Nidec receives German approval for Makino Milling takeover

Nidec Corporation (TSE: 6594) announced today that it has received approval from the German Federal Ministry for Economic Affairs and Climate Action under the German Foreign Trade Act concerning its proposed tender offer for Makino Milling Machine Co., Ltd. (Stock Code: 6135). This approval, dated March 11, 2025 (German time), satisfies one of the necessary regulatory conditions for Nidec to proceed with its plan to make Makino Milling Machine a wholly-owned subsidiary. Nidec anticipates completing remaining regulatory procedures, including those related to competition laws and foreign investment restrictions in other jurisdictions, and will promptly disclose any further material developments. The company estimates approvals in Japan, the United States, China, the EU, Turkey, France, Italy, Slovakia, Spain and Czech Republic to be obtained in either February, March or April 2025.