NJDCY - Nidec Appoints New President and Chief Operating Officer

KYOTO, Japan, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced the following personnel changes based on the resolution at a meeting of the Board of Directors held on February 4, 2020.

1. Reason for the changes
Further enhance the Company’s management system to generate consolidated net sales of 10 trillion yen in the fiscal year ending March 31, 2031.

2. Appointment of new President

(1) Details
Mr. Jun Seki
Current position: Special Executive Consultant
New position: President and Chief Operating Officer

Mr. Hiroyuki Yoshimoto
Current position: Representative Director, President and Chief Operating Officer
New position: Representative Director and Executive Vice President
*Mr. Yoshimoto will assume the post of Executive General Manager of the Company’s Appliance, Commercial & Industrial Motor Business Unit on March 1, 2020.

(2) Effective date: April 1, 2020

3. Appointment of a new representative director

(1) Details
Mr. Jun Seki
Previous position: President and Chief Operating Officer
New position: Representative Director, President and Chief Operating Officer

(2) Effective date: June 17, 2020
This personnel change will take effect on June 17, 2020 upon shareholder approval at the Regular General Meeting of Shareholders and a subsequent meeting of the Board of Directors to be held on the same day.

Brief personal history of Mr. Jun Seki, the newly appointed President and Chief Operating Officer, is as follows.

Education and career summary:                       

Number of the Company’s shares in possession: 0 (as of January 16, 2020)