Press release -
Nidec Corporation Completed Procedure Required under US Hart-Scott-Rodino Antitrust Improvement Act of 1976 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, at 11:59 p.m. on January 21, 2025 Eastern Standard Time of the United States (or 01:59 p.m. on January 22, 2025 Japan time), the waiting period for the procedure required under the US Hart-Scott-Rodino Antitrust Improvement Act of 1976 – 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 – has expired, meaning that the procedure has been completed as so explained in advance 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. 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) | Mid-February 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 |
| EU | Council Regulation No. 139/2004 of the European Union (Competition Law) | Early April 2025 |
| 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* |
| Germany | Order for Enforcement of the German Foreign Economic Law (Foreign Investment Regulations) | Early April 2025 |
| 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) | Early April 2025 |
| Slovakia | Slovakia Foreign Trade Control Act (Foreign Investment Regulations) | Early April 2025 |
| Spain | Spanish Foreign Investment Law (Foreign Investment Regulations) | Early April 2025 |
| Czech Republic | Czech Republic Foreign Investment Screening Act (Foreign Investment Regulations) | Early April 2025 |
*(at the lapse of the 30-day waiting period after receipt of the simplified notification (Declaration))
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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 $18B. 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.
