NIDEC CORP ADR - NJDCY STOCK NEWS

Nidec (NJDCY) reported strong financial results for H1 FY2024. Net sales reached a record high of ¥1,293.8 billion, up 11.8% year-over-year. Operating profit also hit a record high of ¥121.0 billion, increasing 4.9% compared to the previous year. However, profit before income taxes decreased 30.9% to ¥100.174 billion, and profit attributable to owners dropped 28.5% to ¥75.572 billion. The operating profit ratio slightly declined to 9.4% from 10.0% in the previous year. Earnings per share decreased to ¥65.76 from ¥91.99 in the same period last year.

Nidec (TOKYO:6594; OTC US: NJDCY) has announced the status of its own share repurchase program, which was authorized by the Board of Directors on July 23, 2024. The repurchase plan allows for up to 10,000,000 common shares (0.87% of total shares issued, excluding treasury stock) to be bought back, with a total repurchasable amount of 35 billion yen. The repurchase period is set from May 27, 2024 through May 26, 2025.

For the period from September 1, 2024 through September 30, 2024, Nidec reported that no shares were repurchased, with the total repurchase amount being 0 yen. Additionally, the company disclosed that from the start of the program on May 27, 2024 through September 30, 2024, no shares have been repurchased, and the total repurchase amount remains at 0 yen.

Nidec (TOKYO: 6594; OTC US: NJDCY) has announced its decision to acquire Linear Transfer Automation Inc., Linear Automation USA Inc., and Presstrader , collectively known as 'Linear', on October 1, 2024. Linear, a Canadian-based company, specializes in manufacturing, sales, and service for press peripheral equipment. With 90 employees and sales of 39.6 million CAD in FY2023, Linear serves major automobile manufacturers and Tier 1 and 2 suppliers.

This acquisition aims to enhance Nidec's Press & Automation Machine Business, which reported sales of 66.7 billion yen in FY2024. The synergies expected include offering total system solutions, expanding sales through cross-selling, and deploying Linear's products globally using Nidec's infrastructure. The transaction is not expected to significantly impact Nidec's consolidated financial performance for the fiscal year ending March 31, 2025.

Nidec (TOKYO: 6594; OTC US: NJDCY) has announced the status of its own share repurchase program, approved by the Board of Directors on May 24, 2024. The repurchase plan allows for up to 5,000,000 common shares (0.87% of total shares issued, excluding treasury stock) to be bought back, with a total repurchasable amount of 35 billion yen. The repurchase period runs from May 27, 2024, through May 26, 2025.

However, for the period from August 1, 2024, through August 30, 2024, Nidec reported that no shares were repurchased, and the total repurchase amount remained at 0 yen. This update is part of the company's ongoing commitment to transparency in its share repurchase activities.

Nidec (TOKYO: 6594; OTC US: NJDCY) has won a defamation lawsuit against Toyo Keizai Inc. and related individuals. The Tokyo District Court ruled in favor of Nidec, stating that Toyo Keizai's reporting on alleged insider trading by Nidec was false and insufficiently researched. The court ordered Toyo Keizai to pay damages and remove the defamatory article. This ruling confirms that Nidec properly acquired treasury stock in compliance with applicable laws and regulations, clearing the company of insider trading suspicions. Nidec reaffirms its commitment to conducting business activities in accordance with legal and regulatory requirements.

Nidec (TOKYO: 6594; OTC US: NJDCY) has announced the status of its ongoing share repurchase program. The program, authorized by the Board of Directors on May 24, 2024, allows for the repurchase of up to 5,000,000 common shares (0.87% of total shares issued, excluding treasury stock) for a total amount of up to 35 billion yen. The repurchase period is set from May 27, 2024 through May 26, 2025.

For the period from July 1, 2024 through July 31, 2024, Nidec reported that no shares were repurchased. Similarly, from the program's start on May 27, 2024, through July 31, 2024, no shares have been repurchased, and the total repurchase amount remains at 0 yen.

Nidec (TOKYO: 6594) (OTC US: NJDCY) reported record-high consolidated net sales and operating profit for Q1 FY2024 ended June 30, 2024. Net sales increased 14.8% to ¥648,166 million, while operating profit slightly rose 0.1% to ¥60,259 million. The company's operating profit was boosted by a shift to a highly profitable business portfolio in Small Precision Motors and gains from consolidating Nidec PSA eMotors SAS. However, profit attributable to owners decreased 12.5% to ¥56,044 million. Nidec has revised its FY2024 full-year and first-half forecasts upward. The company also announced a 2-for-1 stock split effective October 1, 2024.

Nidec (NJDCY) has announced the disposal of 381,600 shares of treasury stock through third-party allotment, valued at 6,812 yen per share, totaling 2,599,459,200 yen. The disposal is part of the continuation of the company's Performance Share Plan for directors and executives until 2027.

The plan includes two trusts:

• Board Incentive Plan (BIP) Trust for directors and executives
• Employee Stock Ownership Plan (ESOP) Trust for executives in Japan and overseas

The shares will be allotted to The Master Trust Bank of Japan, as co-trustee. The disposal aims to provide incentives to directors and executives, with shares to be delivered based on performance and position. The dilution effect is expected to be minimal at 0.06% of total outstanding shares.

Nidec (TSE: 6594, OTC US: NJDCY) has signed a memorandum of understanding (MOU) with Tata Elxsi , a Tata Group company specializing in design and technology services. The partnership aims to leverage Tata Elxsi's expertise to enhance Nidec's software development capabilities, particularly in the automotive sector. This collaboration will focus on developing software for Indian and other markets, localizing Nidec products, and establishing a global software development base for the Nidec Group.

Tata Elxsi brings valuable experience in autonomous driving, electrification, and connected car solutions. With over 13,000 engineers and specialists worldwide, Tata Elxsi is well-positioned to support Nidec's expansion in software-defined vehicles (SDV) and other technological advancements.