Nidec Announces Changes to the Press Release, “Notice Regarding Commencement of Tender Offer for Takisawa Machine Tool Co., Ltd. (Securities Code: 6121)” due to Changes in Conditions to the Tender Offer to the Company

Rhea-AI Summary

Nidec Corporation has decided to acquire the common shares of Takisawa Machine Tool through a tender offer. The total number of Tendered Share Certificates reached 3,193,900, meeting the minimum number of shares to be purchased. The Tender Offer Period has been extended until November 13, 2023.

Positive

• Nidec Corporation plans to acquire Takisawa Machine Tool through a tender offer, indicating a potential positive move for the company's stock price.

Negative

• None.

KYOTO, Japan--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 6594)(OTC US: NJDCY) (the “Tender Offeror”) decided on September 13, 2023 to acquire, through a tender offer under the Financial Instruments and Exchange Act (Act No. 25 of 1948, as amended, the “Act”) and related laws and regulations (the “Tender Offer”), the common shares (the “Target Company Shares”) of Takisawa Machine Tool Co., Ltd. (Securities Code: 6121. The “Target Company”), which is listed on the Standard Market of the Tokyo Stock Exchange, Inc. (the “Tokyo Stock Exchange”), and launched the Tender Offer on September 14, 2023. The Tender Offeror confirmed on October 27, 2023 that the total number of the Tendered Share Certificates reached 3,193,900, the minimum number of shares to be purchased in the Tender Offer. Accordingly, as explained in the Public Notice of Commencement of the Tender Offer submitted on September 14, 2023 (including the matters amended based on the amendment to the tender offer registration statement for the Tender Offer submitted on September 21 and October 10, 2023: the same shall apply hereinafter), the Tender Offeror, for the purpose of securing a tender offer period of 10 business days from today, decided to extend the period for the Tender Offeror to acquire the Target Company’s common shares in the Tender Offer (the “Tender Offer Period”) until November 13, 2023. Accordingly, as it became necessary for the Tender Offeror to correct part of the explanation in the Public Notice of Commencement of the Tender Offer submitted on September 14, the Tender Offeror submitted an amendment to the Tender Offer Registration Statement to make such correction, based on Article 27-8, Paragraph 2 of the Act.

Thus, the Tender Offeror amends part of the September 21, 2023 press release, “Notice Regarding Commencement of Tender Offer for Takisawa Machine Tool Co., Ltd. (Securities Code: 6121)” (including the October 10, 2023 press release, “Notice Regarding Changes to the Press Release, “Notice Regarding Commencement of Tender Offer for Takisawa Machine Tool Co., Ltd. (Securities Code: 6121)” due to Submission of Amended Statement of Public Notice of Commencement of the Tender Offer, and Changes to the Notice Regarding Commencement of the Tender Offer”: the same shall apply hereinafter).

Please see Nidec’s website for more information. https://www.nidec.com/en/ir/news/2023/news1027-01/

View source version on businesswire.com: https://www.businesswire.com/news/home/20231027799021/en/

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What is Nidec Corporation's plan for Takisawa Machine Tool?

Nidec Corporation plans to acquire Takisawa Machine Tool through a tender offer.

What is the total number of Tendered Share Certificates?

The total number of Tendered Share Certificates reached 3,193,900.

What is the extended Tender Offer Period?

The Tender Offer Period has been extended until November 13, 2023.