Latest news with #NidecCorp
Bloomberg
08-05-2025
- Business
- Bloomberg
Nidec Withdraws $1.8 Billion Hostile Bid for Makino Milling
Nidec Corp. withdrew its ¥257 billion ($1.8 billion) unsolicited tender offer for machine tool maker Makino Milling Machine Co. on Thursday in the face of strong opposition and possible defense measures. The acquisitive maker of precision motors was offering ¥11,000 for each Makino Milling share. The tender began despite Makino's requests for a delay until while it weighs offers from other suitors. The target company, which previously threatened to grant stock acquisition rights to existing shareholders to block the takeover, protested the move, calling it 'deeply regrettable.'
25-04-2025
- Business
Nidec Posts Record Annual Sales, Profit
News from Japan Economy Apr 25, 2025 10:29 (JST) Kyoto, April 25 (Jiji Press)--Nidec Corp. said Thursday that its consolidated sales and net profit both hit a record high in the year that ended in March thanks to strong demand for hard disk drive motors for data center servers for artificial intelligence. The Japanese precision motor maker posted a net profit of 167,688 million yen, up 34.7 pct from the previous year, on sales of 2,607 billion yen, up 11.1 pct. For the year that ends in March 2026, Nidec expects its net profit to jump 19.3 pct to another record of 200 billion yen, though sales are projected to fall 0.3 pct to 2.6 trillion yen. END [Copyright The Jiji Press, Ltd.] Jiji Press
Bloomberg
26-03-2025
- Business
- Bloomberg
Makino Milling's Union Says It's Against Any Takeover by Nidec
Makino Milling Machine Co. 's official labor union reiterated its opposition to Nidec Corp. 's $1.6 billion offer to acquire the machine tool maker, arguing that the business sense of any deal was unclear. Members of the union said in a news conference Wednesday that they remain against a takeover by Kyoto-based Nidec, adding that the maker of precision equipment has failed to allay their concerns about its unsolicited bid initiated in December.
