Nidec Files A Shelf Registration To Raise 200 Billion Yen

Nidec Corporation (ADR) (NYSE: NJ) announced a new shelf registration to "enhance the Company's flexibility and agility" in obtaining financing.

Nidec plans on raising up to 200 billion Yen, or approximately $1.76 billion. The company noted it plans on using the proceeds for equipment and machinery, lending and investing purposes, redemption and repayment of short-term and other debt, and for general corporate purposes, including working capital and other operating expenses.

Nidec's new offering will replace an already existing shelf registration that will expire on April 4, 2016. The new registration will be valid until April 4, 2018.

Nidec's stock showed no trades early Monday morning and lost 1.92 percent to close at $17.40 on Thursday.