Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) reported no share repurchases for September 2021, despite a previously authorized buyback plan of up to 4 million shares, totaling 50 billion yen, set to last until January 2022. As of September 30, 2021, the company has repurchased 404,800 shares for approximately 4.82 billion yen since the buyback program's initiation on January 26, 2021. The lack of repurchases this past month may indicate strategic financial management while still engaging in share buybacks throughout the program.

Positive

• Total shares repurchased since Jan 2021: 404,800 shares
• Funds utilized in buyback program amount to 4.82 billion yen, indicating commitment to shareholder value.

Negative

• No shares repurchased in September 2021, which may raise concerns about the buyback strategy's effectiveness.
• Total repurchase amount has only reached 9.65% of the planned 50 billion yen, indicating slower than expected repurchase pace.

(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, Oct. 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 September 1, 2021 through September 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 September 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 buyback for September 2021?

Nidec Corporation reported no share repurchases for September 2021.

How many shares has Nidec repurchased since the buyback program started?

Since the start of the buyback program on January 26, 2021, Nidec has repurchased 404,800 shares.

What was the total amount authorized for the share buyback program by Nidec Corporation?

Nidec's total buyback authorization is set at 50 billion yen.

When does Nidec Corporation's share buyback program end?

The share buyback program is scheduled to end on January 25, 2022.