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NIDEC CORP to Acquire Hongda Elesys Co., Ltd. from Honda Motor Co Ltd, NISSIN KOGYO CO LTD and SHOWA CORP


Wednesday, 30 Oct 2013 02:00am EDT 

NIDEC CORP announced that it has decided to fully acquire Hongda Elesys Co., Ltd., which is 60.8%-owned by Honda Motor Co Ltd, 33.4%-owned by NIDEC CORP, 2.9%-owned by SHOWA CORP and 2.9%-owned by NISSIN KOGYO CO LTD, by the end of March 2014. The transaction amount is not disclosed.