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Nidec Corporation (6594.T)

Tokyo - Tokyo Delayed Price. Currency in JPY
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13,845.00-805.00 (-5.49%)
At close: 3:15PM JST
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Neutralpattern detected
Previous Close14,650.00
Bid0.00 x 0
Ask0.00 x 0
Day's Range13,800.00 - 14,355.00
52 Week Range4,837.50 - 15,175.00
Avg. Volume2,204,055
Market Cap8.112T
Beta (5Y Monthly)1.29
PE Ratio (TTM)86.95
EPS (TTM)159.23
Earnings DateApr 28, 2021 - May 03, 2021
Forward Dividend & Yield60.00 (0.41%)
Ex-Dividend DateMar 30, 2021
1y Target Est18,585.30
  • Moody's

    TDK Corporation -- Moody's downgrades TDK's rating to Baa1 from A3; outlook stable

    Rating Action: Moody's downgrades TDK's rating to Baa1 from A3; outlook stableGlobal Credit Research - 16 Feb 2021Tokyo, February 16, 2021 -- Moody's Japan K.K. has downgraded the issuer rating of TDK Corporation (TDK) to Baa1 from A3.At the same time, Moody's has changed the outlook to stable from negative."TDK's Baa1 rating indicates its fundamental credit profile without Japan support, its positioning relative to global peers, and the risks related to increased investments to make large-volume power-cell batteries a new core business," says Ryohei Nishio, a Moody's Analyst.RATINGS RATIONALEThe Baa1 rating indicates TDK's fundamental credit profile without uplift for Japan's institutional support, which was a key consideration in the downgrade. This rating construct takes into account the company's material overseas operations, with its overseas sales and employee ratio now comprising over 90% and overseas production ratio over 80%.Moody's ascribes less institutional support to such companies with extensive overseas operations, because of their proportionally reduced reliance on the domestic economy.

  • Apple Car Reports Fuel Speculation of Kia or Japan Carmaker Deal

    Apple Car Reports Fuel Speculation of Kia or Japan Carmaker Deal

    (Bloomberg) -- Speculation that Apple Inc. is seeking a partner to develop its own electric vehicle swept through South Korea and Japan, where shares of major car companies climbed on reports of discussions with the maker of the iPhone.Kia Motors Corp. is talking to potential partners about a plan to assemble an Apple-designed car, the Wall Street Journal reported Friday. Separately, the Nikkei newspaper said Apple was in discussions with at least six automakers. Conjecture around Apple’s secretive project to design and sell its own car re-emerged in December after a hiatus of several years, with Kia’s part-owner Hyundai Motor Co. mentioned as a potential partner.The key question is how serious Apple is about taking on Tesla Inc. and other electric-vehicle makers, and whether it has determined it will need a established manufacturer to be able to roll out its own product. The Cupertino, California-based company is said to have a small team of engineers developing drive systems, as well as designers, but with development work at an early stage, any roll out probably won’t happen for another five years.Read more: Apple Self-Driving Electric Car Is at Least Half a Decade AwayTatsuo Yoshida, a senior analyst at Bloomberg Intelligence, said that Japanese automakers are usually too busy with their own development, manufacturing, sales and customer service to take on a task like working with Apple. However, Nissan Motor Co. or Mitsubishi Motors Corp. “don’t have much work, and are somewhat idle, so they might sign up,” he said.When asked if they were approached, Honda Motor Co. and Mazda Motor Corp. said they couldn’t comment, the Nikkei said. Mitsubishi Motors said it was not contacted and Nissan declined to comment, according to the report. Subaru Corp.’s chief financial officer said on an earnings call that he hadn’t heard anything about an Apple car.Kia shares rose 1.5% in Seoul, adding to gains from earlier this week on a local media report that Apple would invest 4 trillion won ($3.6 billion) as part of a collaboration with the automaker on making EVs. In December, Hyundai backed away from a statement that said it was in talks with Apple.Read more: How Apple Can Tackle $230 Billion Luxury Car Market: Alex WebbThe Journal reported a deal between Apple and Kia will involve a multibillion-dollar investment, with assembly to take place in the state of Georgia. This week, CNBC reported that Apple is close to finalizing a deal with Hyundai-Kia to build an autonomous EV at Kia’s U.S. plant. No agreement has been reached, but they are tentatively scheduled to go into production in 2024, the news channel said.A representative for Kia declined to comment.Hyundai has developed a new EV-dedicated platform, and plans to build 23 EVs, beginning with the Ioniq 5 in March in Europe, followed by a Kia model later this year. EVs made on the platform will be able to charge up to 80% capacity in 18 minutes and add as much as 100 kilometers (62 miles) of driving range in just five. They’ll have a top range of 500 kilometers on a single charge. Hyundai is aiming to sell 1 million cars by 2025.Read more: Why Building an Electric Car Is So Expensive, For Now: QuickTakeIn Japan, the report fueled gains among automakers, which in turn boosted the benchmark Topix, with Toyota Motor Corp., Mitsubishi Motors, and Nissan rising. Mazda shares also jumped 19%, the most in 12 years, after the company boosted its operating income forecast for the full year.Among Japan’s carmakers, Nissan probably has the right solution for a non-automaker seeking to enter the EV market. The Japanese automaker has developed with French partner Renault SA a common EV platform that can be used by to develop distinct, branded products for their global automaking alliance, which also includes Mitsubishi Motors.Nidec Corp., a major Japanese supplier of electric motors, is also seeking to offer nearly complete EV platforms. Jun Seki, the company’s chief operating officer, said in a recent interview that new entrants in the sector would prefer to focus on a vehicle’s interior and styling.Read more: The World’s Top Maker of Mini Motors Bets It Can Win Over Tesla“Any new company entering into the realm of electric vehicles is a chance for us,” Seki said. “Our expectations of Apple are quite high. Apple is our important customer in other fields as well.”(Updates shares throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Nidec to Acquire Mitsubishi Heavy Industries Machine Tool Co., Ltd.

