TOKYO, Japan, October 30, 2013 - Honda Motor Co., Ltd. has determined it will transfer all of its shares of a Honda subsidiary, Honda elesys Co., Ltd. ("Honda elesys"), to Nidec Corporation ("Nidec").
In order to strengthen the area of automotive vehicle control electronics, Honda jointly invested with NEC Corporation, SHOWA Corporation and Nissin Kogyo Co., Ltd. to establish Honda elesys in 2002. Ever since the establishment of the company, Honda elesys has been steadily increasing its sales revenue by leveraging its technological strengths in the development and production of the in-vehicle ECU (electronic control unit).
However, in the area of electronic control components, it is becoming increasingly common to integrate mechanical parts and electronic parts in response to the demand for cost and weight reduction. Considering this direction, Honda made a decision to transfer all of its Honda elesys shares to Nidec based on the belief that Honda elesys will be better able to enhance its future growth by becoming a part of the Nidec group, which has the world’s top-level motor and actuator technologies. Moreover, Honda believes that as a result of combining the strengths of both companies, Honda elesys will further increase its competitiveness as a Honda supplier.
There will be no change planned for Honda elesys as to the location of the head office and plants as well as job titles and employment locations of associates resulting from this transfer of shares.
|About Nidec Corporation:|
|Capital Investment:||66,551,220,790 yen|
|Number of employees:||104,497 (consolidated)|
Chairman of the Board, President & Chief Executive Officer
|Head office location:||338 Kuzetonoshiro-cho, Minami-ku, Kyoto, Japan|
|About Honda elesys Co., Ltd.:|
|Capital Investment:||1,950,000,000 yen|
|Number of employees:||742 (consolidated)|
|Representative:||Katsuhiko Takebe/ President|
|Head office location:||Yokohama Business Park North Square 1
134 Goudo-cho Hodogaya-ku, Yokohama City, Kanagawa, Japan
|Shareholder composition:||60.8% Honda Motor Co.,Ltd.
33.4% NEC Corporation
2.9% SHOWA Corporation
2.9% Nissin Kogyo Co., Ltd.