This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nidec To Reorganize Group Companies Through Corporate Split Transactions Between Nidec And A Subsidiary And Between Subsidiaries

KYOTO, Japan, Feb. 4, 2011 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) ("Nidec") today announced that its Board of Directors determined at a meeting held today that a portion of Nidec's management over its subsidiaries and a portion of the subsidiary management by Nidec Techno Motor Holdings Corporation (a wholly owned subsidiary of Nidec, "NTMC") will be transferred to Nidec Motor Holdings Corporation (a wholly owned subsidiary of Nidec, "NMHJ") through absorption-type corporate split transactions ( kyushu bunkatsu).

The following summarizes the planned corporate split transactions through which the relevant operations are expected to be transferred to the wholly owned subsidiary of Nidec.

1. Purpose of the Planned Group Company Reorganization

In an effort to achieve its goal of becoming the world's leading manufacturer of all kinds of motors, Nidec has sought to strengthen its existing businesses and launched a new mid- to long-term growth strategy, "Vision 2015," aiming to a create a group of companies with a target sales level of 2 trillion yen in the fiscal year ending March 31, 2016. As part of the strategy, Nidec seeks to achieve further organic growth with a focus on general motors for home appliances as one of its core growth businesses.

In line with this strategic focus, Nidec has strengthened its home appliance general motor business in Europe and North America through its acquisition of Sole Motors, an Italian company, in January 2010 and its acquisition of the motors and controls business of Emerson Electric Co., a U.S. company, in October 2010. Nidec also established NMHJ in October 2010 with a plan to make it the holding company to manage the home appliance general motor business in Europe and North America.

To execute this plan, Nidec intends to reorganize the relevant group companies through the following corporate split transactions with the expected effective date being April 1, 2011. Through the proposed reorganization, Nidec seeks to streamline and further strengthen its home appliance general motor business and improve its profitability.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs