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

Stocks in this article: NJ

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: Sunseiki Co., Ltd.
  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.

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