This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Nidec Sankyo Completes Acquisition Of Mitsubishi Materials C.M.I. Corporation And Announces Outline Of Its New Subsidiaries

KYOTO, Japan, Jan. 6, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced that one of its wholly owned subsidiaries, Nidec Sankyo Corporation ("Nidec Sankyo"), completed the acquisition of Mitsubishi Materials C.M.I. Corporation ("CMI") from Mitsubishi Materials Corporation on January 1, 2014 (the "Transaction").

As a result of the Transaction, CMI became a wholly owned subsidiary of Nidec Sankyo, as outlined below:

1. O utline of New Subsidiaries

A. Company Names  
  Japan: NIDEC SANKYO CMI CORPORATION
  Japan: Sunseiki Co., Ltd.
  Indonesia: PT. HIGASHIFUJI INDONESIA
  Malaysia: HIGASHIFUJI (MALAYSIA) SDN. BHD
  China: Higashifuji Shanghai Co., Ltd.
     
B. Outline of NIDEC SANKYO CMI  
     
  (1) Headquarters: 46-1 Senpuku, Susono City, Shizuoka, Japan
     
  (2) Directors and Officers:  
  Representative Director and Chairman of the Board of Directors (non-executive): Kazuyoshi Yasukawa
    (Representative Director and President of Nidec Sankyo)
  Representative Director and President: Noboru Yonezawa
  Senior Vice President: Eiji Imai (Advisor to Nidec Sankyo)
  Senior Vice President: Masataka Mitsuda
  Senior Vice President: Junichi Hinuma
  Director: Satoru Suzuki
  Director (non-executive): Kazutake Akiba
    (Director and Senior Vice President of Nidec Sankyo)
  Corporate Auditor: Haruki Yuyama
  Corporate Auditor (part-time): Toshinori Uehara
    (Corporate Auditor of Nidec Sankyo)
     
  (3) Principal Locations of Operation: Shizuoka Prefecture (Japan), Toyama Prefecture (Japan), Indonesia, Malaysia, and China
     
  (4) Principal Businesses: Development, manufacturing and sale of small motors, electric contact products and other products
     
  (5) Employees: 1,522 (consolidated);
    342 (non-consolidated) 
    (as of November 30, 2013)

2.  Future Operation Policy CMI engages primarily in motor and electric contact product businesses.

CMI's motor business primarily focuses on medium-diameter stepping motors particularly for the automotive and other products markets, and CMI has established a competitive market position. On the other hand, with its own high capacity production manufacturing facilities, Nidec Sankyo has established its current competitive position in the motor market by specializing in small-diameter stepping motors for optical disk drives, digital cameras, and other products. Since CMI's product lines do not have much overlap with Nidec Sankyo's product lines, the Transaction is expected to result in enhancement of Nidec Sankyo's product line-up. In addition, the efficient use of managerial and operational resources of Nidec Sankyo and CMI is expected to result in efficient development of new products and improvement in cost competitiveness for both companies with respect to their respective motor businesses. At the same time, CMI's motor products, which have been sold mostly to Japanese customers, can be offered to new markets on a global basis through the Nidec Group's marketing channels in an effort to increase sales.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs