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Nidec Completes Acquisition of Automatic Feed Company and Related 2 Companies, US-based Press Machine Equipment Manufacturers

Press release -

Nidec Completes Acquisition of Automatic Feed Company and Related 2 Companies, US-based Press Machine Equipment Manufacturers

Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) today announced that the Company has acquired full ownership of Automatic Feed Company, Lasercoil Technologies LLC, and Automatic Leasing Company, privately- owned US companies (collectively the “Target”), from its founding family on August 1, 2023 (the “Transaction”). As a result of the Transaction, the Target became a consolidated subsidiary of Nidec, as outlined below:

1. Outline of the New Subsidiary
(1)Company names
(i) Automatic Feed Company
(ii) Lasercoil Technologies LLC
(iii) Automatic Leasing Company

(2)Headquarters
Napoleon, Ohio, United States

(3)Foundation
1949

(4)Business leader
Peter Beck

(5)Business base
Manufacturing, sales and service base: Napoleon, Ohio, United States

(6)Principal of businesses
Manufacturing, sales and service for press peripheral equipment

(7)Number of employees
80 (Consolidated)

(8)Consolidated Sales
The fiscal year ended December 31, 2022
37million USD (approximately 4.5 billion yen)

2. Target’s Strengths
The Target is an Ohio, U.S.-based company that manufactures and sells peripheral equipment for medium and large presses and sheet metal cutting equipment for presses. The Target has strong ties with major U.S. automakers and Tier 1 suppliers, and holds a 70% of market share on certain segments of peripherals equipment for auto body parts press machine lines. The Target offers its products and services to not only U.S. but also Japanese major automakers.
The Target's laser blanking technology has the flexibility to be programmed to accommodate a variety of products and applications, with high precision blanking.

3. Nidec’s Press Machine Business
(1)Company name
Nidec Minster, Nidec Drive Technology (Kyori press-machine), Nidec Arisa, Nidec Vamco, Nidec SYS, Nidec CHS

(2)Sales
The fiscal year ended March 31, 2023
66.9 billion yen

(3)Products
Small high-speed presses, medium-sized presses, large presses, peripheral equipment

(4)Manufacturing sites
Japan, China, U.S.A., Mexico, Germany, Spain

(5)Number of employees
Approx. 1,200

4. Synergies with our group
Through our Press Machine Business companies, we have expanded our press machine manufacturing, sales, and service business globally, as well as increased our lineup of presses and peripheral equipment products with M&As.
With the addition of the Target, we will be able to offer a wide range of products and services to our customers and pursue following synergies in terms of products, sales, and technology.
(1) Combine the Target’s equipment with Minster and Arisa’s medium and large presses, offering a complete line on a turnkey basis.
(2) Expand sales of Minster and Arisa presses to automotive customers based in North America.
(3) Incorporation of laser blanking technology is our portfolio of products.

5. Effect on Financial Performance for the Current and Next Fiscal Year
The transaction is expected to have no significant impact on the Company’s consolidated financial performance for this fiscal year ending March 31, 2024. 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.

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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 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

Izumi Nagata

Press contact PR Department +81 80-9674-9227
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For Everything That Spins and Moves

Nidec is the world's leading comprehensive motor manufacturer, specializing in "everything that spins and moves," with a strong focus on the motor business. Nidec's extensive product lineup, which ranges from small precision motors to ultra-large motors, leverages the technological capabilities of its approximately 340 group companies across 46 countries. These products are used in various fields, including IT equipment, automobiles, motorcycles, commerce, and industry. We remain dedicated to providing the world with indispensable products and solutions at an overwhelming speed, utilizing technologies aimed at lightness, thinness, shortness, compactness, and efficiency.

Nidec

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