TOKYO (AP) – Hitachi Ltd. said Tuesday it will sell its motor-making unit, Japan Servo Co., to motor manufacturer Nidec Corp.
Hitachi said it will sell a 46.47 percent portion of its 51.37 percent equity stake in Japan Servo, listed on the Second Section of the Tokyo Stock Exchange, to Nidec after Nidec launches a public tender offer Wednesday.
During the 21-day buyout bid until April 12, Nidec, listed on the TSE's First Section, said it will offer 260 yen per Japan Servo share.