Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) today announced that the Company has acquired a 100% ownership of a privately owned German company, Systeme + Steuerungen GmbH and its group companies (collectively “SYS”), from its owners on February 4, 2019 (the “Transaction”) through Nidec-Shimpo GmbH, a German-based affiliate of Nidec’s subsidiary, Nidec-Shimpo Corporation. SYS is renowned for its industry-leading, high-speed and high-precision feeding equipment for press machines. Details are as follows:
|1. Outline of SYS|
(1) Company Name:
||Systeme + Steuerungen GmbH and its group companies|
|(2) Headquarters:||Grafenau, Germany|
|(4) Managing Director:||
Wolfgang Biewald, the current managing director
of SYS will remain after the Transaction
(5) Principal Place of Business:
|(6) Principal Business:||
|(7) Employees:||Approximately 120|
EUR 15.2 million
(fiscal year ended December 31, 2017)
EUR 17.0 million
(estimated, fiscal year ended December 31, 2018)
2. Purpose of the Transaction and Future Operation Policy
Nidec has been actively developing its metal forming machinery business through its subsidiary, Nidec-Shimpo Corporation.
Since the acquisition of Kyori Kogyo Co., Ltd. in 1997, a manufacturer of highspeed and high-precision stamping presses (merged with Nidec-Shimpo Corporation in 2012), the Company has strengthened its press business. The Company acquired Nidec Minster Corporation (formerly The Minster Machine Company) in the U.S. in 2012, and Nidec Arisa S.A. (formerly Arisa S.A.) in Spain in 2015. These acquisitions have formed Nidec’s global foothold for stamping operations and services with manufacturing sites in three key regions, Asia (Japan and China), the U.S., and Europe, and enabled Nidec to offer best-in-class products and services to its customers.
Beyond the realm of the press machine business, the Company today also focuses on a broader range of metal forming equipment. The Company acquired Nidec Vamco Corporation (formerly Vamco International, Inc.) in 2017, an industry-leading, highspeed feeding equipment manufacturer. Through this acquisition, the Company gained Vamco’s competitive brand, product quality and global customer base particularly in North America and Asia. With the acquisition of SYS with advanced technology in feeding equipment, strong expertise in high-speed, high-precision stamping technology, strong brand recognition in Europe, the Company will take a deeper root in the metal forming industry in Europe.
Through the Transaction, the Company is now set to offer highly value-added solutions to customers in the metal forming industry across the board, including motor core lamination manufactures who serve the fast growing electric vehicle market.
3. Effect on Financial Performance for the Current Fiscal Year
The Transaction is expected to have no significant impact on the Company’s consolidated financial performance for the fiscal year ending March 31, 2019. If necessary, the Company will make additional disclosure on a timely basis in accordance with the rules of the Tokyo Stock Exchange upon determination of further details.
Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements regarding the intent, belief, strategy, plans or expectations of the Nidec Group or other parties. Such forwardlooking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, the risks to successfully integrating the acquired business with the Nidec Group, the anticipated benefits of the Transaction not being realized, changes in general economic conditions, shifts in technology or user preferences for particular technologies and changes in business and regulatory environments. The Nidec Group does not undertake any obligation to update the forward-looking statements contained herein or the reasons why actual results could differ from those projected in the forward-looking statements except as may be required by law.
Nidec was established in Kyoto, Japan in 1973 by its Chairman and CEO Shigenobu Nagamori. In 1979, Nidec became the first company in the world to successfully commercialize a direct drive spindle motor for HDDs based on a brushless DC motor. Since then, the company has grown into a world-leading comprehensive motor manufacturer encompassing more than 300 subsidiaries employing over 100,000 people throughout the world and with annual sales exceeding $13B. Nidec's motors, drives, generators and related products are found in a diverse range of applications including computers, smartphones, home appliances, automobiles, manufacturing plants, robots and more.