“Japanese Conglomerate’s Vietnamese Subsidiary, After a $1 Billion Investment, Falls Prey to a Ransomware Attack”

On August 12, Nidec Precision Corporation, a subsidiary of Japan’s Nidec Corporation, announced that its subsidiary, Nidec Precision Vietnam Corporation, had been hacked, resulting in the theft of documents from the company’s servers. The company also received a ransom message from the hackers demanding payment to resolve the incident.

“The company consulted with external experts immediately after the incident. Our investigations have confirmed that a portion of the information owned by NPCV has been posted on a website where the external criminal group claimed to have a sample of stolen information,” said a representative of Nidec Precision Corporation.

Nidec Precision has not yet determined the full impact of the incident and has affirmed that it will implement all possible measures to prevent a recurrence. The company has also apologized for the incident and pledged to use all necessary resources to resolve it as quickly and satisfactorily as possible.

Established in 1973 in Japan, the Nidec Corporation specializes in the manufacturing of various motors and generated revenue of over 2 trillion yen in 2023. The corporation began investing in Vietnam in 1997 and has since invested over 1 billion USD in the country, creating approximately 15,000 jobs.

Nidec Vietnam is a wholly-owned Japanese company that manufactures high-precision fan motors and employs 3,500 staff. It is an important component supplier for electronics such as hard drives, home appliances, and automobiles.

In July, Deputy Prime Minister Tran Luu Quang met with Kitao Yoshihisa, Vice Chairman and CEO of the Nidec Corporation. During the meeting, Deputy Prime Minister Tran Luu Quang welcomed Mr. Kitao Yoshihisa’s visit to Vietnam to discuss investment policies in the field of high technology and expressed his hope that the Nidec Corporation would continue to expand its business investments in the country.

Mr. Kitao Yoshihisa expressed his gratitude for the support and assistance provided by the Vietnamese government over the past 27 years and affirmed that Nidec considers Vietnam as its most important global investment destination due to its belief in the country’s potential and prospects, as well as the government’s thorough understanding and support.

He also stated that Nidec intends to continue expanding its investments in high-tech and new technology fields in Vietnam, with a focus on recruiting and training excellent Vietnamese human resources to serve the corporation’s production and business activities in the country.