GREENVILLE, S.C., March 31, 2017 (GLOBE NEWSWIRE) -- KEMET Corporation (NYSE:KEM), a leading global supplier of passive electronic components, announced today that its acquisition, through its wholly owned subsidiary, KEMET Electronics Corporation (“KEC”), of NEC TOKIN Corporation (“NEC TOKIN”) from NEC Corporation is expected to close on or about April 19, 2017. In a related transaction, the sale of NEC TOKIN’s EMD division (Electromechanical Devices) to Japan Industrial Partners, Inc. (through its special purpose entity, NTJ Holdings 1 Ltd.) is expected to close on or about April 14, 2017.

Expected closing dates for the NEC TOKIN acquisition and EMD sale have been adjusted from previously announced targeted closing dates of April 10 and April 3, respectively, to provide for the completion of a regulatory review in the Philippines regarding the EMD sale.

For details of the agreement between NEC and KEMET, and the agreement among NEC TOKIN, NTJ Holdings 1 Ltd. and Japan Industrial Partners, please refer to the Company’s Form 8-K filed on February 23, 2017 related to these transactions.

About KEMET

The Company's common stock is listed on the NYSE under the ticker symbol "KEM" (NYSE:KEM). At the Investor Relations section of our web site at http://www.kemet.com/IR, users may subscribe to KEMET news releases and find additional information about our Company. KEMET offers our customers the broadest selection of capacitor technologies in the industry, along with an expanding range of electromechanical devices, electromagnetic compatibility solutions and supercapacitors. Our vision is to be the preferred supplier of electronic component solutions demanding the highest standards of quality, delivery and service. Additional information about KEMET can be found at http://www.kemet.com.