KYOTO, Japan, Nov. 16, 2006 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) announces that Nidec-Read Corporation (the "Company"), one of its consolidated subsidiaries whose shares are listed on the Second Section of the Osaka Securities Exchange (Code:6833), has resolved as follows at a meeting of its Board of Directors held today in connection with the secondary offering of its shares.
The Company's current institutional shareholders will offer 550,000 shares of common stock and the underwriters will be granted an over-allotment option of up to 75,000 additional shares in connection with the offering. Through the offering, the Company aims to diversify its shareholder distribution and enhance the liquidity of its shares in the market.
Full copy of the press release: http://www.nidec.co.jp/english/ir/indexdata_e/2006/1116.pdf
About Nidec-Read Corporation
Nidec-Read Corporation, based in Japan, is a leading provider of testing equipment for printed circuit boards, semiconductor packages, and display panels for use in IT devices, including telecommunications equipment and digital appliances. For more information on Nidec-Read and its products and services, visit the company's websites at: http://www.nidec-read.co.jp/english/index.html
The purpose of this press release is to make a general public statement of the sale of shares of common stock of Nidec-Read Corporation. It has not been prepared for the purpose of soliciting investments in such common stock. Such common stock will not be and has not been registered under the United States Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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