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© pichetw dreamstime.com Business | October 29, 2019

Nidec provides an update on its Omron deal

Nidec Corporation previously announced a plan to acquire Omron Automotive Electronics from Omron Corporation back inn April, 2019.

Of the businesses Nidec initially planned to acquire, the acquisition of the automotive electronics components businesses of Omron Manufacturing of Indonesia PT. and Omron Vietnam Co., Ltd. is expected to complete by the end of June 2020, although the profits and risks associated with these businesses will be transferred to Nidec at the same time as the stock acquisition which is to be executed on October 31, 2019. However, in a short update, Nidec says that it has decided not to acquire the business from Omron Hong Kong Ltd.
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November 12 2019 7:31 am V14.7.10-1