Notice on Dismissal of Lawsuit Against Nidec

FOR IMMEDIATE RELEASE

Nidec Corporation

Tokyo Stock Exchange code: 6594

Contact:

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Released on April 1, 2019, in Kyoto, Japan

Notice on Dismissal of Lawsuit Against Nidec

As announced on March 12, 2019 in the “Notice on Lawsuit Filed Against Nidec”, Whirlpool Corporation (“Whirlpool”) commenced a lawsuit in the United States District Court for the Southern District of New York (the “Court”) against Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec”), alleging that Nidec is in breach of its obligations contemplated by the Share Purchase Agreement (the ”SPA”) whereby Nidec agreed to acquire their compressor business from Whirlpool.

We would like to inform that the Court spontaneously dismissed the litigation without prejudice on March 27, 2019. Nidec remains focused on obtaining the approval of relevant antitrust authorities and to complete the transaction with Whirlpool as per the SPA.

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A meeting to discuss the prospects of CNG market development was held at AVTOVAZ

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03.04.19
A meeting to discuss the prospects of CNG market development was held at AVTOVAZ

April 2, 2019. An extensive meeting was held at the production site of PJSC “AVTOVAZ” dedicated to “Development of the Russian Natural Gas Fuel Market, Stimulation of the Demand and Offer for the Natural Gas Vehicles” with participation of Special Representative of the President of the Russian Federation for Cooperation with the Gas Exporting Countries Forum, Chairman of the Board of Directors of PJSC “Gazprom” Viktor Zubkov, President of PJSC “AVTOVAZ” Yves Caracatzanis, representatives of ministries, authorities, automotive conglomerates, component manufactures and private business.
During a visit to Togliatti, the guest delegation reviewed the production process and lineup of LADA CNG, visited a gas filling station and discussed relevant matters of the CNG market development at the meeting.
It forth reminding that in July 2017 AVTOVAZ commenced the serial production of the LADA Vesta CNG, a bi-fuel vehicle equipped with gas cylinder designed for compressed natural gas (CNG) Using methane as the fuel is the most safe, environmental-friendly and affordable solution. Its use increases the engine’s service life and reduces the fuel costs more than threefold. Besides, in case of leak this gas is effectively dissipates in the atmosphere assuring high fire-safety characteristics.
The launch of bi-fuel LADA Largus CNG in February 2019 continued that endeavor. The light commercial and 5-seat passenger versions of LADA Largus outfitted with CNG cylinders are a van, 5-seat station wagon, and LADA Largus Cross modification. The LADA Largus CNG van is a lucrative offer for small and medium-sized businesses. A CNG cylinder is located behind the partition that separates the compartment from the body. Thanks to that it is possible to keep the high volume of cargo compartments – 2225 liters.
President of PJSC “AVTOVAZ” Yves Caracatzanis emphasized that the Company consistently develops the LADA CNG lineup. “We see a stable demand for these cars from both corporate clients, particularly taxi companies, and private owners. We express our gratitude to the state for the support to the market and manufactures of CNG vehicles, and hope that these measures will be kept stable in the coming years” – Mr. Caracatzanis emphasized.
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