Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced that from February 1 to February 28, 2021, it repurchased 0 shares under its ongoing buyback program.

The Board had previously authorized a plan on January 25, 2021, allowing for repurchases of up to 4 million shares (0.68% of total shares) for a maximum of 50 billion yen from January 26, 2021, to January 25, 2022. As it stands, no shares have been repurchased during the specified period, indicating no current financial outflow related to this program.

Positive

• Company authorized an extensive buyback program of up to 4 million shares.
• Potentially positive impact on shareholder value and earnings per share (EPS) in the long term.

Negative

• Complete lack of share repurchases during the reporting period raises concerns regarding execution or market conditions.
• No financial outflow may indicate a cautious approach, limiting immediate shareholder benefits.

03/01/2021 - 01:30 AM

(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, March 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 February 1, 2021 through February 28, 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 February 28, 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 program as of February 2021?

As of February 2021, Nidec has repurchased 0 shares during the designated period.

What is the total number of shares Nidec plans to repurchase?

Nidec aims to repurchase up to 4 million shares under its approved buyback plan.

How much money is allocated for Nidec's share repurchase program?

The total amount allocated for repurchases is 50 billion yen.

What is the timeframe for Nidec's share buyback program?

The buyback program is set from January 26, 2021, to January 25, 2022.

How can investors interpret Nidec's lack of repurchased shares?

The absence of share repurchases may reflect market conditions or hesitance in executing the buyback strategy.