Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) reported on November 1, 2021, the status of its share repurchase plan initiated on January 25, 2021. The repurchase period ran from October 1 to October 31, 2021, where 805,000 shares were repurchased at a total cost of 9.41 billion yen. This contributes to the ongoing effort to enhance shareholder value as part of a broader plan allowing for repurchases of up to 4 million shares for a total of 50 billion yen by January 25, 2022.

Positive

• 805,000 shares repurchased indicating strong shareholder value focus.
• Total repurchase amount of 9.41 billion yen demonstrates commitment to returning capital.
• Repurchase contributes to reducing share dilution and potentially boosting EPS.

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, Nov. 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 October 1, 2021 through October 31, 2021
2. Class of shares: Common stock
3. Number of own shares repurchased: 805,000
4. Total repurchase amount: 9,412,126,000 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 October 31, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 1,209,800
2. Total repurchase amount: 14,237,053,000 yen

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

FAQ

What was the total number of shares repurchased by Nidec Corporation during October 2021?

Nidec Corporation repurchased a total of 805,000 shares during October 2021.

How much did Nidec spend on share repurchases in October 2021?

Nidec spent 9.41 billion yen on share repurchases in October 2021.

What is the total buyback amount authorized by Nidec Corporation?

Nidec Corporation has authorized a total buyback amount of up to 50 billion yen.

What is the share repurchase period for Nidec Corporation's ongoing plan?

The current share repurchase plan for Nidec Corporation runs from January 26, 2021, to January 25, 2022.

How many total shares has Nidec repurchased since the beginning of the buyback program?

Since the beginning of the buyback program, Nidec has repurchased a total of 1,209,800 shares.