Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the status of its share repurchase plan resolved on January 25, 2021. For the period from June 1 to June 30, 2021, the company reported a total of 0 shares repurchased with a total repurchase amount of 0 yen. From January 26, 2021, to June 30, 2021, Nidec repurchased 404,800 shares for 4.82 billion yen. The total allowable repurchase is up to 4 million shares (0.68% of issued shares) with a budget of 50 billion yen until January 25, 2022.

Positive

• Repurchased 404,800 shares valued at 4.82 billion yen since the plan's start.
• Total allowable repurchase of up to 4 million shares enhances shareholder value.

Negative

• No shares repurchased in June 2021 indicates potential lack of market confidence.

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

KYOTO, Japan, July 01, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 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 25, 2021, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

Details are as follows:

Details of Share Repurchase 　
1. Period of own share repurchase: From June 1, 2021 through June 30, 2021
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) The following details were resolved by the Company’s Board of Directors on January 25, 2021:
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 4,000,000 shares　
(0.68% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From January 26, 2021 through January 25, 2022

B) Total number and yen amount of own shares repurchased from January 26, 2021 through June 30, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 404,800
2. Total repurchase amount: 4,824,927,000 yen

Contact:
	Masahiro Nagayasu
	General Manager
	Investor Relations
	+81-75-935-6140
	ir@nidec.com

FAQ

What is the status of Nidec Corporation's share repurchase for June 2021?

Nidec Corporation repurchased 0 shares in June 2021.

How many shares has Nidec repurchased since the program began?

As of June 30, 2021, Nidec repurchased a total of 404,800 shares.

What is the total amount allocated for Nidec's share repurchase plan?

The total repurchasable amount is 50 billion yen.

What percentage of shares does Nidec plan to repurchase?

Nidec plans to repurchase up to 0.68% of total issued shares.

When does Nidec's share repurchase plan expire?

The repurchase plan is effective until January 25, 2022.