Key Facts
• June 20, 2025: Nidec held a shareholder meeting in Kyoto.
• Nidec withdrew its unsolicited tender offer (TOB) for Makino Milling Machine Co.
• Tokyo District Court rejected Nidec’s injunction request against Makino’s defense measures in May.
• CEO Shigenobu Nagamori stated, “My approach does not work in Japan yet. It will take 20 years.”
• Nagamori emphasized, “If it fails, stop-this is the rule of acquisitions.”
• Nidec President Mitsuya Kishida reflected on the TOB, calling it “premature for Japan.”
• Nidec’s global M&A strategy remains unchanged despite the setback.
Summary
Nidec Corporation has withdrawn its unsolicited tender offer (TOB) for Makino Milling Machine Co. following a Tokyo District Court decision in May 2025 that rejected Nidec’s injunction request against Makino’s defensive measures. During a June 20 shareholder meeting in Kyoto, CEO Shigenobu Nagamori acknowledged the challenges of his acquisition strategy in Japan, stating it may take 20 years to succeed. He emphasized the importance of adhering to acquisition principles, noting that raising prices to outbid competitors would compromise profitability. President Mitsuya Kishida reflected on the experience, describing the attempt as premature for Japan but reaffirming Nidec’s commitment to its global M&A strategy. The company views the setback as a learning opportunity while maintaining its focus on international expansion.
