Nidec announced on the 18th that it will acquire about 67% of OKK’s shares and make it a subsidiary. The company aims to become a comprehensive machine tool manufacturer with a diverse product lineup in collaboration with Mitsubishi Heavy Industries’ machine tool subsidiary (currently Nidec Machine Tool), which was completed in August.
Nidec will undertake a third-party allotment of capital by OKK for 5,478.95 million yen. With this acquisition, it is expected that “it will be possible to respond to processing needs of various sizes and the comprehensive proposal capability will increase dramatically”, and “by concentrating the technology (with Machine Tool), we currently own it. We can expect to bring products that have not been released to the market. “
In order to expand the machine tool business, the company also announced that it will accelerate the global expansion of the business by further implementing “investment required at the right place at the right time” after the acquisition is completed.
According to OKK, Nidec has approved the continuation of operations of the factory and the current management team.
On the Tokyo Stock Exchange, OKK’s stock price, which had been in a slump, has rounded up to a stop high level (upper limit of the price range).
Dennis Morris writes related to the Business Category. He manages to cover anything thrown at him in these two verticals owing to his natural inclination towards Business. Dennis is our freelance contributor. He is responsible for covering developments in finance and business categories.