KYOTO, Japan, July 7, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced that it will establish the "Nagamori Award" for motor-related technologies. 1. Purpose of the Nagamori Award Since its foundation, Nidec has been specializing in business for "everything that spins and moves." Now, with its group companies operating in 32 counties around the world, the Company is continuously growing as the "world's No.1 comprehensive motor manufacturer." Motors, invented in the early 19 th century, are used in all kinds of electric products around us, and are indispensable in our lives. Used in a number of places, motors are believed to consume approximately one half of all electricity generated in the world. This is why the research and development of motors holds significant importance to both enrichment of our lives and perpetual conservation of the global environment. The Nagamori Award aims to further enhance the research and development of motors and motor-related technologies and to support young to middle-level engineers working dedicatedly for their dreams every day. 2. Overview of the Nagamori Award
|Areas covered||Motor, motor control, motor application technology, and other motor-related technological fields|
|Application requirements||Applicants must be young to middle-level R&D engineers who are members of university, public organization, private company, etc. across the world, with outstanding achievement.*|
|*Applicants must attend the commendation ceremony, prepare and submit necessary documents, and give an award lecture.|
|Application method||Applicants must be recommended by an academy or nominate themselves. *|
|*When nominating themselves, applicants must submit a recommendation letter from an academy or the organization that the applicants belong to.|
|Commendation||The Nagamori Award will be granted to 3-5 people every year. The person to receive the Grand Award of the Nagamori Award will be announced at the commendation ceremony.|
|Award: 5 million yen for the Grand Award of the Nagamori Award, and 1 million yen for the Nagamori Award.|
The schedule for FY2015, the first year of the "Nagamori Award", is planned as follows:
|Early September 2014||Announcement of information for the applicants (on the Company's website)|
|November 1, 2014||Starting date for application|
|January 31, 2015||Closing date for application|
|Mid-May 2015||Announcement of award recipients (on the Company's website)|
|August 30, 2015||Commendation ceremony|
- The Nagamori Award will be offered from the private fund of Mr. Shigenobu Nagamori, Chairman of the Board, President and CEO of the Company.
- The Nagamori Award will be administered by the Company.
- The commendation ceremony is planned to be held at a hotel in Kyoto, Japan.
CONTACT: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 email@example.com