Nidec Corporation announced that changes to Chairman and President will place Mr. Shigenobu Nagamori in the position of serving as a Founder, Executive Chairman and a Representative Director for up to four years. In addition to the roles of passing down his philosophy as Nidec?s founder and further enhancing the Company?s centripetal force as a global business group, Mr. Nagamori will utilize his decades-long experience in the area of M&A - an element that supports the Nidec Group?s growth - to continue to engage in corporate acquisition. Mr. Hiroshi Kobe will serve as a Member of the Board of Director and Chairman for up to four years, during which he will help the new President win the hearts and minds of the Nidec Group?s employees in the transition to the new management, while working as a liaison between the group and the President to lay out its new executive management.

The change, to take effect on June 18, 2024, is planned to be resolved at an ordinary General Meeting of Shareholders and a subsequent meeting of the Board of Directors, both to be held on the above date, where Mr. Kishida, President is expected to assume the office of a Representative Director. Messrs. Nagamori and Kishida will be the Company?s Representative Directors as of June 18, 2024.

Company appointed Mitsuya Kishida as President . Birthdate is February 07, 1960 (Age: 64). Birthplace is Kagawa Prefecture.

Education as follows March 1983: Bachelor?s degree in Education, Kyoto University. Career includes April 1983 Joined Sony Corporation. January 2001: Vice President Product Planning, Sony Ericsson Mobile Communications AB April 2011: Executive General Manager of Production, Sony Corporation.

June 2016: Executive Officer, Business Executive. April 2018: Representative and President, Sony Mobile Communications Inc. April 2021 is Executive Vice President, Sony Corporation in charge of managing Mobile Communications Unit. January 2022: Joined Nidec Corporation as Senior Vice President and Deputy Executive General Manager of Automotive Motor & Electronic Control Business Unit.

July 2022: First Senior Vice President. September 2022: Executive General Manager of Automotive Motor & Electronic Control Business Unit (current position) April 2023: Executive Vice President (current position). The effective date of the changes from April 01, 2024.

Mr. Toshiyuki Otsuka, who is currently serving as an Executive Vice President, will leave office, and continue to serve as the Representative Director and President of Nidec Instruments Corporation. The members of the Company?s 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) and; Member: Aya Yamada (Outside Member of the Board of Directors).