JPMorgan Announces Nidec ADR Follow-On Offering

Business Wire, Feb 1, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--February 1, 2002

JPMorgan announced today that Nidec Corporation (NYSE:NJ), a manufacturer of ultra-small precision motors, based in Japan, has completed a $167 million global follow-on offering of shares, of which $21.6 million was in American Depositary Receipt (ADR) form.

ADR closing date:                   February 1, 2002
ADRs placed:                        400,000
ADR price:                          $53.96
Total ADR offering:                 $21,584,000
Exchange:                           NYSE
Symbol:                             NJ
Ratio:                              1 ADR: 1 common share
CUSIP:                              654090109
Share class:                        Common shares
Country of incorporation:           Japan
Local exchanges:                    Osaka and Tokyo Stock Exchanges
Industry:                           Electrical equipment
Depositary:                         JPMorgan Chase Bank
Custodian:                          Bank of Tokyo Mitsubishi

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of more than $694 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, retail and middle market financial services, and e-finance. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. For more information, visit jpmorganchase.com and JPMorgan's adr.com, the central source for information on ADRs and international equities.

Neither this announcement nor the information contained herein constitutes an offer or solicitation by JPMorgan for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. An offering is made by means of a prospectus only. Information herein is believed to be reliable, but JPMorgan does not warrant its completeness or accuracy.