KYOTO, Japan, March 28, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation NJ (the "Company") today announced that it has submitted a shelf registration statement for issuances of corporate bonds in Japan to the Director General of the Kanto Local Finance Bureau of the Ministry of Finance of Japan today, as the existing shelf registration statement for issuances of corporate bonds in Japan will expire on April 4, 2016. The shelf registration is expected to enhance the Company's flexibility and agility in obtaining funding for the Company and its consolidated subsidiaries as an alternative source of funding in addition to financing through financial institutions and other sources and, through the further diversification of its funding sources, improve the Company's financial stability.
A brief summary of the shelf registration is described below:
| 1. Planned issue amount: | Up to JPY200 billion |
| 2. Expected effective period: | Two years from the effective date of the shelf registration |
| (expected to be from April 5, 2016 to April 4, 2018) | |
| 3. Planned use of proceeds: | Proceeds from any future issuances are expected to be |
| used for equipment and machinery, for lending and | |
| investing purposes, for redemption and repayment of | |
| short-term and other corporate bonds and other debt, | |
| and for general corporate purposes, including working | |
| capital and other operating expenses. |
| This press release has been prepared for the purpose of announcing the Company's submission of a shelf registration statement in Japan. This press release is not an offer to sell or the solicitation of an offer to buy securities. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"). The securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the 1933 Act. |
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