The work-style reform initiative launched by the Japanese government is gaining traction in industrial circles. For Nidec, a company that used to be known for long hours and a gung-ho attitude, the shift toward a more efficient way of working started about three years ago. In order to win in the global competition, the company has set out to achieve "double productivity and zero overtime" by 2020.
Nidec is known for making active use of mergers & acquisitions (M&A) as a part of its management strategy. In this installment, Takamitsu Araki, senior vice president and general manager of Nidec's corporate strategy office, explains the company's M&A strategy and recipe for successful acquisitions.
Nidec Corporation announced today that the Company completed the acquisition of the compressor business (“Embraco”) of Whirlpool Corporation on July 2, 2019 (July 1, 2019 local time in Brazil) following the European Commission’s approval granted on June 26, 2019.
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.
Following the announcement of Nidec’s financial results for the fiscal first half of 2018, the company’s founder and chairman, Shigenobu Nagamori, met with investors in Tokyo to discuss the company’s financial situation and its strategy moving forward. Nidec recently recorded its highest net sales and operating profit, among other figures, on a first-half and quarterly basis.
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 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.
Nidec head office (Kyoto, Japan)
338 Kuzetonoshiro-cho, Minami-ku 601-8205 Kyoto
Japan