KYOTO, Japan, Nov. 20, 2006 (PRIMEZONE) -- Nidec Corporation ("Nidec") (NYSE:NJ) announced today pursuant to Article 167 of the Securities Exchange Law of Japan that it has decided to purchase 3,500,000 shares of common stock in one of its consolidated subsidiaries, Nidec Sankyo Corporation ("Nidec Sankyo"), whose shares are listed on the First Section of the Tokyo Stock Exchange (Code:7757). As a result, Nidec will hold a 56.92% stake in Nidec Sankyo.
Details of the share purchase are as follows:
1. Class of shares to be purchased:
Common Stock of Nidec Sankyo (First Section of the Tokyo Stock
Exchange, code 7757)
2. Number of shares to be purchased:
3,500,000 shares(1.83% of total outstanding shares of Nidec
Sankyo)
3. Total number of Nidec Sankyo shares to be held by Nidec:
108,788,000 shares(56.92% of total outstanding shares of Nidec
Sankyo)
Notes: The total number of Nidec Sankyo shares to be held by Nidec and its subsidiaries will amount to 112,788,000 shares.
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