Press release -
Nidec Comments on Toyo Keizai Online’s Article
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) has noted today that Toyo Keizai Online published an article on October 7, 2022 which expresses doubts that Nidec is conducting inappropriate processing in the acquisition of treasury stock. The article is completely wrong.
Nidec complies the laws and regulations and is considering legal measures against the media.
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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 $13B. 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.
