{"id":29429,"date":"2012-06-20T11:48:00","date_gmt":"2012-06-20T11:48:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/nidec-nj-to-acquire-shares-in-jiangsu-kaiyu-auto-appliance-in-china\/29429\/"},"modified":"2012-06-20T11:48:00","modified_gmt":"2012-06-20T11:48:00","slug":"nidec-nj-to-acquire-shares-in-jiangsu-kaiyu-auto-appliance-in-china","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/nidec-nj-to-acquire-shares-in-jiangsu-kaiyu-auto-appliance-in-china\/29429\/","title":{"rendered":"Nidec &#8211; NJ &#8211; To Acquire Shares in Jiangsu Kaiyu Auto Appliance in China"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>Nidec Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=NJ\">NYSE: NJ<\/a>)<\/strong> announced that it has agreed to acquire shares in Jiangsu Kaiyu Auto Appliance Co., Ltd., a Chinese company , to be privately issued to the Company in a capital increase transaction, and entered into an agreement for the Transaction with Jiangsu Luokai Mechanical and Electrical Manufacturing Group Co., Ltd.\u00a0 and the other shareholders of Kaiyu. Immediately following the Transaction, the Company is expected to hold a 51% ownership interest in Kaiyu. Details of the Transaction are set forth below.<\/p>\n<p><strong>Purpose of the Transaction<\/strong><\/p>\n<p><strong><\/strong>The Company has sought to expand its automotive motor business as one of its pillar businesses not only through organic growth but also by actively pursuing opportunities to acquire companies in the industry.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Kaiyu sells its products to Chinese automobile manufacturers and has strong presence in the Chinese market, which is expected to expand and grow, as a manufacturer of brush motors for electric power steering (\u201cEPS\u201d) systems. Through the Transaction, the Company seeks to acquire technologies for brush motors for EPS systems, which the Company currently does not possess, and business opportunities in the Chinese automobile market, new entry into which has been difficult.<\/p>\n<p>In addition, the Company and Kaiyu will aim to expand sales of brush motors for EPS systems to non-Chinese automobile manufacturers and to emerging economies outside China by mutually taking advantage of each other\u2019s research and development capabilities, manufacturing facilities and sales channels.<\/p>\n<p><strong>Expected Schedule of the Transaction<\/strong><\/p>\n<ul>\n<li>First Payment Date (20% of Total Consideration): After obtaining certificate of approval for establishment of enterprise with foreign investment in the PRC (expected in early September 2012)<\/li>\n<li>Second Payment Date (80% of Total Consideration): Within 3 months of obtaining business license<\/li>\n<\/ul>\n<p><strong>About Nidec Corporation \u00a0&#8211; NJ<\/strong><\/p>\n<p>Nidec Corporation (NJ) \u00a0is a global manufacturer of electric motors, and related components and equipment. The Company has 14 operating segments. NJ is engaged in the manufacture and sale of precious small motors, general motors, equipment, electric and optical components, automobile parts and others. As of March 31, 2011, the Company had 158 subsidiaries and two associated companies. On July 1, 2011, the Company acquired SANYO Seimitsu Co., Ltd. On November 2, 2011, the Company established a wholly owned subsidiary in Shanghai, China. On March 8, 2012, the Company became the top shareholder of NIDEC-READ CORPORATION, with 61.75% voting rights in NIDEC-READ CORPORATION. On June 1, 2012, the Company completed the acquisition of all of the shares in Ansaldo Sistemi Industriali S.p.A.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120621105900\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fthestockmarketwatch.com%2Fstock-market-news%2Fnidec-nj-to-acquire-shares-in-jiangsu-kaiyu-auto-appliance-in-china%2F29429&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-4\/29482\">\nGold Prices Edge Lower<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-36\/29455\">\nStocks End on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-marginally-lower-after-fed-policy-statement\/29454\">\nStocks Marginally Lower after Fed Policy Statement<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-lower-ahead-of-fed-decision-silver-prices-in-green\/29448\">\nGold Prices Lower ahead of Fed Decision; Silver Prices in Green<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/quest-software-qsft-amended-its-previously-announced-merger-agreement-with-affiliates-of-insight-venture-partners\/29428\">\nQuest Software &#8211; QSFT &#8211;  Amended its previously announced merger agreement with affiliates of Insight Venture Partners<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-struggle-for-direction-ahead-of-fed-decision\/29445\">\nStocks Struggle for Direction Ahead of Fed Decision<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/nidec-nj-to-acquire-shares-in-jiangsu-kaiyu-auto-appliance-in-china\/29429\">\nNidec &#8211; NJ &#8211; To Acquire Shares in Jiangsu Kaiyu Auto Appliance in China<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nidec Corporation (NYSE: NJ) announced that it has agreed to acquire shares in Jiangsu Kaiyu Auto Appliance Co., Ltd., a 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