KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 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, as outlined below:
1. Outline of the New Subsidiary
Automatic Feed Company
Lasercoil Technologies LLC
Automatic Leasing Company
|Napoleon, Ohio, United States|
|Manufacturing, sales and service base: Napoleon, Ohio, United States|
Principal of businesses
|Manufacturing, sales and service for press peripheral equipment|
Number of employees
|The fiscal year ended
December 31, 2022
37 million USD
2. Target’s Strengths
The Target is an Ohio, U.S.-based company that manufactures and sells peripheral equipment for medium and large presses and sheet metal cutting equipment for presses. The Target has strong ties with major U.S. automakers and Tier 1 suppliers, and holds a 70% of market share on certain segments of peripherals equipment for auto body parts press machine lines. The Target offers its products and services to not only U.S. but also Japanese major automakers.
The Target's laser blanking technology has the flexibility to be programmed to accommodate a variety of products and applications, with high precision blanking.
3. Nidec’s Press Machine Business
Nidec Minster, Nidec Drive Technology (Kyori press-machine), Nidec Arisa, Nidec Vamco, Nidec SYS, Nidec CHS
The fiscal year ended March 31, 2023
66.9 billion yen
Small high-speed presses, medium-sized presses, large presses, peripheral equipment
Japan, China, U.S.A., Mexico, Germany, Spain
Number of employees
4. Synergies with our group
Through our Press Machine Business companies, we have expanded our press machine manufacturing, sales, and service business globally, as well as increased our lineup of presses and peripheral equipment products with M&As.
With the addition of the Target, we will be able to offer a wide range of products and services to our customers and pursue following synergies in terms of products, sales, and technology.
Combine the Target’s equipment with Minster and Arisa’s medium and
large presses, offering a complete line on a turnkey basis.
Expand sales of Minster and Arisa presses to automotive customers based
in North America.
Incorporation of laser blanking technology is our portfolio of products.
5. Effect on Financial Performance for the Current and Next Fiscal Year
The transaction is expected to have no significant impact on the Company’s consolidated financial performance for this fiscal year ending March 31, 2024. If necessary, the Company will make additional disclosure on a timely basis in accordance with the rules of the Tokyo Stock Exchange upon determination of further details.