Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) has announced the repurchase of 404,800 shares, totaling approximately 4.82 billion yen, under its ongoing share buyback program. The repurchase occurred from May 1 to May 31, 2021. The company has a broader plan allowing for the repurchase of up to 4 million shares (0.68% of total shares issued) by January 25, 2022, with a total budget of 50 billion yen allocated for this initiative. This buyback is part of the company's strategy to enhance shareholder value and reflects confidence in its future performance.

Positive

• Repurchased 404,800 shares, enhancing shareholder value.
• Demonstrates management's confidence with a total repurchase budget of 50 billion yen.

Negative

• None.

(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, June 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 May 1, 2021 through May 31, 2021
2. Class of shares: Common stock
3. Number of own shares repurchased: 404,800
4. Total repurchase amount: 4,824,927,000 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 May 31, 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 recent share repurchase announcement by Nidec Corporation (NJDCY)?

Nidec Corporation announced the repurchase of 404,800 shares totaling approximately 4.82 billion yen from May 1 to May 31, 2021.

How many shares can Nidec Corporation repurchase under its plan?

Nidec Corporation is allowed to repurchase up to 4 million shares (0.68% of total shares issued) by January 25, 2022.

What is the total budget for Nidec Corporation's share repurchase program?

The total budget for the share repurchase program is 50 billion yen.

When did Nidec Corporation's share repurchase period start?

The share repurchase period started on May 1, 2021.

How will the share repurchase affect Nidec Corporation's stock price?

While the exact effect on stock price can vary, share repurchases generally suggest management's confidence and can positively influence stock performance.