As a result of the Transaction, the Acquired Company, comprised of the companies listed below, has become a subsidiary of Nidec. The remaining acquisitions, including Leroy Somer Electro-Technique (Fuzhou) Co., Ltd., will be completed as planned before September 30, 2017.
Nidec has been actively developing a new growth platform with a particular focus on industrial and commercial businesses. In line with this strategy, the transaction allows Nidec to further enhance and expand its industrial and commercial businesses to flexibly meet evolving customer needs. The acquired company has a strong brand, a solid business foundation, and an excellent customer base, particularly in Europe and North America.
Nidec expects to accelerate the growth of the acquired business with the anticipated synergies, including 1) complementary products fitting with the full range of industrial products and geographic regions and 2) improved proposition to customers by combining the Acquired Company's units with Nidec's existing products.
We believe the Transaction will accelerate the Company's growth by integrating significant technological capabilities, recognized brands, and excellent customer bases from both Nidec and the Acquired Company, and will contribute to achieving its medium-term growth target of two trillion yen in sales by the fiscal year ending March 2021.
Once we determine the impact of the Transaction on our financial performance for the current fiscal year, we will make the appropriate disclosure in accordance with the rules of the Tokyo Stock Exchange, and announce any changes to our forecasts as required.
Andreas Richter will replace Eugen Elmiger as CEO of the maxon Group in March 2027
The maxon Group will make a change in its executive leadership in March 2027. Eugen Elmiger will step down as CEO after 15 years at the helm of the company and will be replaced by Andreas Richter, currently Chief Operating Officer (COO) and Deputy CEO.
