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    6594   JP3734800000

NIDEC CORPORATION

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Nidec : Japan's Nidec files HDD patent infringement suit against Seagate

01/19/2021 | 09:51pm EDT
FILE PHOTO: Nidec Corp's logo is pictured at an earnings results news conference in Tokyo

TOKYO (Reuters) - Japan's Nidec Corp said on Wednesday it had filed a patent infringement lawsuit against Seagate Technology LLC and its affiliates, accusing it of using Nidec hard disk drive motor designs without permission.

The suit was filed on Jan. 18 in the U.S. District Court in Delaware, Nidec said in a statement.

The Japanese component maker wants the court to award it appropriate compensation based on sales made by Seagate, a Nidec spokesman said.

At issue were spindle motor designs used to spin the HDD disk and the base plate the disk sits in, the spokesman said.

Seagate did not immediately respond to a request for comment.

Nidec has about 85% of the global market for HDD motors, which are used in computers and other devices including data centre equipment. Those motors account for around a tenth of the company's revenue.

(Reporting by Tim Kelly and Chang-Ran Kim; Editing by Leslie Adler and Stephen Coates)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NIDEC CORPORATION -1.71% 11765 End-of-day quote.-9.36%
SEAGATE TECHNOLOGY PLC 3.22% 87.13 Delayed Quote.35.79%
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Financials
Sales 2021 1 588 B 14 504 M 14 504 M
Net income 2021 121 B 1 104 M 1 104 M
Net Debt 2021 393 B 3 587 M 3 587 M
P/E ratio 2021 57,3x
Yield 2021 0,52%
Capitalization 6 891 B 62 860 M 62 951 M
EV / Sales 2021 4,59x
EV / Sales 2022 4,11x
Nbr of Employees 117 206
Free-Float 85,4%
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Technical analysis trends NIDEC CORPORATION
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Average target price 15 463,16 JPY
Last Close Price 11 765,00 JPY
Spread / Highest target 54,7%
Spread / Average Target 31,4%
Spread / Lowest Target -32,9%
EPS Revisions
Managers and Directors
NameTitle
Shigenobu Nagamori Chairman & Chief Executive Officer
Jun Seki President, COO & Representative Director
Takayuki Sakurai Chief Financial Officer & Executive Officer
Mikio Katayama Chief Technology Officer & Executive VP
Teiichi Sato Independent Director
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