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 Resolves To Make Nidec Copal Corp., Nidec Tosok Corp. And Nidec Seimitsu Corp. Its Wholly Owned Subsidiaries

KYOTO, Japan, April 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation ("Nidec") (NYSE:NJ) announced today that, at its board meeting held today, it has resolved to implement share exchange transactions to make Nidec Copal Corporation ("Nidec Copal"), Nidec Tosok Corporation ("Nidec Tosok") and Nidec Seimitsu Corporation ("Nidec Seimitsu") wholly owned subsidiaries of Nidec and agreed accordingly with the respective companies. The background of the resolution is as follows.

The business environment surrounding Nidec remained difficult throughout the fiscal year 2012 against the backdrop of a persistent macroeconomic weakness, evidently characterized by the prolonged EU debt crisis and milder-than-expected demand growth in emerging countries, including China. Despite the signs of bottoming out seen towards the end of the last fiscal year, as illustrated by the gradual improvement in the U.S. economy tied to the government's monetary easing measures and growing anticipations for the Japanese companies turning around on depreciated Yen, the uptrend still fell short of improving Nidec Group's business environment in general.

Since undergoing a notable decline in demand for some of its key products used in PCs, digital cameras and liquid-crystal-display panel manufacturing facilities in the second half of the fiscal year, Nidec Group has focused single-mindedly on reshaping its earnings structure to emerge stronger from the increasingly fierce global competitions. As part of the structural reform initiatives, Nidec Group has decided to take a new direction to build on its collective strength by bringing out the best in each of its group companies.   

As a result, the company determined that it would be valuable to expand corporate values not only of Nidec Copal, Nidec Tosok and Nidec Seimitsu but of the entire Nidec Group for the purpose of achieving prompt decision-makings and flexible business managements and enhancing the whole group synergies by making Nidec Copal and Nidec Seimitsu, of which businesses are overlapping in small precision motor areas and Nidec Tosok, of which business is overlapping in vehicle installation area, wholly owned subsidiaries of Nidec.

1 of 2

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs