Nidec to Acquire Honda Elesys

Nidec Corporation

today announced that it has agreed to acquire all of the shares of Honda Elesys Co., Ltd. from its shareholders, Honda Motor Co., Ltd.

, NEC Corporation

, Showa Corporation and Nissin Kogyo Co., Ltd.. For this purpose, the Company entered into a stock purchase agreement (the "Stock Purchase Agreement") with each of the Shareholders as of today. 1. Purpose and background of the Transaction With its fundamental business strategy to specialize in the area of various motors and other products that "spin and move" and in the area of related application products, equipment and parts, Nidec Group has developed its business in a wide range of markets for motors, including information technology, automotive motors, home appliances, commercial and industrial equipment and others. The Company began to expand its automotive motor business in December 2006 by acquiring the Motors & Actuators business (currently, Nidec Motors & Actuators) from Valeo S.A., a French company. Since then, as one of its priority strategic areas, Nidec Group has actively engaged in acquisitions of automotive motor businesses, including the acquisition of Jiangsu