Fri, 04/22/2016 - 16:06

KYOTO, Japan (April 22, 2016) -- Nidec Corporation announced that it agreed to acquire approximately 94.8 percent of the shares of ANA IMEP S.A. (IMEP) from its major shareholder. For this purpose, Nidec entered into a share purchase and transfer agreement with the major shareholder of IMEP on April 21. Nidec aims to achieve sales of 2 trillion yen, operating margin ratio above 15 percent and return on equity (ROE) above 18 percent in FY 2020 through organic growth and acquisitions under its mid-term growth strategy. The company is actively moving forward with the development of new growth platforms with particular emphasis on automotive, appliance, commercial and industrial motors and solutions. Under such strategy, Nidec recognizes the importance of building a cost-efficient and high-profitability structure through the optimization of production globally. Through the transaction, the company expects to enhance the competitiveness of its appliance motor business in the European market and obtain IMEP’s major customers. In addition, the company intends to build a major manufacturing base in an emerging European Union market for its Appliance, Commercial and Industrial Motors business (ACIM). With the expansion of ACIM globally, it is essential to expand its production capacity in Europe, especially in a cost-efficient country. The location of IMEP is suitable as a manufacturing base, because Romania is a cost-efficient country with a qualified labor force. The company intends not only to utilize IMEP’s sizable premises and facilities, including a manufacturing factory for the appliance business, but also newly make investments and enhance its production capacity for the commercial and industrial business so that the company can establish an optimal production structure globally. In the future, the company intends to build up IMEP not only as its production base but also as an engineering center and a shared-service center (call center, accounting, procurement, marketing, etc.) of ACIM. Nidec intends to make appropriate disclosure of the impact of the transaction on its consolidated financial performance for the current fiscal year and announce any changes to its financial performance in accordance with the applicable rules of the Tokyo Stock Exchange and the New York Stock Exchange once such details are determined.