OSAKA – Precision motor manufacturer Nidec Corp. said Thursday it will buy out a Mitsubishi Materials Corp. subsidiary that makes motors for automobiles as it prepares to jump into the growing market for such products.
The acquisition of Mitsubishi Materials C.M.I. Corp. will enhance Nidec’s product lineup, which has been focused on motors for computer hard drives, digital cameras, gaming consoles and other electronic products with quickly maturing markets, it said.
The cost of the transaction, which it plans to complete by the year-end, is estimated at ¥10 billion.
Mitsubishi Materials C.M.I., based in Shizuoka Prefecture, produces “stepping motors” for electrically controlling fuel injection valves that improve fuel efficiency and for improving the functionality of heads-up displays. It posted group sales of ¥13.3 billion in the year to March 31.
Kyoto-based Nidec will take over the subsidiary’s five plants — two in Japan and one each in Malaysia, Indonesia and China — and retain its 1,600-person workforce, it said.
Yokohama to share EVs
Yokohama said it will launch a car-sharing experiment Oct. 11 with Nissan Motor Co. in its waterfront districts, including Chinatown and Minato Mirai, using electric vehicles.
The Choi Mobi Yokohama project, the first major undertaking involving small EVs in Japan, will make around 100 electric cars available for rent at some 70 stations to licensed drivers who complete a safety instruction course.
Car sharing differs from traditional rental schemes in that the vehicles can be rented for shorter amounts of time, paying by the hour. The rental cost under Yokohama’s program will be ¥20 per minute.
“We want users to take advantage of the program as an alternative to private cars, and we also encourage tourists to participate,” a Yokohama official in charge of the project said Wednesday.
More information on the car-sharing project is available at: www.choi-mobi.com.
August car output up 3.5%
The combined overseas output of Japan’s top eight automakers in August rose 3.5 percent from a year before to 1,264,130 units, data from the companies shows.
The increase partly reflected the ongoing economic recovery of the United States and sluggish production in such emerging economies as China, Thailand and India amid a regional slowdown, the data said Wednesday.