Vietnam unit of Japan electric motor producer Nidec Precision hacked for ransom

By Tri Duc Tue, August 13, 2024 | 9:46 am GMT+7 Nidec Precision Corporation, under Japanese manufacturer of electric motors Nidec Corporation, has affirmed that the network of its subsidiary Nidec Precision Vietnam Corporation was hacked and ransom was demanded.

Nidec factory in Hho Chi Minh City, southern Vietnam. Photo courtesy of Nidec Vietnam.

In a Monday statement, Nidec Corporation said it was contacted by an unidentified external group (external criminal group) about the stealing of documents and files. Nidec confirmed that part of the information owned by Nidec Precision Vietnam Corporation was "posted on the website where the external criminal group claimed to have a sample of the stolen information."

So far, Nidec Corporation has not been able to identify the specific extent of the data leak caused by this incident. The firm is determined to thoroughly investigate this incident and elucidate the case soon while launching all available measures to prevent a recurrence. Nidec Corporation also apologized for the trouble caused by this attack and pledged to exert its best efforts by utilizing any required resources to the fullest extent possible to solve this incident promptly and properly.

Found in 1973, Nidec established its Vietnamese unit in Saigon Hi-tech Park (SHTP) in Ho Chi Minh City in 1997. While Nidec is known for manufacturing and distributing electric motors - a component of hard disk drives, electric appliances, automobiles, and commercial and manufacturing equipment, the Vietnamese subsidiary is in charge of manufacturing fans.

Nidec chairman Yoshihisa Kitao (left) and Deputy Prime Minister Tran Luu Quang at a meeting in Hanoi on July 23, 2024.

Photo courtesy of the government news portal.

So far, Nidec has invested over £1 billion in Vietnam, employing 15,000 people, Nidec chairman Yoshihisa Kitao told Vietnamese Deputy Prime Minister Tran Luu Quang at a meeting in July.

Kitao also affirmed Vietnam is its biggest investment hub in the world, thanks to the country's potential and the government's strong support for the firm.