OMRON Automotive Electronics Becomes Part of the Nidec Group

Press releases   •   Nov 12, 2019 01:30 EST

OMRON Automotive Electronics has become part of the Nidec group under the new name Nidec Mobility. Moving forward, the company will work closely with Nidec’s automotive motor business unit to develop new modules and systems that combine the motors, pumps, gears, etc. of the Nidec group with the electronic control units, and other electronic components, of Nidec Mobility.

Nidec Pledges¥7.5 million to support Typhoon No. 19* Relief and Recovery

Press releases   •   Nov 06, 2019 01:31 EST

As we at Nidec Corporation (Hiroyuki Yoshimoto, President and COO) would like to assist in the support of rescue and recovery efforts in the victimized areas, we have today decided to make a donation of JPY 7.5 million.

1.Donation amount: JPY 7.5 million

2.Recipient: Japanese Red Cross Society

We would like to convey our deepest sympathies to the victims of the typhoon along with our sincere wishes for the earliest recovery.

*Typhoon No.19 called “Hagibis” was a large and powerful tropical cyclone that was considered to be the most devastating typhoon to hit the Kantō region of Japan in the past 60 years.

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.

As we at Nidec Corporation (Hiroyuki Yoshimoto, President and COO) would like to assist in the support of rescue and recovery efforts in the victimized areas, we have today decided to make a donation of JPY 7.5 million.

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Monthly Nidec Report - Eliminating overtime to win in the global competition

Blog posts   •   Oct 30, 2019 02:01 EDT

The work-style reform initiative launched by the Japanese government is gaining traction in industrial circles. For Nidec, a company that used to be known for long hours and a gung-ho attitude, the shift toward a more efficient way of working started about three years ago. In order to win in the global competition, the company has set out to achieve "double productivity and zero overtime" by 2020.

Monthly Nidec Report - Nidec's recipe for successful mergers & acquisitions

Blog posts   •   Sep 27, 2019 02:00 EDT

Nidec is known for making active use of mergers & acquisitions (M&A) as a part of its management strategy. In this installment, Takamitsu Araki, senior vice president and general manager of Nidec's corporate strategy office, explains the company's M&A strategy and recipe for successful acquisitions.

Nidec Motor Corporation Wins HVACR Supplier Award

Press releases   •   Aug 28, 2019 20:25 EDT

ST. LOUIS – August 23, 2019 –BLUE HAWK, the cooperative that represents independent HVACR distributors throughout the U.S., has named Nidec Motor Corporation (NMC) Vendor Partner of the Year.

Monthly Nidec Report - Towards a decarbonized society

Blog posts   •   Aug 21, 2019 03:00 EDT

Nidec's contribution to sustainability has traditionally been in the shape of efficient motors that reduce energy consumption, but for some time we have been stepping up our efforts to contribute through energy creation as well. In this installment, we take a look at Nidec ASI's strategy as told by Franck Girard, the Chairman & Managing Director of Nidec ASI - France.

Nidec in 2 minutes

Blog posts   •   Aug 07, 2019 00:41 EDT

Nidec started out in 1973 with 4 people and a dream—becoming the world’s number 1 manufacturer of electric motors. Now, 100,000 people in 40 countries produce 3 billion motors per year under the Nidec umbrella. In this short video, the 3 key drivers behind Nidec’s growth and “5 waves”—trends to look out for—are introduced.

Nidec started out in 1973 with 4 people and a dream—becoming the world’s number 1 manufacturer of electric motors. Now, 100,000 people in 40 countries produce 3 billion motors per year under the Nidec umbrella. In this short video, the 3 key drivers behind Nidec’s growth and “5 waves”—trends to look out for—are introduced.

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Nidec to Form a Joint Venture with a Subsidiary of China-Based Guangzhou Automobile Group Company for Automotive Traction Motors

Press releases   •   Aug 01, 2019 04:37 EDT

Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has adopted at a meeting of the Board of Directors held on August 1, 2019 a resolution to execute a contract with GAC Components Co., Ltd. (“GAC Components”), a member of China-based Guangzhou Automobile Group Co., Ltd. (“Guangzhou Automobile Group”), to establish a joint venture to manufacture automotive traction motors.
The closing of this case will be subject to approval by competition authorities.

