Press release -
Notice regarding Nidec’s Receipt of Second Request Letter from Special Committee of Makino Milling Machine Co., Ltd.
As explained in the press release, “Notice Regarding Scheduled Commencement of Tender Offer for Makino Milling Machine Co., Ltd. (Securities Code: 6135),” dated December 27, 2024, Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec” or the “Company”), as part of a series of transactions (the “Transaction”) for the purpose of making Makino Milling Machine Co., Ltd. (listed on Tokyo Stock Exchange Inc.’s Prime Market) (the “Target Company”) a wholly owned subsidiary of the Company, decided to acquire the shares of common stock of the Target Company through a tender offer, and on the same day submitted to it a letter of intent regarding the Transaction.
In relation to the aforementioned events, in response to the “Request Regarding the Planned Commencement Timing and Number of Shares to Be Acquired in the Tender Offer,” a document dated January 15, 2025 that Nidec received from the Special Committee of the Target Company, the Company submitted a document, “Regarding the Request Letter from the Special Committee of Makino Milling Machine Co., Ltd. (Securities Code: 6135),” dated January 17 to the Special Committee of the Target Company to explain Nidec’s recognition and understanding of the request letter. Nidec received another document, “Understanding on Your Company’s Letter dated January 17, 2025 and Our Second Request” (the “Second Request Letter”), dated January 22, from the Special Committee of the Target Company.
The Company intends to sincerely examine and respond to the Second 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.
