Nidec Corporation (NYSE: NJ) CEO Shigenobu Nagamori interview appears in New York Stock Exchange website's column "THE BIG STAGE –Leaders-" focused on remarkable company's leaders. The title is "Breaking the Mold -Nidec CEO Shigenobu Nagamori rises to the challenges of business and culture-", and Mr. Nagamori spoke with "THE BIG STAGE" about Nidec's strategy and his management style.
|Summary of the interview
||Q. What advice do you have for young entrepreneurs today?
||A. People's capabilities are not so different from each other. Therefore, if you work doubly hard as your competitors and don't relax once you achieve some success, you can achieve your dreams.
||Q. A major Nidec market is shrinking as SSD replace HDD in computers. How are you dealing with this challenge?
||A. All products have a certain lifetime. We are diversifying through mergers and acquisitions and moving into new markets, particularly autos, industry and electric appliances. We are already designing and delivering products for these markets.
||Q. A diversification strategy can be rewarding if successful, but carries the risk of costly failure. How do you ensure success and avoid the pitfalls?
||A. The purpose of M&A should not be to make the company bigger, but rather to make the company stronger. We carry out our own appraisal of a company's technology and management capability. Then we can judge its value to us and won't pay more than that value.
||Q. Why did you publish a comic book about yourself and Nidec?
||A. To educate young students about how exciting and rewarding it can be to start up your own company.
||Q. Why do you have new employees spend time doing jobs such as cleaning company toilets?
||A. You can trust people who are willing to work hard and get their hands dirty. Those who avoid such dirty work lack a spirit of challenge.
||Q. What are your passions outside of work?
||A. I don't have any. All my time and energy are spent on growing Nidec. This gives me the greatest satisfaction. People often enjoy hobbies so much because they don't enjoy working. I come into work every day at 6:50 and work 365 days a year. This is my passion.
For more information, please visit New York Stock Exchange website.