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Nidec Completes Acquisition of Shares in Nidec Jiangsu Kaiyu Auto Electric (Jiangsu) Co., Ltd. in China



Nidec Completes Acquisition of Shares in Nidec Jiangsu Kaiyu Auto Electric
(Jiangsu) Co., Ltd. in China

KYOTO, Japan, Dec. 28, 2012 (GLOBE NEWSWIRE) -- Following the previous
announcement on June 20, 2012 captioned "Nidec to Acquire Shares in Jiangsu
Kaiyu Auto Appliance in China," Nidec Corporation (NYSE:NJ) (the "Company")
today announced that it completed the acquisition of shares representing a 51%
ownership interest in Nidec Jiangsu Kaiyu Auto Electric (Jiangsu) Co., Ltd.
(renamed from "Jiangsu Kaiyu Auto Appliance Co., Ltd." on July 30, 2012)
("Nidec Kaiyu"), privately issued to the Company in a capital increase
transaction ("Transaction").

1. Information on Nidec Kaiyu

                                          
  (1) Company Name:                      Nidec Jiangsu Kaiyu Auto Electric
                                         (Jiangsu) Co., Ltd.
  (2) Headquarters:                      Changzhou City, Jiangsu Province,
                                         China
  (3) Representative:                    Kenji Sawamura, Chairman of the
                                         Board of Directors
  (4) Principal Businesses:              Development, manufacturing and sale
                                         of brush motors
                                         for EPS  systems and automotive fans
  (5) Total Equity:                      16.33 million yuan (following the
                                         Transaction)
  (6) Establishment:                     September 2012 (approval for
                                         establishment of
                                         foreign-invested enterprise in the
                                         PRC)
  (7) Shareholders / Ownership:          Nidec Corporation: 51%
                                         Jiangsu Luokai Mechanical and
                                         Electrical
                                         Manufacturing Group Co., Ltd.:
                                         24.99%
                                         Caohai Wang (General Manager):
                                         15.68%
                                         Other management members: 8.33%
  (8) Principal Place of Business:       China (Changzhou, Wuhan and
                                         Chongqing)
  (9) Employees:                         331
  (10) Sales in Previous Fiscal Year:    94 million yuan (unaudited pro forma
                                         consolidated
                                         sales for the year ended December
                                         31, 2011)
  (11) Directors:                         
  Chairman of the Board of Directors and Kenji Sawamura
  Representative:
   Deputy Chairman of the Board of       Xing Tang
  Directors:
   Director and General Manager:         Chaohai Wang
   Director and Deputy General Manager:  Niho Hirai
   Director:                             Kazuya Hayafune
   Director:                             Teruyuki Kai
   Director:                             Gaofeng Qiu

 

2. Future Operation Policy and Investment Plan

The Company has sought to expand its automotive motor business as one of its
pillar businesses not only through organic growth but also by actively
pursuing opportunities to acquire companies in the industry.

Nidec Kaiyu sells its products to Chinese automobile manufacturers and has
strong presence in the Chinese market, which is expected to expand and grow,
as a manufacturer of brush motors for electric power steering ("EPS")
systems. Through the Transaction, the Company seeks to acquire technologies
for brush motors for EPS systems, which the Company currently does not
possess, and business opportunities in the Chinese automobile market, new
entry into which has been difficult. In addition, the Company and Nidec Kaiyu
will aim to expand sales of brush motors for EPS systems to non-Chinese
automobile manufacturers and to emerging economies outside China by mutually
taking advantage of each other's research and development capabilities,
manufacturing facilities and sales channels.

3. Effect on Financial Performance for the Current Fiscal Year

The impact of the Transaction on the Company's consolidated financial
performance for the current fiscal year is expected to be insignificant.

The Nidec Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1734

Cautionary Statement Concerning Forward-Looking Information

This press release contains forward-looking statements regarding the intent,
belief, strategy, plans or expectations of the Company or other parties.  Such
forward-looking statements are not guarantees of future performance or events
and involve risks and uncertainties.  Actual results may differ materially
from those described in such forward-looking statements as a result of various
factors, including, but not limited to, the anticipated benefits of the
planned transaction not being realized, shifts in technology or user
preferences for particular technologies, and changes in business environments.
 The Company does not undertake any obligation to update the forward-looking
statements contained herein or the reasons why actual results could differ
from those projected in the forward-looking statements, except as required by
law.

CONTACT: Masahiro Nagayasu
         General Manager
         Investor Relations
         +81-75-935-6140
         ir@jp.nidec.com

Nidec Corporation
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