1. Purpose of This Transaction and Operation Policy Going Forward
Nidec has been expanding and strengthening its automotive motor business, one of the Company’s strategically critical businesses, by setting the business’s target sales amount to 700 billion to one trillion yen under Vision 2020, the Company’s mid-term strategic goal.

Countries around the world have announced a ban on the sales of gasoline and diesel vehicles one after another to combat global warming and air pollution, making zero-emission vehicles a global trend. Accordingly, car manufacturers are launching measures globally, including the acceleration of the pace of introducing electric vehicles (“EV”) more than ever. As this trend of car electrification intensifies, the automotive motor market, strategically important for Nidec, is forecast to double its size to six trillion yen in 2030. Among all the products in the market, companies’ attention and Nidec’s particular focus are on the traction motor, one of the most important components to replace the existing internal-combustion engine.

GAC Components is a subsidiary of a major Chinese car manufacturer Guangzhou Automobile Group that has the sixth largest market share in the increasingly environmentally strict China. GAC Components mainly manufactures automobile interior parts, electric components, etc. for not only the EVs and PHEVs under the Guangzhou Automobile brand, which plays a significant role in the transition to EVs, but also joint ventures with Japanese car manufacturers.

GAC Components and Nidec, realizing the strategic importance of traction motors in the future automobile industry, have agreed to collaborate to produce low-cost, high-efficiency traction motors for Guangzhou Automobile Group.

The joint venture company will exploit Guangzhou Automobile Group’s collective know-how on finished vehicles mechanism and Nidec’s drive and electronics technologies to develop, manufacture, and sell low-cost, high-efficiency traction motors mainly for Guangzhou Automobile Group, and later, other car manufacturers as well. Further, the joint venture company will hire development engineers locally in China, which is abundant in such resources, to accelerate the pace of product development and design, while utilizing Guangzhou Automobile Group’s local purchasing capabilities to promote cost reduction.

2. The New Joint Venture Company:

(1) Name Guangzhou Nidec Auto Drive System Co., Ltd. (tentative)
(2) Headquarters Guanzhou, Guangdong Province, China
(3) Establishment September – October 2019 (plan)
(4) Main business Development, production, sale, and after-sales service of
automotive traction motor systems and components
(5) Registered capital 600 million yuan (approx. 9.3 billion yen) (plan)
(Investment: Nidec – 51%, and GAC Components – 49%)
(6) Representative (CEO) To be determined

*The yuan-yen currency exchange rate is based on Nidec’s expected FY2019 rate of 15.5 yen per yuan.

3. GAC Components:

(1) Name GAC Components Co., Ltd.
(2) Head office Guanzhou, Guangdong Province, China
(3) Main businesses Development, manufacturing, and sales of automotive
seat systems, interior trim products, and other interior
components; body electrical components; and other
products
(4) Capital 1.07 billion yuan (approx. 16.6 billion yen) (as of July 31, 2019)
(5) Representative Li Jin (Chairman)
Gong Han Qin (President)
(6) Relations between
      Nidec and GAC
      Components
Capital             No such relations.
Personnel        No such relations.
Business          No such relations.

*As a private company, GAC Components is exempt from rules of the Tokyo Stock Exchange which requires disclosure of non-consolidated performance or financial conditions for the last three years.

4. Schedule

(1) Resolution at a
      meeting of the Board
      of Directors
August 1, 2019
(2) Execution of the
      contract
August 1, 2019
(3) Execution of this
      transaction
Planned for between September and October 2019.
(This period is subject to change based on the status of
approval by individual competition regulatory
authorities.)


5. Effect on Financial Performance for the Current Fiscal Year
The Transaction is expected to have no significant impact on Nidec’s consolidated financial performance for the fiscal year ending March 31, 2020. Nidec 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 planned transaction not being realized, changes in general economic conditions, shifts in technology or user preferences for particular technologies, whether and when required regulatory approvals are obtained, other risks relating to the successful consummation of the planned transaction, 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.

Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com

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.

Nidec Corporation announced today that it has adopted at a meeting of the Board of Directors held on August 1, 2019 a resolution to execute a contract with GAC Components Co., Ltd., a member of China-based Guangzhou Automobile Group Co., Ltd., to establish a joint venture to manufacture automotive traction motors.

