Nidec abandons tender offer for Makino Milling Machine Co.

Nidec Corporation [TSE:6594] announced the withdrawal of its tender offer for Makino Milling Machine Co., Ltd. [TSE:6135], effective May 9, 2025. The initial tender offer, aimed at making Makino Milling Machine Co. a wholly-owned subsidiary of Nidec, commenced on April 4, 2025. However, following a Board of Directors meeting, Nidec determined that the proposed implementation of share options by Makino Milling Machine in response to the tender offer posed a risk of significant economic damage to Nidec. Consequently, maintaining the tender offer became economically unreasonable, leading to its withdrawal. The company will submit a Tender Offer Withdrawal Registration Statement to the Director of the Kanto Local Finance Bureau. The tender offer agent will return the necessary share certificates to shareholders and interested parties can review a copy of the withdrawal registration statement at Nidec's headquarters in Kyoto and at the Tokyo Stock Exchange.