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Nidec Completes Acquisition Of Honda Elesys Co., Ltd. And Announces Outline Of Its New Subsidiaries

Stocks in this article: NJ

KYOTO, Japan, March 31, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company" or "Nidec") today announced that it has completed the acquisition of all of the shares in Honda Elesys Co., Ltd. ("Elesys") from Honda Motor Co., Ltd., NEC Corporation, Showa Corporation and Nissin Kogyo Co., Ltd. on March 31, 2014 (the "Transaction").

As a result of the Transaction, Elesys became a consolidated subsidiary of Nidec, as outlined below:

1. O utline of New Subsidiaries

A. Company Names



(1) Headquarters: North Square I, Yokohama Business Park
  134 Godo-cho, Hodogaya-ku, Yokohama City, Kanagawa, Japan
(2) Directors and Officers:  
Representative Director and Chairman  Bunsei Kure
of the Board of Directors (non-executive): (Director and Executive Vice
  President of Nidec)
Representative Director and President: Katsuhiko Takebe
Senior Vice President: Mitsuhiro Ohama
Senior Vice President: Toshiyuki Mieno
Director: Michihiro Kumashiro
Director: Toshiyuki Taniguchi
Director: Sunao Saeki
Director (non-executive): Kazuya Hayafune
  (Director and First Senior Vice
  President of Nidec)
Director (non-executive): Toyohei Nakajima
  (Vice President of Nidec)
Corporate Auditor: Kenji Kamijo
Corporate Auditor (part-time): Yoshihisa Kitao
  (Vice President of Nidec)
(3) Principal Locations of Operation: Kanagawa Prefecture (Japan), US, China, and Thailand
(4) Principal Businesses: Development, manufacturing and sale of automobile electronic control units for car bodies
(5) Employees: 875 (as of March 2014, consolidated)

2.  Future Operation Policy

Elesys is one of the world-leading electronics system manufacturers that develops, manufactures and sells electronic control units for automobiles.

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