Nidec To Acquire Honda Elesys - Quick Facts

(RTTNews) - Nidec Corp. (NJ) announced it has agreed to acquire all of the shares of Honda Elesys Co., Ltd. from its shareholders, Honda Motor Co., Ltd., (HMC) NEC Corporation (NIPNF.PK), Showa Corporation and Nissin Kogyo Co., Ltd. The company entered into a stock purchase agreement with each of the shareholders for this purpose.

Elesys is a subsidiary of Honda and one of the world-leading electronics system manufacturers that develops, manufactures and sells electronic control units for automobiles.

Nidec said it intends to make appropriate disclosure of the impact of the transaction on its consolidated financial performance for the current fiscal year and announce any changes to its financial performance forecasts, once such details are determined.