KYOTO, Japan, June 8, 2006 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) (Tokyo, Osaka:6594) announced today that one of its wholly owned sales subsidiaries Nidec (Shanghai) International Trading Co., Ltd. has opened a branch office within Dalian Free Trade Zone ("DFTZ"), part of the Economic and Technological Development Zone in Dalian, China.
DFTZ is a government-designated bonded area and thus regards goods entering it from or leaving it for countries outside China exempt from import/export duty. Situated in DFTZ, the new office, named Nidec (Shanghai) International Trading Co., Ltd. Dalian F.T.Z. Branch (the "DFTZ Branch"), is entitled to preferential treatment, including simplified customs procedures, liberal foreign exchange privileges and absence of quotas.
With an effective regional management in view, Nidec (Shanghai) International Trading Co., Ltd. plans to delegate part of its responsibilities to the DFTZ Branch. Business with existing IT device and home electronics customers based in North and Northeast China is falling under the responsibility of the DFTZ Branch, which is expected to help Nidec (Shanghai) International Trading Co., Ltd. to extend its business reach into a broader area of East and Central China.
Outline of the DFTZ Branch
1. Company Name: Nidec (Shanghai) International Trading Co., Ltd.
Dalian F.T.Z. Branch
2. Location: Room #900, Inn Fine Hotel, No.135, Jinma Road,
Economic and Technological Development Zone,
Dalian, China,
Zip code: 116600
Tel: 0411-8753-6693
Fax: 0411-8762-2693
3. Representative: Asuka Iijima
4. Commencement of operation: June 5, 2006.