KYOTO, Japan, March 26, 2007 (PRIME NEWSWIRE) -- Nidec Corporation ("Nidec") (NYSE:NJ) announced today that the Board of Directors of its Singaporean subsidiary, Brilliant Manufacturing Limited ("Brilliant"), agreed on a proposal to delist the shares of Brilliant common stock (the "Shares") from the Singapore Exchange Securities Trading Limited ("SGX-ST").
Nidec acquired Brilliant by means of tender offer in February 2007 and currently holds 87% of the Shares.
Upon approval of shareholders at an extraordinary general meeting of Brilliant, Nidec intends to purchase all of the remaining Shares currently traded on SGX-ST to make Brilliant a wholly-owned subsidiary.
Nidec believes the delisting of Brilliant will enable more efficient and competitive management of the HDD base plate production.
The Nidec Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1734