Chairman’s Message

Marking the 50th Anniversary

Fifty years ago, I started Nidec Corporation with three like-minded colleagues and since then we have worked our way to becoming an internationally active business with over 100,000 employees in 47 countries and regions. Thanks to all our employees for their continued hard work and to our shareholders and stakeholders for supporting us on our journey, we are now proud to see our consolidated annual sales exceed 2.2 trillion yen to finally place Nidec first among all Kyoto-based, internationally competitive firms. However, time waits for no one—or company. I hear a warning bell signaling us to press ahead with transformational changes to prepare ourselves for what the next 50 years will bring. The coming transformation, whatever shape it might take, can be likened to giving a rebirth to the company and will mean a tough and testing time for us. I often use this analogy in front of people here at Nidec lately to express my hope to see Nidec emerge stronger from a period of unprecedented challenges with greater resilience worthy of a truly world-class enterprise.
　At the outset of FY2023, we shed our Japanese brand name Nippon Densan under a unified name Nidec, and then placed it ahead of all the names of our Japan-based subsidiaries. Marketing a vast range of products under a single brand name will help expand our global market reach more effectively.
　On the governance front, our Nomination Committee selected five executive vice presidents, one of whom will be appointed the president of Nidec Corporation in April 2024. The current president Hiroshi Kobe will be supporting the new president for four years as new Chairman and CEO. I will be leaving all my current positions to assume the role of observing progress under the new management team. My focus will continue to be on “walking the talk” on corporate values.

Eying Consolidated Net Sales of 10 Trillion Yen

Achieving consolidated net sales of 10 trillion yen is my long-cherished dream. Admittedly, that is a lofty dream, but not impossible if Nidec people release their full potentials. Well-matched business acquisitions, not to mention innovative, value-added products, will also help us make it happen.
　Nidec has historically leveraged M&As for business growth at a pace unmatched by any other Japanese company, including a few attempts made without the consent of the counterparty. These so-called takeover bids are still uncommon or can often be controversial in Japan, but I find it very motivating to see the resulting benefits expand far beyond any one company, or industry, into a vast variety of markets. Whenever a business acquisition comes into the picture as a viable option, I will spare no effort to share all my knowledge and experiences with our new management team to help them make the best possible choice.

Bringing “One NIDEC” into action

After a few years of devoting a fair amount of energy to tackling pressing issues, such as the succession plan and slumping stock prices, now I am seeing positive changes taking place in Nidec as it builds a solid basis for navigating the next 50 years. I am excited to witness Nidec set out on a journey of a profound, unprecedented transformation where everyone’s contribution is recognized for his or her achievements, regardless of attributes such as academic background, seniority, age, gender, or nationality. And it is only when that happens that we would deserve to be called a global enterprise in the true sense of the word. I am strongly convinced that like-minded Nidec colleagues numbering more than100,000 will unlock a new chapter of company growth, powered by the shared collaborative mindset of “Do it now; do it without hesitation; do it until completed.”

September 2023

Shigenobu Nagamori
Founder, Representative Director and Chairman