Nidec launches ¥250 bln unsolicited bid for Makino

January 17, 2025

On December 27, 2024, Japanese manufacturing giant Nidec Corporation announced its intention to launch a tender offer (TOB) for Makino, a leading player in the machine tool industry.

The tender offer and Makino’s response

Nidec has set the purchase price at ¥11,000 per share, with the total acquisition value expected to exceed ¥250 billion. The company aims to complement its product lineup and achieve synergies in production and sales.

Unlike typical acquisitions, Nidec initiated the TOB without prior discussions with Makino. In response, Makino formed a special committee consisting of four outside directors on January 10, 2025 to review the proposal. On January 15, Makino submitted a written request to Nidec to postpone the start date of the TOB from the originally scheduled April 4 to May 9.

Nidec’s expansion into the machine tool industry

Nidec first entered the machine tool industry in 2021 with the acquisition of Mitsubishi Heavy Industries Machine Tool (now NIDEC MACHINE TOOL). Since then, the company has aggressively expanded by acquiring prominent companies such as OKK (now NIDEC OKK), Italy-based PAMA, and TAKISAWA.