The Parties will continue to negotiate in good faith with a view to transferring all remaining shares of FDM held by FES to Nidec, while carefully considering the interests of all stakeholders as well as continuous growth of the joint venture.
Purpose and Background of the Capital Alliance
Nidec, as the world's leading manufacturer of various small and mid-sized brushless motors for IT, OA, and automotive applications, has been coordinating its business efforts to interactively manage internal and external growth to maximize corporate values and shareholder returns, especially through seeking advantages of scale by expanding in the small and mid-sized motor segments.
The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734
FHC Group, with a view to building public and industrial infrastructure on a global basis, bases its strength on its power electronics technology applied to various inverter and motor applications ("Drive Business"). The Drive Business is such that it is essential to maintain a competitive edge in all motor segments, from compact to large motors, to sustain growth.
Market conditions for industrial compact motors have become increasingly cost-competitive due to rising raw material costs and rapid commoditization. Under this environment, it was determined to be in the best interest of FHC Group and its Drive Business to seek to strengthen the industrial compact motor business of FDM.
A full copy of this press release is available at: http://www.nidec.co.jp/english/ir/indexdata_e/2008/1001.pdf
This is not an offer to purchase securities in the U.S. The company does not intend to conduct the offer in the U.S. or to persons residing in the U.S.
CONTACT: Nidec Corporation Investor Relations Masahiro Nagayasu, General Manager +81-75-935-6140 ir@jp.nidec.com
Nidec Corporation
http://www.nidec.com/
ISIN: JP3734800000
Stock Identifier: OSE.NJ
US: NJ
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