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Japan-Update

Motor king Nagamori pins hopes on deputy in Nidec succession

Ex-Nissan executive to take on presidency; market's initial response lukewarm

Incoming President Hiroyuki Yoshimoto, left, and Nagamori at the news conference in Kyoto.

KYOTO -- Japanese motor producer Nidec, whose rapid growth is almost synonymous with legendary founder Shigenobu Nagamori, has taken a first step toward a full leadership change by naming the long-reigning CEO's second in command.

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