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  "documentTitle": "Nidec Corp. (6594 JP)",
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  "authorName": "Carson C. Block",
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  "notes": "The slide uses a strong metaphor comparing the auditor's failure rate to Michael Jordan's basketball success.",
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      "text": "Kyoto Audit Corp. is now PricewaterhouseCoopers Kyoto. As of its 2013 PCAOB inspection, Kyoto Audit audited only two companies that filed financials in the U.S.: Kyocera and Nidec. The public version of the PCAOB inspection report is troubling.",
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      "text": "In our opinion, Kyoto Audit is to audit failures what Michael Jordan was to basketball. It is extremely questionable why a company with a JPY 3,000 billion market cap would still use an auditor with such a checkered history.",
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      "text": "In our opinion, Kyoto Audit is to audit failures what Michael Jordan was to basketball. — Muddy Waters Capital",
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