Nidec to Establish "Nagamori Award" for Motor-Related Technologies

Nidec Corporation

KYOTO, Japan, July 7, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced that it will establish the "Nagamori Award" for motor-related technologies.

1. Purpose of the Nagamori Award

Since its foundation, Nidec has been specializing in business for "everything that spins and moves." Now, with its group companies operating in 32 counties around the world, the Company is continuously growing as the "world's No.1 comprehensive motor manufacturer."

Motors, invented in the early 19th century, are used in all kinds of electric products around us, and are indispensable in our lives. Used in a number of places, motors are believed to consume approximately one half of all electricity generated in the world. This is why the research and development of motors holds significant importance to both enrichment of our lives and perpetual conservation of the global environment.

The Nagamori Award aims to further enhance the research and development of motors and motor-related technologies and to support young to middle-level engineers working dedicatedly for their dreams every day.

2. Overview of the Nagamori Award

Name Nagamori Award
Areas covered Motor, motor control, motor application technology, and other motor-related technological fields
Application requirements Applicants must be young to middle-level R&D engineers who are members of university, public organization, private company, etc. across the world, with outstanding achievement.*
  *Applicants must attend the commendation ceremony, prepare and submit necessary documents, and give an award lecture.
Application method Applicants must be recommended by an academy or nominate themselves. *
  *When nominating themselves, applicants must submit a recommendation letter from an academy or the organization that the applicants belong to.
Commendation The Nagamori Award will be granted to 3-5 people every year. The person to receive the Grand Award of the Nagamori Award will be announced at the commendation ceremony.
  Award: 5 million yen for the Grand Award of the Nagamori Award, and 1 million yen for the Nagamori Award.

3. Schedule for the first year (FY2015)

The schedule for FY2015, the first year of the "Nagamori Award", is planned as follows:

Early September 2014 Announcement of information for the applicants (on the Company's website)
November 1, 2014 Starting date for application
January 31, 2015 Closing date for application
Mid-May 2015 Announcement of award recipients (on the Company's website)
August 30, 2015 Commendation ceremony

4. Review committee

The Nagamori Award review committee, which will comprise five outside intellectuals and several advisers from the Company, will review nominees fairly based on the criteria to be decided by the committee.

Professor Yoichi Hori of Graduate School of Frontier Sciences, the University of Tokyo, will act as the first chairperson of the committee. The other committee members will be provided in the information for the applicants, which will be announced in early September 2014.

5. Other

  • The Nagamori Award will be offered from the private fund of Mr. Shigenobu Nagamori, Chairman of the Board, President and CEO of the Company.
  • The Nagamori Award will be administered by the Company.
  • The commendation ceremony is planned to be held at a hotel in Kyoto, Japan.
CONTACT: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140

Source:Nidec Corporation