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Monthly Nidec Report - Motors for innovative personal mobility solutions

Blog posts   •   Jul 09, 2019 01:45 EDT

Announced in 2014, the revolutionary power wheelchair "WHILL" stands out for its sophisticated design and ease of use. More than just a wheelchair, it is truly worthy of being called a "next-gen personal mobility device." The latest model, announced in April 2017, is lighter, more compact and even easier to use, in part due to a custom-developed Nidec motor.

Nidec Completes Acquisition of Embraco, Whirlpool Corporation’s Compressor Business

Press releases   •   Jul 01, 2019 19:30 EDT

Nidec Corporation (TSE: 6594) (OTC US: NJDCY) (the “Company” or “Nidec”) announced today that the Company completed the acquisition of the compressor business (“Embraco”) of Whirlpool Corporation (“Whirlpool”) on July 2, 2019 (July 1, 2019 local time in Brazil) following the European Commission’s approval granted on June 26, 2019. This acquisition was performed in line with the acquisition plan announced on April 24, 2018 in the Company’s press release titled “Nidec to Acquire Whirlpool Corporation’s Compressor Business.”

As a result of this acquisition, Embraco and their subsidiaries became Nidec’s subsidiaries. The details of the acquired companies are as follows. In addition, certain customary post-closing filings and registrations related to the acquisition of two subsidiaries in China of Embraco are expected to be completed by September 30, 2019.

1. Outline of the Acquired Companies

1) Change of Company Names
2) New Directors

2. Purpose of the Transaction and Future Operation Policy

Nidec has been actively developing a new growth platform with particular focus on appliance, commercial and industrial business. As part of this strategy, the Company is pursuing strategic acquisitions in the appliance industry. For this purpose, Nidec has created a new division named Nidec Global Appliance Division, which mainly consists of Nidec Sole Motor Corporation S.R.L. acquired in January 2010 and the appliance business of Nidec Motor Corporation acquired in September 2010. In July 2017, Nidec acquired Secop group (currently Nidec Global Appliance Compressors GmbH, etc.), which enabled the Company to enter into the household and commercial refrigeration compressor market. Combining with Embraco’s business, Nidec aimed to expand further its refrigeration compressor business.

However, as announced in its press release titled “Nidec to Sell Its Secop Compressor Business to ESSVP IV Advised by Orlando Management” dated April 22, 2019, Nidec through two Nidec’s subsidiaries will sell its compressor business, Secop, to ESSVP IV L.P., ESSVP IV (Structured) L.P., and Silenos GmbH & Co. KG, advised by Orlando Management AG, as condition for the European Commission’s approval of Nidec’s acquisition of Embraco.

Although Nidec will sell Secop group, the Company believes the acquisition of Embraco will allow Nidec to expand further into the global refrigeration compressor market. Embraco’s strength lies in industry-leading compressors for household and commercial refrigerators. Nidec has confidence in further strengthening its refrigeration compressor business through expanding its product portfolio and sales areas. In addition, ever stricter environmental regulations in major regions like Europe, the Americas and China are stimulating customer demand for eco-conscious and space-saving refrigeration compressors. Embraco’s advanced compressors meet such customer requirements. Nidec also believes its best in class brushless DC motor technology will complement Embraco’s compressors. Furthermore, because motors and compressors have similarities in terms of the nature of components used, Embraco expects to reduce procurement costs by taking advantage of synergies of the Nidec group’s purchase capabilities.

The Company believes that this acquisition will bring Nidec Group closer to its FY2020 sales target of two trillion yen as both parties’ technological capabilities, brands, and customer base come to blend well together.

3. Effect on Financial Performance for the Current Fiscal Year

Once the Company determines the impact of this acquisition on its forecast of financial performance for the current fiscal year, it will make appropriate disclosure pursuant to the rules of the Tokyo Stock Exchange.

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 forward-looking 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.

Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com

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.

Nidec Corporation announced today that the Company completed the acquisition of the compressor business (“Embraco”) of Whirlpool Corporation on July 2, 2019 (July 1, 2019 local time in Brazil) following the European Commission’s approval granted on June 26, 2019.

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About Nidec

For Everything That Spins and Moves

​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 approximately 300 subsidiaries employing over 100,000 people throughout the world and with annual sales exceeding $10B. 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.

Address

  • Nidec
  • Nidec head office (Kyoto, Japan)
  • 338 Kuzetonoshiro-cho, Minami-ku 601-8205 Kyoto
  • Japan