Nidec Completes the Acquisitions of Stock, Etc. of Mitsubishi Heavy Industries Machine Tool Co., Ltd., and Announces an Outline of Its New Subsidiaries

Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has completed yesterday, with certain exceptions, the acquisitions of: the shares of Mitsubishi Heavy Industries Machine Tool Co., Ltd. (“Mitsubishi Heavy Industries Machine Tool”), a company that designs, manufactures, and sells machine tools, cutting tools, and related products, from Mitsubishi Heavy Industries, Ltd. (“Mitsubishi Heavy Industries”); all the Mitsubishi Heavy Industries Group-owned shares of three overseas subsidiaries specialized in machine tool business; and the machine tool business run by overseas subsidiaries (the “Stock Acquisition”). These acquisitions are based on the stock purchase agreement that the Company entered into with Mitsubishi Heavy Industries on February 5, 2021, as described in the Company’s press release, “Nidec to Acquire Mitsubishi Heavy Industries Machine Tool Co., Ltd.,” issued on the same day. Those companies finished with the Stock Acquisition are now Nidec’s subsidiaries, as outlined below.