There were 1,612 press releases posted in the last 24 hours and 413,972 in the last 365 days.

Nidec Announces Completion of Tender Offer for Shares of Chaun-Choung Technology Corp., Taiwan

KYOTO, Japan, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has completed the tender offer for 48.0% of the outstanding shares of Chaun-Choung Technology Corp. (TWSE: 6230) (“CCI”) based in Taiwan which was commenced on October 3, 2018 (the “Tender Offer”), in line with its previous announcement title “Nidec Announces Fulfillment of All the Conditions of Tender Offer for Chaun-Choung Technology Corp., Taiwan” dated November 12, 2018.

This transaction does not fall under the public tender offer defined in Paragraph 1, Article 27-2 of the Financial Instruments and Exchange Act of Japan.

1.   Summary of CCI

(1) Company name Chaun-Choung Technology Corp.
(2) Headquarters 12F, No.123-1, Xingde Road, Sanchung, New Taipei City 241, Taiwan, R.O.C.
(3) Name and title of representative Chairman, Wu Shih Ling
(4) Description of business Development, manufacturing, and sales of thermal module products
(5) Capital TWD 863,433,960
(6) Date of establishment December 14, 1973
(7) Consolidated financial results and financial conditions of CCI
Accounting period  December 2015 December 2016 December 2017
Net assets TWD 3,494M  TWD 3,782M  TWD 3,599M 
Total assets TWD 6,215M  TWD 6,730M  TWD 6,489M 
Book-value per share TWD 40.47  TWD 43.80  TWD 41.68 
Sales TWD 6,044M  TWD 7,297M  TWD 7,067M 
Operating profit TWD 801M  TWD 1,194M  TWD 767M 
Net profit TWD 671M  TWD 946M  TWD 500M 
Earnings per share TWD 7.77  TWD 10.95  TWD 5.79 


2.   Number of shares acquired, cost of investment paid and shares held by Nidec Corporation before and after investment

(1) Number of shares held prior to the Tender Offer 0 shares
(Number of voting rights: 0)
(Voting rights ownership: 0.0%)
(2) Number of shares acquired 41,444,831 shares
(Number of voting rights: 41,444,831)
(3) Cost of investment Approximately TWD 4,476 million
(4) Number of shares held after the Tender Offer 41,444,831 shares
(Number of voting rights: 41,444,831)
(Voting rights ownership: 48.0%)

3.   Schedule

Completion date of stock transfer November 30, 2018

4.   Future outlook

The Tender Offer is expected to have no significant impact on Nidec’s consolidated financial performance for the fiscal year ending March 31, 2019. Nidec will make additional disclosure on a timely basis in accordance with the rules of the Tokyo Stock Exchange upon determination of further details.

Cautionary Statement Concerning Forward-Looking Information

This press release contains forward-looking statements regarding the intent, belief, strategy, plans or expectations of the Nidec Group or other parties. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, the risks to successfully integrating the acquired business with the Nidec Group, the anticipated benefits of the Tender Offer not being realized, changes in general economic conditions, shifts in technology or user preferences for particular technologies and changes in business and regulatory environments. The Nidec Group does not undertake any obligation to update the forward-looking statements contained herein or the reasons why actual results could differ from those projected in the forward-looking statements except as may be required by law.

Contact:

Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com

nidecnewlogo.jpg