×

Nidec India to Obtain Rupee-Denominated Loan from JBIC

KYOTO, Japan, Aug. 6, 2015 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company" or "Nidec") today announced that Nidec India Private Limited ("NIND"), the Company's subsidiary in India, plans to obtain an Indian rupee-denominated financing from the Japan Bank for International Cooperation ("JBIC"). This is the first loan to be provided by JBIC denominated in Indian rupee.

NIND provides a common operation environment for multiple Nidec group businesses in the manufacture of automotive, appliance, commercial and industrial motors in India. NIND enables the sharing of production infrastructure among multiple operations, localization of design operations, and low-cost production knowhow. Through NIND, Nidec intends to enhance the group's business in India, South Asia, Middle East and other emerging markets.

The utilization of JBIC loan is expected to curb the Company's rupee-based interest expense and to help reduce currency volatility-related risks.

CONTACT: For inquiries, please contact: Takuo Yasui Senior Vice President and General Manager of Finance Department Nidec Corporation 338 Tonoshiro-cho, Kuze, Minami-ku Kyoto 601-8205 Japan Tel: +81-75-935-6230

Source:Nidec Corporation