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Nidec Announces the Status of Own Share Repurchase

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Tags
buyback
Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) reported no share repurchases between April 1, 2021, and April 30, 2021, under its ongoing buyback plan. The buyback plan, approved on January 25, 2021, allows for the repurchase of up to 4 million shares, representing 0.68% of total shares issued, with a total repurchasable amount of 50 billion yen. However, as of the end of April 2021, the company has not executed any repurchases, with the total number and value of shares repurchased being 0.

Positive
  • None.
Negative
  • No shares were repurchased during the specified period.
  • Total repurchase amount remains at 0 yen, raising concerns about the effectiveness of the buyback plan.

(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, May 06, 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 April 1, 2021 through April 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 April 30, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 0
2. Total repurchase amount: 0 yen

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


FAQ

What is the status of Nidec's share repurchase plan as of April 2021?

As of April 2021, Nidec reported no shares repurchased under its ongoing buyback plan.

How many shares is Nidec authorized to repurchase?

Nidec is authorized to repurchase up to 4 million shares, which is 0.68% of the total number of shares issued.

What is the total repurchasable amount for Nidec's buyback plan?

The total repurchasable amount for Nidec's buyback plan is 50 billion yen.

When was Nidec's buyback plan approved?

Nidec's buyback plan was approved on January 25, 2021.

What were the results of Nidec's share repurchase from January 2021 to April 2021?

From January 2021 to April 2021, Nidec repurchased 0 shares and spent 0 yen.

NIDEC CORP ADR

OTC:NJDCY

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21.39B
4.60B
0.17%
0.01%
Specialty Industrial Machinery
Industrials
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United States of America
Kyoto