Press release -
Nidec Corporation Completed Procedure Required under Austrian Cartel Act (Competition Law) regarding Tender Offer Bid for Makino Milling Machine Co., Ltd. (Securities Code: 6135)
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec” or the “Company”) hereby announces that, on March 21, 2025 (Austria time), the Company has obtained from the Austrian Federal Competition Authority and Federal Cartel Prosecutor their approval under the Austrian Cartel Act (Competition Law) – one of the permits and approvals for this case required for a series of transactions for the purpose of making Makino Milling Machine Co., Ltd. (listed on Tokyo Stock Exchange, Inc.’s Prime Market) a wholly owned subsidiary of Nidec. In the Company’s press release, “Notice Regarding Scheduled Commencement of Tender Offer for Makino Milling Machine Co., Ltd. (Securities Code: 6135),” issued on December 27, 2024, Nidec initially explained that the Tender Offer Bid is subject to approval under Council Regulation No. 139/2004 of the European Union (Competition Law). After reviewing Nidec’s merger notification, the European Commission confirmed that such approval is not required and instead, approval under the Austrian Cartel Act (Competition Law) is required to effectuate the Tender Offer Bid. We will promptly announce the completion of the other procedures required under applicable laws and regulations regarding merger control and foreign investment restriction for other jurisdictions once such procedures have been completed.
(Reference) The expected completion dates (tentative) are as follows:
| Jurisdiction | Relevant Laws and Regulations | Estimated Completion Date (tentative) |
|---|---|---|
| Japan | Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Competition Law) | February 12, 2025 |
| United States of America | Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Competition Law) | January 22, 2025 (Completed) |
| China | Antitrust Law of the People's Republic of China (Competition Law) | Early April 2025 |
Austria |
Austrian Cartel Act (Competition Law) |
March 21, 2025 (Completed) |
| Turkey | Turkish Competition Law (Competition Law) | Early April 2025 |
| United States of America | Committee on Foreign Investment in the United States (CFIUS) regulations (Foreign Investment Regulations) | Early April 2025(at the lapse of the 30-day waiting period after receipt of the simplified notification (Declaration)) |
| Germany | Order for Enforcement of the German Foreign Economic Law (Foreign Investment Regulations) | March 11, 2025 (Completed) |
| France | French Monetary and Financial Code (Foreign Investment Regulations) | Early April 2025 |
| Italy | Italian Legislative Decree No. 21/2012 (Golden Power Law) (Foreign Investment Regulations) | February 27, 2025 (Completed) |
| Slovakia | Slovakia Foreign Trade Control Act (Foreign Investment Regulations) | Early April 2025 |
| Spain | Spanish Foreign Investment Law (Foreign Investment Regulations) | March 17, 2025 (Completed) |
| Czech Republic | Czech Republic Foreign Investment Screening Act (Foreign Investment Regulations) | March 18, 2025 (Completed) |
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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.
