Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (NJDCY) announced the status of its ongoing share repurchase plan, revealing that from January 25, 2024, through January 31, 2024, the company repurchased 0 of its own common shares, amounting to 0 yen. The Board of Directors had authorized the repurchase of up to 2,000,000 shares, totaling 11 billion yen, from January 25, 2024, through May 24, 2024. However, no shares were repurchased during the specified period.

(Repurchase of own shares, pursuant to the Company’s Articles of Incorporation based on the provisions of Item 1 of Article 459 (1) of the Companies Act of Japan)

KYOTO, Japan--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company”) today announced the status of the Company’s own share repurchase under its ongoing repurchase plan resolved at a meeting of the Board of Directors held on January 24, 2024, pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan.

Details of Share Repurchase

1. Period of own share repurchase: From January 25, 2024 through January 31, 2024
2. Class of shares: Common stock
3. Number of own shares repurchased: 0
4. Total repurchase amount: 0 yen

Note: The above repurchase information has been prepared on the basis of trade date.

Reference

A) Details of the share repurchase plan authorized by the Board of Directors on January 24, 2024:

1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 2,000,000 shares
   (0.34% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 11 billion yen
4. Period of repurchase: From January 25, 2024 through May 24, 2024

B) Total number and yen amount of own shares repurchased from January 25, 2024 through January 31, 2024, pursuant to the Board of Directors resolution above:

1. Total number of own shares repurchased: 0
2. Total repurchase amount: 0 yen

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240131652562/en/

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: NIDEC CORPORATION

FAQ

What is the status of Nidec Corporation's ongoing share repurchase plan?

Nidec Corporation announced that from January 25, 2024, through January 31, 2024, the company repurchased 0 of its own common shares, amounting to 0 yen.

What is the total number of shares that may be repurchased according to the Board of Directors' authorization?

The Board of Directors authorized the repurchase of up to 2,000,000 shares, totaling 11 billion yen, from January 25, 2024, through May 24, 2024.

How many shares were actually repurchased during the specified period?

No shares were repurchased from January 25, 2024, through January 31, 2024, despite the authorization for repurchasing up to 2,000,000 shares.