Nidec holds board meeting, new members take office

A press conference was held on February 4 to announce the board resolution regarding the change of directors of the company. The main points of the speeches of the attendees are as follows. 

Chairman and CEO of Nagamori Shigenobu Group

　At present, in order to meet the needs of major global automobile manufacturers for the new product of the drive motor system, our company is further increasing its investment in the field of new energy vehicles. Although the electric power steering system, electric brake system and other types of automotive motors produced by our company, which are directly related to the safety of passengers' lives, are widely praised in the industry and sales are steadily rising, if we really want to replace traditional fuel engines with drive motors, it is important to carry out technological innovation in a bold manner, and the production and manufacturing of products also play a pivotal role. This time, our company is fortunate to have an expert who is proficient in product production technology and has sufficient management leadership ability to join our team. In the future, he will be fully responsible for this key industry that is related to the lifeblood of our company. This is the main purpose of my decision to change the leader.

    The former president, Yoshimoto, is a hardworking and talented person with great potential. However, in the face of the current severe economic situation, Yoshimoto is still inexperienced and needs to improve his ability to lead a company of Nidec's size to smoothly weather the storm. Our company values ​​the personal strength and work results of leaders, and I believe he will have a great chance to return to the position of president in the future. I hope he can accumulate more experience while he is young and return to the position of president one day.

  I would like to express my deepest apologies for the inconvenience caused to Nissan by Jun Seki's invitation to serve as our president. However, "building a 10 trillion yen company" has been my dream since I started from scratch in 1973, and in order to create another company of this scale in Japan, I dare to "borrow" a talented person from Nissan to help me. Together, we will redouble our efforts to build a 10 trillion yen company.

Jun Guan New President, Executive Director (Chief Operating Officer)*

    I worked at my previous company for 34 years, and the first 20 years were mainly engaged in the production of automobile engines. Nidec's products and production processes gave me a sense of déjà vu, and I should be able to get started quickly. In the remaining 14 years, I was mainly responsible for production planning and product planning for half of the time, and for the sales of complete vehicles and company management for the other half of the time. From 2013 to 2017, I was stationed in China and served as the president of a joint venture established by Nissan and a domestic Chinese automaker. The indissoluble bond with product production has brought me new opportunities. With the affirmation and encouragement of Chairman Nagamori, I will do my best to build a bright road with Chairman Nagamori to a company with a revenue of 10 trillion yen.

    I have always believed that corporate benefits are the only basis for sustainable development. Only by creating benefits can our customers, shareholders and investors, partners, and especially employees be convinced of the sustainable development of the company. I firmly believe that through our efforts we can achieve the ultimate goal of "a company with revenue of 10 trillion yen." For this goal, I chose Nidec.

    When the era enters 2030, the popularity of new energy vehicles will be beyond our imagination. Of the nearly 90 million new cars demanded each year worldwide, new energy vehicles account for at least 30%, or 30 million vehicles. Therefore, in order to meet the rapid growth of the demand for new energy vehicles in the future automotive market, we must speed up the improvement of the production system. In addition, the drive motor is directly related to the driving performance of new energy vehicles, and cultivating a group of professional talents in new energy vehicles is also our top priority.

  My first task is to lead our automotive industry to create benefits, and I am confident in this. However, our company also has small precision motors, home appliance industrial motors, and other industries. We must make all industries create benefits, so that we can achieve the goal of a 10 trillion yen company. New and unique products are the most attractive to consumers and are most likely to become the products that create benefits the fastest. Small precision motors, home appliance industrial motors, and other industries should also seize business opportunities and go all out to achieve a 10 trillion yen company.

* The new position will take effect on June 17, 2020 (tentative)