Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the completion of a significant regulatory milestone in its planned acquisition of Makino Milling Machine Co., Ltd., a Tokyo Stock Exchange Prime Market-listed company. As of 11:59 p.m. on January 21, 2025 (Eastern Standard Time) in the United States, or 1:59 p.m. on January 22, 2025, in Japan, the waiting period mandated by the US Hart-Scott-Rodino Antitrust Improvements Act of 1976 has officially expired.
This marks the fulfillment of one of the key procedural requirements for the transaction, aimed at making Makino Milling Machine a wholly owned subsidiary of Nidec. The company previously outlined this milestone in its press release dated December 27, 2024, regarding the commencement of a tender offer. Nidec has assured stakeholders that it will announce the completion of other necessary regulatory approvals for merger control and foreign investment restrictions in various jurisdictions as they are finalized.
Nidec, headquartered in Kyoto, Japan, has a storied history dating back to its founding in 1973 by Chairman Shigenobu Nagamori. The company achieved a significant breakthrough in 1979 by becoming the first to commercialize a direct-drive spindle motor for hard disk drives (HDDs) utilizing a brushless DC motor.
Over the years, Nidec has evolved into a global leader in motor manufacturing, with a diverse product portfolio that includes motors, drives, and generators. These products are integral to applications spanning computers, smartphones, home appliances, automobiles, robotics, manufacturing plants, and more.
Today, Nidec boasts a robust global presence, with over 300 subsidiaries and a workforce exceeding 100,000 employees worldwide. The company’s annual sales surpass $18 billion, underscoring its position as a leading innovator and provider of motor technology in industries ranging from consumer electronics to advanced industrial systems. This latest acquisition aligns with Nidec’s strategic objectives, further solidifying its leadership in the motor and manufacturing solutions market.
