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- Masahiro Nagayasu
- General Manager
- Investor Relations
- +81-75-935-6140
- ir@nidec.com
Released on March 13, 2023, in Kyoto, Japan
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today it passed a resolution in an extraordinary meeting of the Board of Directors held on March 10, 2023 on five persons to be appointed to serve as the Company’s Executive Vice Presidents from April 01, 2023. Other executive appointments will be announced at a later date.
1. New Executive Vice Presidents (as of April 01, 2023)
*In the order of joining the Nidec Group
| No | Name | New post as of April 01, 2023 | Current post |
|---|---|---|---|
| 1 | Toshiyuki Otsuka | Executive Vice President Representative Director and President, Nidec Instruments Corporation |
Representative Director and President, Nidec Sankyo Corporation |
| 2 | Tatsuya Nishimoto | Executive Vice President Executive General Manager of Nidec Machinery and Automation Business Unit Representative Director and President, Nidec Drive Technology Corporation |
Representative Director and President, Nidec-Shimpo Corporation |
| 3 | Yoshihisa Kitao | Executive Vice President Executive General Manager of Group Companies Business Unit In charge of managing Small Platform Motor & Solutions Business Unit |
First Senior Vice President Executive General Manager of Group ompanies Business Unit |
| 4 | Toshihiko Koseki | Executive Vice President CTO, in charge of managing Nidec Product Technology R&D Center, Nidec Center for Production Technology R&D, Nidec System Manufacturing Engineering Center |
First Senior Vice President CTO, in charge of managing Nidec Center for Industrial Science and Technology, Global Production Engineering Division |
| 5 | Mitsuya Kishida | Executive Vice President Executive General Manager of Automotive Motor & Electronic Control Business Unit |
First Senior Vice President Executive General Manager of Automotive Motor & Electronic Control Business Unit CEO in Europe of Automotive Motor & Electronic Control Business Unit In charge of supervising Business in USA & Europe of Automotive Motor & Electronic Control Business Unit |
*On April 01, 2023,
・Nidec Sankyo Corporation will be renamed Nidec Instruments Corporation, and Nidec-Shimpo Corporation will berenamed Nidec Drive Technology Corporation.
・Nidec Machinery and Automation Business Unit will be newly established.
・Nidec Research And Development Center, Nidec Center for Industrial Science and Technology and Global Production Engineering Division will be reorganized to Nidec Product Technology R&D Center, Nidec Center for Production Technology R&D, Nidec System Manufacturing Engineering Center.
2. Nomination Committee
In the meeting of the Board of Directors held on November 05, 2022, the Company established a Nomination Committee as an advisory organ of the Board of Directors. The purpose of the Committee is to have the proper involvement and advice of the independent outside members of the Board of Directors on, among others, the selection policy and criteria, and on the candidates to the offices of Members of the Board of Directors, Vice Presidents, etc., to secure fairness, transparency, and objectivity, and to further improve the quality of the Company’s corporate governance system.
(1) Members of the Nomination Committee
The members of the Nomination Committee are:
Chair: Takako Sakai (Outside Member of the Board of Directors)
Member: Shigenobu Nagamori (Representative Director)
Member: Hiroshi Kobe (Representative Director)
Member: Yayoi Komatsu (Outside Member of the Board of Directors)
Member: Aya Yamada (Outside Member of the Board of Directors)
(2) Activities by the Nomination Committee
The Committee has held a meeting twice so far to deliberate, among other issues, the selection policy and criteria of the Members of the Board of Directors, Vice Presidents, etc., the succession plan, how to utilize it, the draft of the list of candidates for the office of Executive Vice Presidents. These issues were approved in meetings of the Board of Directors.
(3) Policy and criteria to select members of the Board of Directors, Vice Presidents, etc.
The policy and criteria that the Nomination Committee deliberated to select the Members of the Board of Directors, Vice Presidents, etc. are as follows.
(i) Selection policy
Select persons based on, among others, the selection criteria for the posts for the purpose of enhancing Nidec’s global competitiveness, and ensure a sustainable growth and development of the Company’s businesses.
