Japan's Nidec on hunt for machine tool acquisition, possibly European

KYOTO -- Nidec group is considering acquiring a machine tool maker with 50 billion yen ($330 million) or more in sales as part of a push to lift revenue, Haruhiko Niitani, president of group unit Nidec Machine Tool, told Nikkei, possibly a company located in Europe.

The Japanese motor maker entered the machine tool sector with the 2021 purchase of Mitsubishi Heavy Industries Machine Tool. Further acquisitions have lifted machine tool sales to around 120 billion yen, which the group aims to expand to 500 billion yen by fiscal 2030.