Nidec Announces Notice Regarding the Completion of Purchase and Settlement of Tendered Shares Certificates, etc. in Tender Offer of Takisawa Machine Tool Co., Ltd. (Securities Code: 6121) and its Entry to Nidec Group

Rhea-AI Summary

Nidec Corporation (NJDCY) announces the completion of the purchase and settlement of all tendered share certificates of Takisawa Machine Tool Co., Ltd. This acquisition results in Nidec owning 86.14% of the voting rights in the Target Company, making it a member of Nidec Group. Nidec aims to enhance corporate value by adding the Target Company's lathes to its machine tool business portfolio and creating synergies within the group. Squeeze-out procedures will be carried out to make the Target Company a wholly owned subsidiary of Nidec.

Positive

• Nidec's acquisition of Takisawa Machine Tool Co., Ltd. expands its machine tool business portfolio and positions it to become the world's No.1 comprehensive machine tool manufacturer. The creation of synergies within the Nidec Group is expected to enhance corporate value for both Nidec and the Target Company.

Negative

• None.

KYOTO, Japan--(BUSINESS WIRE)-- As announced in the press release dated November 14, 2023, “Notice Regarding the Results of the Tender Offer for Takisawa Machine Tool Co., Ltd. (Securities Code: 6121)”, in the tender offer conducted by Nidec Corporation in accordance with the Financial Instruments and Exchange Act (Act No. 25 of 1948, as amended) and related laws and regulations (the “Tender Offer”), regarding the common shares issued by Takisawa Machine Tool Co., Ltd. (listed on the Standard Market of the Tokyo Stock Exchange, Inc. Securities Code: 6121. the “Target Company”), the total number of the share certificates, etc. tendered for the Tender Offer (the “Tendered Share Certificates, etc.”) exceeded the minimum number to be purchased in the Tender Offer, and therefore Nidec Corporation was scheduled to purchase, etc. all of the Tendered Share Certificates, etc.

Today, we would like to announce that Nidec Corporation has completed the purchase, etc. and settlement of all of the Tendered Share Certificates, etc. of 5,502,183 shares in total through Mita Securities Co., Ltd. and Monex Inc. (subagent). As a result, we own 86.14% of the voting rights in the Target Company and it has become a member of Nidec Group. The Target Company's lathes will be newly added to Nidec’s machine tool business portfolio, and under the goal of becoming the world's No.1 comprehensive machine tool manufacturer, we aim to enhance not only the Target Company’s corporate value but also an entire corporate value of Nidec group by creating synergies between Nidec Group and the Target Company.

We will advance and carry out squeeze-out procedures through consolidation of shares in the Target Company in order to make the Target Company our wholly owned subsidiary as soon as possible.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231119078165/en/

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What is the impact of Nidec's acquisition of Takisawa Machine Tool Co., Ltd.?

Nidec's acquisition expands its machine tool business portfolio and aims to make the Target Company a wholly owned subsidiary, enhancing corporate value.

How many share certificates did Nidec purchase?

Nidec purchased a total of 5,502,183 share certificates of Takisawa Machine Tool Co., Ltd.

What is the percentage of voting rights Nidec now owns in the Target Company?

Nidec now owns 86.14% of the voting rights in the Target Company, making it a member of Nidec Group.

How will Nidec enhance corporate value through the acquisition?

Nidec aims to enhance corporate value by adding the Target Company's lathes to its machine tool business portfolio and creating synergies within the group.