(ii) Selection criteria
| Post | Selection criteria |
|---|---|
| Member of the Board of Directors | Common criteria - The candidate must have professional knowledge and significant insight on business strategy, technology and research and development, internationality and global experience, human resource development, the environment and society, law and compliance, finance and accounting, and governance and risk management; and be able to propose opinions based on an objective, fair, and just viewpoint (among the common criteria, applicable ones are disclosed as a skill matrix). Internal Member of the Board of Directors - The candidate must be able to embody Nidec Way and the 3Q6S policy. Outside Member of the Board of Directors - The candidate must be able to empathize with Nidec Way and the 3Q6S policy. - The candidate must meet the criteria of independence as an Outside Member of the Board of Directors (to prevent, for example, a conflict of interest with general shareholders). |
| President | - The candidate must have excellent leadership skills to be able to contribute to makingcomfortable societies globally via the Nidec Group’s products (solution businesses), and control and lead the entire Nidec Group. |
| Executive Vice President | - Among Nidec’s executives and Nidec Group companies’ Presidents, the candidate must be able to demonstrate outstanding leadership skills for reform, and have made excellent contributions to the Nidec Group. - The candidate must demonstrate potential to serve as President |
| Executive, etc. | - The candidate must be able to exercise Nidec Way, and lead the Nidec Group in a positive direction. - The candidate must be able to maximize the Nidec Group’s corporate value, and possess firm record of achievements that are convincing to everyone. - The candidate must have excellent knowledge and experience, and insight for global diversity to execute the Nidec Group’s businesses. |
*Nidec Way and 3Q6S: Code of conduct and management knowhow to serve as guidance for the entire Nidec Group globally.
3. Process to select Executive Vice Presidents
The five Executive Vice Presidents were selected based on the succession plan and the selection criteria deliberated by the Nomination Committee and revolved by the Board of Directors. As part of the Company’s succession plan, Executive Vice Presidents must be selected from the Company’s executives and Nidec Group companies’ Presidents. In the selection process, based on the selection criteria of Executive Vice Presidents, the members of the Nomination Committee (composed of Internal Members of the Board of Directors) prepared a draft list of candidates, then the three other members of the Committee (the Outside Members of the Board of Directors) interviewed the respective candidates to check thoroughly if they meet the selection criteria, and if they are appropriate as candidates. The candidates were then deliberated by the Nomination Committee, and approved as such in a meeting of the Board of Directors
4. Duties and responsibilities of Executive Vice Presidents Executive Vice Presidents will have the ultimate responsibili
Executive Vice Presidents will have the ultimate responsibility of the organizations they respectively oversee, and support the President based on the perspective of optimizing the performance of the entire Nidec Group.
5. How the new President will be appointed in April 2024
One of the five Executive Vice Presidents will be selected to serve as President effective April 2024. Details of the selection process will be deliberated in the Nomination Committee later. The term of office of President will be four years. After the four years, the President will then be appointed to serve as Chairman, whose term of office will also be four years. In addition, in April 2024, Shigenobu Nagamori, the founder and Chairman of the Company, will become Representative of the Board of Directors. Hiroshi Kobe, also theactive founding member of the Company, will become representative Director, Chairman, and CEO, and later serve as Deputy Representative of the Board of Directors. The founding members will support the business management of the Nidec Group from the respective positions.
For the Nidec Group to grow sustainably, we are poised to further enhance its management and governance of the Nidec Group, and stay committed to managing our businesses stably under the new executive system led by the five Executive Vice Presidents.
