Nidec Launches Takeover Bid for Makino Milling

Tokyo, April 4 (Jiji Press)--Japanese motor manufacturer Nidec Corp. launched a tender offer for machine manufacturer Makino Milling Machine Co. on Friday, despite repeated requests from the target company to postpone the bid.

It is uncertain whether Nidec's takeover bid can be successfully completed, as Makino Milling has strengthened its negative stance, although it has not expressed opposition.

At a press conference on Friday, Takamitsu Araki, first senior vice president of Nidec, explained that the company decided to launch the takeover bid after giving Makino Milling enough time to consider the matter.

"We have taken the fair way and we will complete the acquisition," he said, expressing the company's determination.

The press conference was also attended by Kazuhiro Harada, president of Takisawa Machine Tool Co., which was acquired by Nidec in 2023.

[Copyright The Jiji Press, Ltd.]