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The world-shaking
jolt of the '70s oil shock posed a serious threat to
the Japanese economy. Chances were miserably small for
a company like Nidec—a newborn, minuscule-scale
manufacturer with no impressive historical track record—even
to secure minimum orders necessary to barely survive.
In apparent desperate straits, what solved the problem
was a decision to venture into the U.S. market. With
this as a turning point, Nidec rapidly extended its
global reach beyond the U.S. into Asia and Europe establishing
a foothold in the world stage just three years after
its founding.
Nidec continuously expanded its product lineup from
small precision AC motors to brushless DC motors and
cooling fans. In 1979, it became the first company worldwide
to put spindle motors into practical use in 8-inch-diameter
hard disk drives. With the opening of a high-volume
factory in Mineyama, Kyoto, Nidec had laid the groundwork
for the growth to come. |
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In the early
'80s, when the use of word processors and personal computers
was getting increasingly popular throughout Japan, Nidec
noted bright prospects in the industry for spindle motors
to be used in PC-based HDDs, and stepped up their production.
Nidec steadily increased order volume by responding
promptly to various needs from major HDD makers both
at home and abroad. While establishing new domestic
factories in Shiga, Tottori, and Okayama prefectures
to strengthen production, Nidec started overseas production
in Thailand, Taiwan and China (Dalian) in step with
accelerated customer moves toward overseas operation.
In the meantime, Nidec purchased the axial-flow fan
division of Torin Corp.—the first M&A; operation
for Nidec—and launched fully into the fan business.
Nidec's 1988 listings on the Osaka Stock Exchange (second
section) and the Kyoto Stock Exchange, unprecedented
coming just 15 years after the company's founding, attracted
much public attention.
The following year, 1989, Nidec purchased its then competitor,
Shinano Tokki Co., Ltd., establishing itself as the
indisputable leader in the market for HDD spindle motors. |
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During the
'90s, the pace of HDD-motor miniaturization accelerated
as the trend toward computer downsizing gained momentum.
Nidec steadily accumulated technical expertise through
vigorous research & development activities aimed
at obtaining higher precision technologies. Following
the opening of the Central Laboratory in 1992, Nidec
reorganized a domestic factory located in Shiga prefecture
into a technical center. In 1994, Nidec became the world's
first mass-producer of the next-generation HDD motor—the
Fluid Dynamic Motor (FDB motor)—solidifying its
technological basis for the coming growth.
Meanwhile, scale expansions as a corporate group by
means of M&A; went into full swing. In 1995, Nidec
took a stake in Shimpo Industries Co., Ltd. and Kyoritsu
Machinery Co., Ltd. Subsequently, in 1997, Nidec added
three companies to its allies: Tosok Corp. (a former
affiliate of Nissan Motor Co., Ltd.), Read Electronics
Corp. (a former subsidiary of Nippon Steel Corporation),
and Kyori Kogyo Co., Ltd. Through this rapid sequence
of M&A; operations, Nidec gained widespread technical
expertise associated with high-precision processing,
testing & measuring, and press technology as its
group assets. |
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Having exceeded
the consolidated sales of 100 billion yen for FY1997,
in 1998 Nidec listed on the first section of the Tokyo
Stock Exchange and saw its listing on the second section
of the Osaka Stock Exchange elevated to the rank of
the first section.
Hardly taking time to bask in the afterglow of these
achievements, Nidec shifted its focus to the New York
Stock Exchange (NYSE). Three years later in 2001, Nidec
successfully went public on the NYSE, embarking on a
new chapter as a global enterprise.
Over those years, Nidec included in its growing group
Copal Co., Ltd., Copal Electronics Co., Ltd. and Shibaura
Nidec Corp. (established as a joint venture with Shibaura
Mechtronics Corp. and Toshiba Corp.) in 1998, Nemicon
Corp in 1999, and Y-E Drive Corp. in 2000. The resulting
expansion in business further encouraged the shift overseas
of production facilities. Notably in China, a fast-growing
economic power, Nidec established a huge production
site at Pinghu City, Zhejiang. |
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Nidec celebrated
its 30th anniversary in 2003 and had its headquarter
building renewed—the highest building in Kyoto
by far—where the head office and central technical
laboratory work in close coordination. Sankyo Seiki
Mfg. Co., Ltd. joined as Nidec's group company.
Toward the target sales of 1 trillion yen and employees
of 100,000—and even more lying beyond those goals—Nidec's
quest for the future goes on. |
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