KYOTO, Japan, March 27, 2006 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) (the "Company") announced today the establishment of new manufacturing subsidiaries in Vietnam and China.
The details are as follows:
Outline of the new subsidiary in Vietnam Company Name: Nidec Vietnam Corporation Location: Lot No. I1-N2, Saigon High-Tech Park, Dist 9, Hochiminh City, Vietnam Established: October 2005 Paid-in Capital: US$11 million (Wholly owned by the Company) Board Members: Chairman of the Board Kenji Sawamura Vice Chairman Kunihiko Nishihara President Takeo Tamura Director Hiroshi Kobe Description of Business: Manufacture of fan motors Start of Operation: June 2006 Outline of the new subsidiary in China Company Name: Nidec Automobile Motor (Zhejiang) Corporation Location: 1000 Huanbei 2'nd Rd #65292;Pinghu Economic Development Zone, Zhejiang, China Established: February 2006 Paid-in Capital: US$10 million (70% paid by the Company, 30% by Nidec (Dalian) Limited) Board Members: Chairman of the Board Kenji Sawamura President Akizumi Chimura Director Hideyuki Ishii Description of Business: Manufacture of motors and components for automotive applications, including power steering system Start of Operation: July 2006
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