Pursuant to Article 167 of the Securities Exchange Law of Japan, Nidec Corporation (“Nidec”) announced today it has decided to purchase 5,000,000 shares of common stock in one of its subsidiaries, Sankyo Seiki Mfg. Co., Ltd.(“Sankyo Seiki”, Code:7757), whose shares are listed on the First Section of the Tokyo Stock Exchange. As a result, Nidec will increase its holding ratio for Sankyo Seiki stock to 52.27%.
Details of the Share Purchase are as follows:
1. Class of shares to be purchased:
Common Stock of Sankyo Seiki
2. Total number of shares to be purchased:
5,000,000 shares 2.82% of Sankyo Seiki’s total outstanding shares
3. Total number of Sankyo Seiki shares to be held by Nidec:
92,528,000 shares 52.27% of Sankyo Seiki’s total outstanding shares
Notes: Including the number of shares currently held by Nidec’s subsidiaries, the total number of Sankyo Seiki shares to be held by Nidec will amount to 97,528,000 shares, or 55.09% of Sankyo Seiki’s total outstanding shares.