KYOTO, Japan, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) announced today that it has established a new subsidiary named NIDEC MANAGEMENT SHANGHAI CORPORATION in Shanghai, China. The new subsidiary will supervise, control and coordinate the financial activities of Nidec Group companies in China as a vehicle to generate higher capital efficiency.
Outline of the New Subsidiary
| 1. Company name | |
| NIDEC MANAGEMENT SHANGHAI CORPORATION | |
| 2. Company address and contact information | |
| Address: | Room 837B, Tower 1, No. 977, Shangfeng Rd., Pudong New District, Shanghai, China |
| Telephone: | +86 (573) 85090777 (Ext.) 318 |
| Fax: | +86 (573) 85090518 |
| 3. Date of establishment | |
| November 2, 2011 (Planned date of commencing operations: January 11, 2012) | |
| 4. Capital | |
| US$ 2 million (100% invested by Nidec Corporation) | |
| 5. Executives | |
| Mr. Masuo Yoshimatsu, Chairman (Director, senior vice president and CFO of Nidec Corporation) | |
| Mr. Kiyoyoshi Takegami, President (Executive officer of Nidec Corporation) | |