Nidec Completes Business Succession from Tokyo Maruzen Industry Co., Ltd.
2017年10月2日 - 3:30PM
Nidec Corporation (TSE:6594) (OTC US:NJDCY) (“Nidec”) today
announced that one of its subsidiaries, Nidec Sankyo Corporation
(“Nidec Sankyo”) has completed succeeding the business of Tokyo
Maruzen Industry Co., Ltd. (the “Splitting Company”) on October 1,
2017 by way of an absorption type company split, through a new
company formed to this effect (the “Succeeding Company”). This
succession was performed in line with the succession plan announced
on August 9, 2017.
1. Outline of the
Succeeding Company
(1) Company
name |
Tokyo
Maruzen Industry Co., Ltd. |
(2) Location
of head office |
591-11,
Ishikawa, Sakura-shi, Chiba 285-0813, Japan(commencement of
operations: October 1, 2017 ) |
(3)
Representative |
President: Akira Noami |
(4)
Description of business |
Development, manufacture, and sale of electric contact materials,
contact rivets, and contact staking |
(5)
Establishment |
August
17, 2017 |
(6)
Capital |
¥20
million |
(7)
Ownership |
Nidec
Sankyo Corporation: 100% |
2. Purpose and Background of the Company
Split
Electric contact products used for relays,
switches, circuit breakers, etc. are gaining popularity in the
fast-growing electric and plug-in hybrid vehicles market and also
expected to expand their use into the appliance and industrial
equipment market. Nidec Sankyo has taken over the entire business
of the Splitting Company, including the mainstay electric contact
business, in response to the surge in demand for electric
contacts.
Nidec believes the Splitting Company’s capability
in material development, production engineering and manufacturing
responsiveness will allow for unparalleled sophistication in
electric contacts both in terms of quality and reliability.
3. Effect on Financial Performance for the Current
Fiscal Year
Nidec intends to make appropriate disclosures
regarding the impact of the Transaction described herein on its
consolidated financial performance for the current fiscal year and
announce any changes to its financial performance in accordance
with the applicable rules of the Tokyo Stock Exchange once such
details are
determined. Cautionary
Statement Concerning Forward-Looking Information
This press release contains forward-looking
statements regarding the intent, belief, strategy, plans or
expectations of the Nidec Group or other parties. Such
forward-looking statements are not guarantees of future performance
or events and involve risks and uncertainties. Actual results may
differ materially from those described in such forward-looking
statements as a result of various factors, including, but not
limited to, the risks to successfully integrating the acquired
business with the Nidec Group, the anticipated benefits of the
planned transaction not being realized, changes in general economic
conditions, shifts in technology or user preferences for particular
technologies, other risks relating to changes in business and
regulatory environments. The Nidec Group does not undertake any
obligation to update the forward-looking statements contained
herein or the reasons why actual results could differ from those
projected in the forward-looking statements except as may be
required by law.
Contact: Masahiro NagayasuGeneral
ManagerInvestor Relations+81-75-935-6140ir@nidec.com