Skip to content

Press release -

Nidec Announces Completion of Tender Offer for Shares of Chaun-Choung Technology Corp., Taiwan

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

Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has completed the tender offer for 48.0% of the outstanding shares of Chaun-Choung Technology Corp. (TWSE: 6230) (“CCI”) based in Taiwan which was commenced on October 3, 2018 (the “Tender Offer”), in line with its previous announcement title “Nidec Announces Fulfillment of All the Conditions of Tender Offer for Chaun-Choung Technology Corp., Taiwan” dated November 12, 2018.

This transaction does not fall under the public tender offer defined in Paragraph 1, Article 27-2 of the Financial Instruments and Exchange Act of Japan. 

1. Summary of CCI

(1) Company name Chaun-Choung Technology Corp.
(2) Headquarters 12F, No.123-1, Xingde Road, Sanchung, New Taipei City 241,
Taiwan, R.O.C.
(3) Name and title of
representative
Chairman, Wu Shih Ling
(4) Description of business Development, manufacturing, and sales of thermal module
products
(5) Capital TWD 863,433,960
(6) Date of establishment December 14, 1973
(7) Consolidated financial results and financial conditions of CCI                                            
         Accounting period         December 2015         December 2016         December 2017
Net assets             TWD 3,494M             TWD 3,782M             TWD 3,599M
Total assets             TWD 6,215M             TWD 6,730M             TWD 6,489M
Book-value per share                TWD 40.47                TWD 43.80                TWD 41.68
Sales             TWD 6,044M             TWD 7,297M             TWD 7,067M
Operating profit                TWD 801M             TWD 1,194M                TWD 767M
Net profit                TWD 671M                TWD 946M                TWD 500M
Earnings per share                  TWD 7.77                TWD 10.95                  TWD 5.79

2. Number of shares acquired, cost of investment paid and shares held by Nidec Corporation before

and after investment 

(1) Number of shares held                  
prior to the Tender Offer 
0 shares                                                                     
(Number of voting rights: 0)
(Voting rights ownership: 0.0%) 
(2) Number of shares
acquired 
41,444,831 shares
(Number of voting rights: 41,444,831) 
(3) Cost of investment Approximately TWD 4,476 million
(4) Number of shares held
after the Tender Offer 
41,444,831 shares
(Number of voting rights: 41,444,831)
(Voting rights ownership: 48.0%) 

3. Schedule
Completion date of stock transfer                   November 30, 2018

4. Future outlook
The Tender Offer is expected to have no significant impact on Nidec’s consolidated financial performance for the fiscal year ending March 31, 2019. 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 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 Tender Offer 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.

Topics

Categories


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.

Contacts

Nao Maeda

Press contact Media Relations (China)

Izumi Nagata

Press contact PR Department +81 80-9674-9227

Kana Sato

Press contact PR Department +81 80-7998-4066

For Everything That Spins and Moves

​Nidec was established in Kyoto, Japan in 1973 by its Chairman 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.

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