Nidec Announces the Withdrawal of the Tender Offer for Makino Milling Machine Co., Ltd. (Securities Code: 6135)

KYOTO, Japan--(BUSINESS WIRE)--May 09, 2025-- 

Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) ("Nidec" or the "Company") announced that the Company decided to withdraw the acquisition of shares of common stock of Makino Milling Machine Co., Ltd. (the "Target Company") , a company listed on the Prime Market of the Tokyo Stock Exchange, Inc., through a tender offer (the "Tender Offer") effective May 9, 2025.

As announced in the press release dated April 3, 2025, titled "Notice Regarding Commencement of Tender Offer for Makino Milling Machine Co., Ltd. (Securities Code: 6135)" (as amended by and including corrections made by the press release dated April 7, 2025, titled "(Correction) Notice Regarding Partial Correction of "Notice Regarding Commencement of Tender Offer for Makino Milling Machine Co., Ltd. (Securities Code: 6135)""), Nidec Corporation resolved on April 3, 2025, by the Board of Directors to acquire shares of common stock of Makino Milling Machine Co., Ltd., a company listed on the Prime Market of the Tokyo Stock Exchange, Inc., through a tender offer in accordance with the Financial Instruments and Exchange Act of Japan (Act No. 25 of 1948, as amended), as part of a series of transactions aimed at making the Target Company a wholly owned subsidiary of the Company, and the Company commenced the Tender Offer on April 4, 2025. However, at today's Board of Directors meeting, it was determined that if an allotment of share options without contribution is implemented in accordance with the response policy to the Tender Offer, there is a possibility of causing damage to the Company, and maintaining the Tender Offer would be significantly economically unreasonable. Therefore, Nidec announced that the Company decided to withdraw the Tender Offer effective May 9, 2025. For further details, please refer to the Tender Offer Withdrawal Registration Statement that will be submitted to the Director of the Kanto Local Finance Bureau on May 9, 2025.

 
1. Name and Location of the Tender Offeror 
      Name: Nidec Corporation 
      Location: 338 Kuzetonoshiro-cho, Minami-ku, Kyoto, Japan 
 
2. Details of the Tender Offer 
(1) Name of the Target Company 
      Makino Milling Machine Co., Ltd. 
(2) Type of Share Certificates, etc. to be Purchased 
      Common Stock 
(3) Period of the Tender Offer 
      Friday, April 4, 2025, to Wednesday, May 21, 2025 (31 business days) 
 
3. Commencement Date, Method, and Place of the Return of Tendered Share 
Certificates, etc. 
(1) Commencement Date of Return 
      Friday, May 9, 2025 
(2) Method and Place of Return of Share Certificates, etc. 
      The tender offer agent will return the necessary share certificates, 
      etc. to the state at the time of tendering in the tendering 
      shareholder's account with the tender offer agent (the state at the time 
      of tendering means the state where the execution of the tendering order 
      for the Tender Offer has been cancelled). 
(3) Name and Location of Financial Instruments Business Operators and Banks 
Handling the Return of Share Certificates, etc. 
      Mita Securities Co., Ltd.        3-11 Nihonbashi Kabutocho, Chuo-ku, 
                                       Tokyo 
      Monex, Inc.                      1-12-32 Akasaka, Minato-ku, Tokyo 
 
4. Place where a Copy of the Tender Offer Withdrawal Registration Statement is 
Available for Public Inspection 
      Nidec Corporation 
      (338 Kuzetonoshiro-cho, Minami-ku, Kyoto) 
      Tokyo Stock Exchange, Inc. 
      (2-1 Nihonbashi Kabutocho, Chuo-ku, Tokyo) 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250508679744/en/

 
    CONTACT:    Teruaki Urago 

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

(END) Dow Jones Newswires

May 09, 2025 04:24 ET (08:24 GMT)