    Nidec to Acquire Mitsubishi Heavy Industries Machine Tool Co., Ltd.

    KYOTO, Japan, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that its Board of Directors has approved a resolution to acquire: the shares of Mitsubishi Heavy Industries Machine Tool Co., Ltd. (“Mitsubishi Heavy Industries Machine Tool”), a company that designs, manufactures, and sells machine tools, cutting tools, and related products, from Mitsubishi Heavy Industries, Ltd. (“Mitsubishi Heavy Industries”); all the Mitsubishi Heavy Industries Group-owned shares of three overseas subsidiaries specialized in machine tool business; and the machine tool business run by nine overseas subsidiaries (the “Stock Acquisition”). Accordingly, Nidec entered into a stock purchase agreement on February 5, 2021 (Japan time). 1. Outline of Mitsubishi Heavy Industries Machine Tool (1)Company Name:Mitsubishi Heavy Industries Machine Tool Co., Ltd.(2)Headquarter: 130, Roku-jizo, Ritto, Shiga, 520-3080, Japan(3) Foundation:October 1, 2015(4)Capital:JPY 3 billion(5)Director:Kenichi Wakabayashi, President and CEO (with positions remaining unchanged after the Stock Acquisition)(6)Production Bases:Japan (Ritto, Shiga), USA, China, and India(7)Principal Businesses:A) Design, manufacture, sales and consulting services associated with machine tools, cutting tools, and other related productsB) Installation, technical guidance, and after-sales services related to the above products(8)Number of Employees:Approximately 1,400 (as of April 2020)(9)Sales:JPY 40.3 billion (fiscal year ended March 31, 2020) JPY 23.1 billion (estimated, fiscal year ending March 31, 2021) 2. Purpose of the Stock Acquisition The acquisition of machine tool business achieves a mutual complement with our existing businesses. Nidec has been actively engaged in manufacture, sales and services associated with reduction gearboxes and pressing machines through its subsidiary, Nidec-Shimpo Corporation. After completion of the acquisition, Mitsubishi Heavy Industries Machine Tool will become the Nidec-Shimpo’s third main business. Furthermore, we expect utilizing Mitsubishi Heavy Industries Machine Tool’s technology for our future insourcing plan. The Company is expecting further demand increase for E-Axle, the electric vehicle traction unit that Nidec is most focused on at present. Thus, as the Company aims to expand the sales of this product which combines a motor, an inverter and a reducer, it is imperative for us to strengthen manufacturing capabilities of gears, the core component of the traction unit. In this regard, this latest Stock Acquisition will serve as an important effort to help the Company acquire personnel who are well-versed in the development of gears of Mitsubishi Heavy Industries Machine Tool and these people’s high technological skills in line with the Nidec Group’s strategy for electric vehicle traction unit. Mitsubishi Heavy Industries Machine Tool started its business in 1936 for manufacturing of lathe in Hiroshima, Japan. Since then, Mitsubishi Heavy Industries Machine Tool has been a group company of Mitsubishi Heavy Industries and has grown its business, while supporting Japanese manufacturing for many years. Mitsubishi Heavy Industries Machine Tool, which designs, manufactures and sells machine tools, cutting tools and related products and provides after-sales services for the products, owns highly professional personnel in addition to its long-nurtured technologies. Mitsubishi Heavy Industries Machine Tool has products related to automotive transmissions and reducers businesses, such as a gear cutting machine and a gear grinding machine with high accuracy and efficiency. The company has top market share in Japan with this product. The company also has laser and semiconductor manufacturing equipment with unique cutting-edge technologies. After this acquisition is completed, Nidec has a view of further expansion of machine tool business with Mitsubishi Heavy Industries Machine Tool, and believes that, with necessary investment, the business will be able to play a major global role in our group. It is our intention to mutually leverage the Nidec Group’s and Mitsubishi Heavy Industries Machine Tool’s respective technological capabilities, brand strength, and customer bases, to contribute to the further development of the global machine tool market. 3. Schedule (1)Board of DirectorsresolutionFebruary 4, 2021 (Japan time)(2)Contract signedFebruary 5, 2021 (Japan time)(3)ClosingExpected in May 2021 (The transaction may bedeferred with the status of approval of antitrust authorities andlicense of each country) 4. Effect on Financial Performance for the Current and Next Fiscal Year The transaction is expected to have no impact on the Company’s consolidated financial performance for this fiscal year ending March 31, 2021 and no significant impact for coming fiscal year ending March 31, 2022. If necessary, the Company will make additional disclosure on a timely basis in accordance with the rules of the Tokyo Stock Exchange upon determination of further details. Cautionary Statement Concerning Forward-Looking InformationThis press release contains forward-looking statements regarding the intent, belief, strategy, plans or expectations of the Nidec Group 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 risks to successfully integrating the acquired business with the Nidec Group, the anticipated benefits of the planned transaction not being realized, changes in general economic conditions, shifts in technology or user preferences for particular technologies, whether and when required regulatory approvals are obtained, other risks relating to the successful consummation of the planned transaction, and changes in business and regulatory environments. The Nidec Group does not undertake any obligation to update the forward-looking statements contained herein or the reasons why actual results could differ from those projected in the forward-looking statements except as may be required by law. NIDEC CORPORATIONCORPORATE OFFICE: 338 KUZETONOSHIRO-CHO, MINAMI-KU, KYOTO 601-8205 JAPANPHONE: KYOTO +81-75-935-6140 FAX: +81-75-935-6141URL: https://www.nidec.com/en/ Contact: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 ir@nidec.com