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Slide #88. Nidec Corporation — Honda Elesys Co., Ltd.
Nidec Corporation (NJ)
Honda Elesys Co., Ltd.
Nidec Corporation (NYSE:NJ) (the "Company" or "Nidec") today announced that it has agreed to acquire all of the shares of Honda Elesys Co., Ltd. ("Elesys") from its shareholders, Honda Motor Co., Ltd. ("Honda"), NEC Corporation, Showa Corporation and Nissin Kogyo Co., Ltd. (the shareholders are correctly referred to as the "Shareholders") (the "Transaction"). For this purpose, the Company entered into a stock purchase agreement (the "Stock Purchase Agreement") with each of the Shareholders as of today.
NIDEC and its subsidiaries are primarily engaged in the design, development, manufacture and marketing of small precision motors, mid-size motors, machinery, electronic and optical components, and other products. Co.'s principal products are spindle motors for hard disk drives, motors for optical disk drives, small precision fans and other small motors; mid-size motors; test systems, measuring equipment, power transmission equipment, factory automation systems, card readers and industrial robots; camera shutters, camera lens units, switches, trimmer potentiometers, motor driven actuator units, processing and precision plastic mold products; and auto parts and pivot assemblies.
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Strong Buy (4.00 out of 4)
(ranked lower than approx. 61% of all stocks covered)
Based on Zacks ABR data;
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