NJDCY - Nidec Corporation to make Nidec OKK Corporation a wholly owned subsidiary

• Nidec Corporation ( OTCPK:NJDCY ) to make Nidec OKK ( OTCPK:OKKCF ), a wholly owned subsidiary of the Company, which will serve as the wholly owning parent company.
• The share exchange is expected to become effective on March 1, 2023.
• The company intends to use a simplified share exchange procedure in accordance with Article 796, Paragraph 2, of the Companies Act, without obtaining the approval of its shareholders for the Share Exchange.
• With the move, the two companies aim to improve their management flexibility, further strengthen their group strategy, and cancel the parent-subsidiary stock listing for reducing expenses in order to improve business management efficiency for the purpose of enhancing the two companies’ corporate values.
• Nidec OKK’s stock is expected to be delisted from the Tokyo Stock Exchange’s Standard Market, and the delisting is currently expected to take effect on February 27, 2023.

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