Nidec to Acquire Sole Motors Through Nidec Techno Motor Holdings Corporation

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KYOTO, Japan, Oct. 19, 2009 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ - News) today announced that its consolidated subsidiary Nidec Techno Motor Holdings Corporation (NTMC) has agreed with Appliances Components Companies S.p.A. (ACC) to acquire 100% of the shares of Sole Motors, a special purpose vehicle to which the household motor business of ACC is expected to be transferred, and entered into a Quota Purchase Agreement on October 20, 2009.

 1. Purpose of Transaction

    NTMC plans to bring Sole Motors under its umbrella alongside its
    subsidiary Nidec Shibaura's household motor business in order to
    leverage Sole Motors' strong market position and customer
    relationships in Europe. Amid heightening global awareness of
    environmental issues, Nidec expects that the introduction of its
    carbon emission-reducing brushless motor technology to Sole
    Motors will make possible development of environmentally
    friendly, next-generation products that will meet the needs of
    various European customers. Through the acquisition, Nidec Group
    aims to strengthen and expand its small and mid-sized motor
    business.

 2. Sole Motors

    (1) Company Name:          Sole Motors
    (2) Headquarters:          Pordenone, Italy
    (3) Facilities:            Italy, Hungary
    (4) Business Description:  Household motor
                                (washing machine, dryer, dish washer)
                                manufacturing, development and sales
    (5) Employees:             1,181
    (6) Recent Financial Information
        (Unaudited pro forma basis for fiscal year ending in December)

                                                (Million Euro)
        ------------------------------------------------------
                                      2006      2007      2008
        ------------------------------------------------------
        Net sales                    210.9     199.2     190.1
        ------------------------------------------------------

   (7)  Description of Appliances Components Companies S.p.A.

        Headquarters:          Pordenone, Italy
        Established:           April 2002
        Business Description:  Household Compressor Manufacturing,
                                Development and Sales
                               Household Motor
                                Manufacturing, Development and Sales
                               Industrial Motor Manufacturing,
                                Development and Sales
        Main Products:         Household and Commercial Refrigeration
                                Compressors
                               Washing machine, dryer and dishwasher
                                electric motors
        Facilities:            Europe: Italy, Hungary, Germany,
                                       Austria, Spain
                               Asia:   China

 3. Transaction Structure

    NTMC will acquire 100% of the shares of Sole Motors from ACC.
    Since the household motor business of ACC subject to the
    transaction is currently conducted by ACC and ACC Hungary, prior
    to the transaction, ACC is expected to transfer its household
    motor business into a special purpose vehicle named Sole Motors.
    It is also expected that 100% of the shares of ACC Hungary will
    be transferred to ACC, which will then transfer the shares to
    Sole Motors, prior to the transfer of the household motor
    business to Sole Motors to NTMC or, alternatively, Sole Motors
    will directly acquire 100% of the shares of ACC Hungary.

 4. Schedule

    The closing of the transaction is expected to occur on or prior
    to December 31, 2009.

 5. Effect on Financial Performance for the Current Fiscal Year

    We will evaluate the accounting impact of the transaction on our
    financial performance for this fiscal year to be released
    publicly in Japan pursuant to the rules of the Tokyo Stock
    Exchange and announce changes to our forecasts as required
    thereunder.

The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734

Cautionary Statement Concerning Forward-Looking Information

This press release contains forward-looking statements regarding the intent, belief, strategy, plans or current expectations of Nidec or other parties. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, the anticipated benefits of the potential transaction not being realized, shifts in technology, and changes in economic environments. Nidec does not undertake any obligation to update the forward-looking statements contained herein, nor to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

Nidec Corporation
Investor Relations
Masahiro Nagayasu, General Manager
+81-75-935-6140
ir@jp.nidec.com