Nidec Completes Tender Offer for Japan Servo
KYOTO, Japan, April 24, 2007 (PRIME NEWSWIRE) -- Nidec Corporation ("Nidec") (NYSE:NJ) announced today that it has completed its tender offer for Japan Servo Co., Ltd. ("Japan Servo") (Tokyo Stock Exchange Second Section: 6585).
The tender offer, which commenced on Wednesday, March 14, 2007, expired on Monday, April 23, 2007, Japan time. Nidec received valid acceptances of 18,203,000 shares (or 51.77 percent) of common stock in Japan Servo for 260 yen per share (or 4,733 million yen). As a result, Japan Servo will become a consolidated subsidiary of Nidec on Friday, April 27, 2007.
The Nidec Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1734
CONTACT: Nidec Corporation Hiroshi Toriba, Senior General Manager, Investor Relations +81-75-935-6140 HIROSHI_TORIBA@notes.nidec.co.jp