Nidec Establishes Sales Subsidiary In India
KYOTO, Japan, Dec. 21, 2010 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) ("Nidec") today announced that it has established its first India-based sales subsidiary, Nidec India Private Limited, in Gurgaon, a city adjacent to India's capital, New Delhi, on December 16, 2010.
I. Background leading to the establishment of the sales subsidiary
India ranks only behind China as the world's second most populous country with 1.2 billion people and the second-fastest growing economy among the BRIC nations. An increasing demand for consumer goods, ranging from household appliances and automobiles to communications devices, is fostering the growth of India's domestic businesses and attracting a major influx of Japanese and other foreign-capital companies. The new sales subsidiary aims to build solid business relationships with these prospective companies by quickly meeting their increasing needs for component products and services.II. Outline of the new local sales subsidiary in India
|1. Company Name:||Nidec India Private Limited|
|2. Address & contact information:|
|501-502, ABW Tower IFFCO Chowk, Gurgaon Haryana - 122003, India|
|3. Date of establishment:|
|December 16, 2010|
|4. Business: Sales of brushless DC motors, cooling fans, etc.|
|5. Executives: Mr. Seiichi Hattori (Chairman) (Also: Senior Vice President, Nidec Corporation's Head Office)|
|Mr. Masakatsu Fukai (President) (Also: Director and President, Nidec Singapore Pte. Ltd.)|
|6.Capital: INR10 million|
|7. Investing companies:|
|Singapore Pte. Ltd. (99%) and Nidec Corporation (1%)|
CONTACT: Nidec Corporation Investor Relations Masahiro Nagayasu, General Manager +81-75-935-6140 firstname.lastname@example.org
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