Press release from the Competition Council regarding the economic concentration project concerning the acquisition of exclusive control of the company ‘NSK Steering & Control Inc.’ by the company ‘NSK Ltd.’ through the acquisition of an additional 50.1% of its share capital and associated voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘operation summary’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• The acquirer: The company ‘NSK Ltd.’;
• The target: The company ‘NSK Steering & Control Inc.’.

Nature of the operation

• Acquisition of exclusive control.

Economic sectors concerned

• Automotive industry sector.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. June 16, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of a concentration operation concerning the exclusive control acquisition by the company ‘NSK Ltd.’ of the company ‘NSK Steering & Control Inc.’ through the acquisition of an additional 50.1% of the shares held by the investment fund ‘Japan Industrial Solutions III Investment Limited Partnership’ (‘JIS’).

‘NSK Ltd.’ is a Japanese company headquartered at 1-6-3, Ohsaki, Shinagawa-ku, Tokyo 141-8560, Japan. ‘NSK’ is a global industrial group specializing in the manufacture of bearings, automotive components, and precision products.

‘Japan Industrial Solutions III Investment Limited Partnership’ (‘JIS’) is a Japanese private investment fund managed by ‘Japan Industrial Solutions Co., Ltd.’, specializing in investments in Japanese companies to support their recovery or growth.

‘NSK Steering & Control Inc.’ (‘NSCI’) is a company specializing in the development, manufacture, and sale of steering systems for motor vehicles, including electric power steering (EPS) systems. ‘NSCI’ is present in Morocco through its subsidiary ‘NSK Steering Systems Morocco SARL’, based in Tangier.

 

Done in Rabat, June 5, 2025.