6. Career summary of the new Executive Vice Presidents
*In the order of joining the Nidec Group
|
◆Name |
Toshiyuki Otsuka |
 |
| Birth date | July 15, 1965 (age: 57) | |
| Birthplace | Chiba Prefecture, Japan | |
| Education | Bachelor’s degree in Economics, Keio University, Mar. 1989 | |
| Career summary | ||
| Apr. 1989 | Joined Saitama Bank, Ltd. (Currently, Resona Bank, Limited.) | |
| Nov. 2004 | Joined Nidec-Read Corporation | |
| Apr. 2015 | Representative Director and President, Nidec-Read Korea Corporation | |
| Jun. 2017 | Vice President, Nidec-Read Corporation | |
| Oct. 2017 | Senior Vice President | |
| Apr. 2018 | Representative Director and President | |
| May. 2022 | Representative Director and President, Nidec Sankyo Corporation (Current) | |
|
◆Name |
Tatsuya Nishimoto |
 |
|
| Birth date | October 20, 1956 (age: 66) | ||
| Birthplace | Hyogo Prefecture, Japan | ||
| Education | |||
| Bachelor’s degree in Economics, Kwansei Gakuin University, Mar.1979 | |||
| Master of International Management, American Graduate School of International Management, Dec. 1983 | |||
| Career summary | |||
| Apr. 1979 | Joined Mitsui Bank, Ltd. (Currently, Sumitomo Mitsui Banking Corporation) | ||
| Apr. 2008 | Vice President, General Manager of Corporate Sales Division of Shibuya and Yokohama | ||
| May. 2009 | Joined Nidec Corporation | ||
| Jun. 2009 | First Senior Vice President, Nidec-Shimpo Corporation | ||
| Apr. 2013 | Representative Director and President (Current) | ||
| Aug. 2021 | Chairman, Nidec Machine Tool Corporation (Current) | ||
| Jun. 2022 | Chairman, Nidec OKK Corporation (Current) | ||
|
◆Name |
Yoshihisa Kita |
 |
| Birth date | March 14, 1960 (age: 62) | |
| Birthplace | Kyoto Prefecture, Japan | |
| Education | Bachelor’s degree in Economics, Kyoto Sangyo University, Mar.1982 | |
| Career summary | ||
| Apr. 1982 | Joined Sumitomo Bank, Ltd. (Currently, Sumitomo Mitsui Banking Corporation) |
|
| Apr. 2011 | Director, Manager of Corporate Sales Dept.1, Namba | |
| Apr. 2012 | Joined Nidec Corporation | |
| Jul. 2012 | General Manager of Affiliates Administration Department （Currently, Group Companies Business Department ） |
|
| Apr. 2013 | Vice President | |
| May. 2016 | Senior Vice President, in charge of managing Affiliates Administration Department | |
| Jun. 2021 | First Senior Vice President (Current), in charge of managing Group Companies Management Department （Currently, Group Companies Business Department） |
|
| May. 2022 | Executive General Manager of Group Companies Business Unit (Current) | |
|
◆Name |
Toshihiko Koseki |
 |
| Birth date | May 02, 1958 (age: 64) | |
| Birthplace | Fukushima Prefecture, Japan | |
| Education | ||
| Bachelor’s degree in Engineering (Metallurgical Engineering), The University of Tokyo, Mar.1981 | ||
| Master’s degree in Engineering (Metallurgical Engineering), The University of Tokyo, Mar. 1983 | ||
| Doctor’s degree in Materials Engineering, Massachusetts Institute of Technology, Jun. 1994 | ||
| Career summary | ||
| Apr. 1983 | Joined Nippon Steel Corporation | |
| Apr. 2001 | Senior Chief Researcher of Technology Development Division | |
| Oct. 2004 | Professor, School of Engineering, The University of Tokyo | |
| Apr. 2017 | Executive Vice President | |
| Apr. 2018 | Adviser of Nidec Corporation | |
| Apr. 2019 | First Senior Vice President (Current), Nidec Corporation, Head of Nidec Center for Industrial Science and Technology |
|
| May. 2022 | CTO(Chief Technology Officer)(Current) | |
| Awards, etc. | ||
| AWS Comfort A. Adams Lecture Award (2022) | ||
|
◆Name |
Mitsuya Kishida |
 |
| Birth date | February 07, 1960 (age: 63) | |
| Birthplace | Kagawa Prefecture, Japan | |
| Education | Bachelor’s degree in Education, Kyoto University, Mar. 1983 | |
| Career summary | ||
| Apr. 1983 | Joined Sony Corporation | |
| Jan. 2001 | Vice President Product Planning, Sony Ericsson Mobile Communications AB | |
| Apr. 2011 | Executive General Manager of Production, Sony Corporation長 | |
| Jun. 2016 | Executive Officer, Business Executivetd> | |
| Apr. 2018 | Representative and President, Sony Mobile Communications Inc. | |
| Apr. 2021 | Executive Vice President, Sony Corporation, in charge of managing Mobile Communications Unit | |
| Jan. 2022 | Joined Nidec Corporation, Senior Vice President, Deputy Executive General Manager of Automotive Motor & Electronic Control Business Unit |
|
| Jul. 2022 | First Senior Vice President (Current) | |
| Sep. 2022 | Executive General Manager of Automotive Motor & Electronic Control Business Unit (Current) | |
