Nidec
Assembly Line
Japan's Nidec takes aim at Makino Milling with $1.6 bln unsolicited bid
Japanese manufacturing giant Nidec plans to launch a 257 billion yen ($1.6 billion) bid for Makino Milling Machine, a surprise unsolicited takeover offer in a country better known for agreed deals. Nidec said Makino’s board had not agreed to the 11,000 yen per share offer, a 42% premium to Thursday’s closing share price, as it had not proposed the bid before announcing it. The world’s top manufacturer of precision motors said it plans to clear regulatory processes by early April and launch the tender offer on April 4, even without Makino’s consent.
A reform push by the Tokyo exchange has also sparked a slew of share buybacks, unwindings of cross-shareholdings and management buyouts. Nidec last year acquired Takisawa Machine Tool after making a 16.6 billion yen unsolicited takeover offer. Nagamori told the Nikkei newspaper this month that Nidec was on the hunt for a purchase as big as 1 trillion yen and was eyeing three potential targets in Europe and the United States.
Takisawa Consolidates Shares and Becomes a Wholly Owned Subsidiary of Nidec
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) announced that Takisawa Machine Tool Co., Ltd. (“Takisawa”) has passed a resolution at its extraordinary general meeting of shareholders held on January 12, 2024, to consolidate 900,000 of its common shares into one, and that the consolidation has taken effect. With this share consolidation, Takisawa has become a wholly owned subsidiary of the Company.
Takisawa is already deepening its ties with the Nidec Group in a variety of areas including management, business, and administration. Going forward, to achieve the target of becoming the world’s leading comprehensive machine tool manufacturer, the Nidec Group will make decisions swiftly for Takisawa and manage it efficiently for its businesses’ expansion and growth.
Nidec Completes Acquisition of Automatic Feed Company and Related 2 Companies, US-based Press Machine Equipment Manufacturers
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) today announced that the Company has acquired full ownership of Automatic Feed Company, Lasercoil Technologies LLC, and Automatic Leasing Company, privately- owned US companies (collectively the “Target”), from its founding family on August 1, 2023 (the “Transaction”). As a result of the Transaction, the Target became a consolidated subsidiary of Nidec.
Nidec CEO uses his Midas touch for machine tool unit turnaround
Nagamori himself is leading the charge to revive money-losing OKK as Nidec seeks to turn robot components and machining equipment into a new growth engine. Manpower shortages are driving the growth of industrial robots. “As artificial intelligence evolves, factories will become unmanned, and demand for industrial robots will soar,” Nagamori said.
OKK’s high-precision machining centers are not only essential for producing many robot components, but also use gear reducers themselves, adding another complementary connection.