Press release -
Notice Regarding Nidec Corporation’s Receipt to a Request Letter from the Special Committee of Makino Milling Machine Co., Ltd.
As explained in the press release issued on December 27, 2024, Nidec Corporation (the “Company”) decided, as part of a series of transactions (the “Transaction”) aimed at making Makino Milling Machine Co., Ltd. (“Target Company”), a company listed on the Prime Market of the Tokyo Stock Exchange, Inc., a wholly owned subsidiary of the Company, to acquire common shares of Target Company through a tender offer, and, on the same date, submitted to Target Company a letter of intent.
Today, in relation to the aforementioned matter, the Company has received a request letter of the Transaction from the special committee, which consists of independent and outside board members of Target Company.
The Company sincerely intends to examine and respond to the request letter.
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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.
