valued. 
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