Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced a share repurchase of 500,000 shares totaling 4.24 billion yen under its ongoing buyback plan from April 22 to April 30, 2022. This repurchase aligns with the plan authorized on April 21, 2022, allowing up to 5.5 million shares (0.95% of total issued shares). The total buyback cap is set at 50 billion yen until January 24, 2023, aimed at enhancing shareholder value and optimizing capital structure.

Positive

• Share repurchase of 500,000 shares boosts shareholder value.
• Total buyback authorized up to 5.5 million shares enhances investor confidence.
• Repurchase plan reflects strong capital management strategy.

Negative

• None.

(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, May 06, 2022 (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 April 21, 2022, 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 April 22, 2022 through April 30, 2022
2. Class of shares: Common stock
3. Number of own shares repurchased: 500,000
4. Total repurchase amount: 4,241,645,400 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 April 21, 2022:
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 5,500,000 shares　
(0.95% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From April 22, 2022 through January 24, 2023

B) Total number and yen amount of own shares repurchased from April 22, 2022 through April 30, 2022, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 500,000
2. Total repurchase amount: 4,241,645,400 yen

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

FAQ

What is the purpose of Nidec Corporation's share repurchase?

The share repurchase aims to enhance shareholder value and optimize capital structure.

How many shares did Nidec Corporation repurchase recently?

Nidec Corporation repurchased 500,000 shares in April 2022.

What is the total amount spent on the recent share repurchase by Nidec Corporation?

The total amount spent on the recent share repurchase was 4.24 billion yen.

What is the limit on the total number of shares Nidec Corporation can repurchase?

Nidec Corporation can repurchase up to 5.5 million shares under its buyback plan.

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

The share repurchase plan is valid from April 22, 2022, to January 24, 2023.