Nidec Corporation announced today that it has completed the tender offer for 48.0% of the outstanding shares of Chaun-Choung Technology Corp. based in Taiwan which was commenced on October 3, 2018, in line with its previous announcement titled “Nidec Announces Fulfillment of All the Conditions of Tender Offer for Chaun-Choung Technology Corp., Taiwan” dated November 12, 2018.
KYOTO–August 29, 2018–The Japan-based multinational manufacturer of electric motors Nidec keeps growing, and the company’s Appliance, Commercial and Industrial Motor (ACIM) division is set to play an important role in the continued growth of the company group. As a part of its growth strategy, Nidec has named Henk van Duijnhoven as Global Business Leader of its ACIM division.
For the first time in the 45 year old history of the Kyoto-based multinational manufacturer of electric motors, Nidec has a new president, as Hiroyuki Yoshimoto becomes the first person to hold the post after the company’s founder Shigenobu Nagamori. The appointment was approved on June 20 at the 45th regular general meeting of shareholders and a subsequent meeting of the board of directors.
Nidec Corporation ranked No.1 in all 7 categories in the Electronics/Components business sector of Institutional Investor’s 2018 All-Japan Executive Team. This is the sixth consecutive year of being ranked No.1 on Institutional Investor’s All-Japan Executive Team rankings.
As announced on December 4, 2017, Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec”) and Groupe PSA have completed the establishment of the joint venture that develops, manufactures and sells automotive electric traction motors. The profile of the joint venture is as follows.
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that its Board of Directors has approved a resolution to acquire the compressor business (“Embraco”) of Whirlpool Corporation (“Whirlpool”) (the “Transaction”). For this purpose, Nidec entered into a stock purchase agreement on April 24, 2018 (Japan time).
After a year of construction, the first section of the new Nidec Center for Industrial Science in Seika-cho, Kyoto prefecture has been completed. The new facility will bring together companies, research institutions and universities from all around the world and serve as a global hub for research and development of technology aimed at making manufacturing more efficient.
On February 15, 2018 Nidec held a press conference about the appointment of a new President and Chief Operating Officer. The following is a summary of the statements made by the executives speaking at the press conference.
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced the appointment of new president effective June 20, 2018 upon shareholder approval at the Regular General Meeting of Shareholders and a subsequent meeting of the Board of Directors to be held on the same day.
Nidec Corporation and Groupe PSA, through Nidec Leroy-Somer Holding, intend to set up a joint venture dedicated to the design, development, manufacture and sale of electric traction motors. For this purpose, Nidec Leroy-Somer and Groupe PSA entered into a joint venture agreement on December 4, 2017.
Nidec Corporation announces that it has acquired 100% of the shares of driveXpert GmbH, a company specialized in design and development of hardware and software for automotive Electronic Control Units (ECU), from its former shareholders on November 30, 2017. The deal will enable the combination of Nidec’s high-performance motors and driveXpert’s high precision ECUs.
On June 8, 2017, Nidec's Head Office in Kyoto, Japan was graced with a visit from his excellency Mr. Nguyen Xuan Phuc, prime minister of the Socialist Republic of Viet Nam. During his visit, prime minister Phuc inspected one of the Nidec group’s factories after meeting with Nidec’s chairman, president & CEO Shigenobu Nagamori at the company’s administrative head office.
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.
