Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation has announced the status of its own share repurchase under its ongoing repurchase plan. The repurchase period is from October 1, 2023, to October 31, 2023, and the class of shares is common stock. However, no shares have been repurchased and the total repurchase amount is 0 yen. The company had previously authorized a share repurchase plan of up to 5,000,000 shares, representing 0.87% of the total number of shares issued, with a total repurchasable amount of 35 billion yen.

(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--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 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 24, 2023, 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 October 1, 2023 through October 31, 2023
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) Details of the share repurchase plan authorized by the Board of Directors on January 24, 2023:

1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 5,000,000 shares
   (0.87% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 35 billion yen
4. Period of repurchase: From January 25, 2023 through January 24, 2024

B) Total number and yen amount of own shares repurchased from January 25, 2023 through October 31, 2023, pursuant to the Board of Directors resolution above:

1. Total number of own shares repurchased: 1,171,400
2. Total repurchase amount: 7,865,806,100 yen

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20231031588075/en/

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: NIDEC CORPORATION

FAQ

What is the status of Nidec Corporation's own share repurchase?

Nidec Corporation has announced the status of its own share repurchase. No shares have been repurchased and the total repurchase amount is 0 yen.

What is the period of the share repurchase?

The share repurchase period is from October 1, 2023, to October 31, 2023.

What class of shares is being repurchased?

The class of shares being repurchased is common stock.

What is the total number of shares that may be repurchased?

The total number of shares that may be repurchased is up to 5,000,000 shares, which represents 0.87% of the total number of shares issued, excluding treasury stock.

What is the total repurchasable amount?

The total repurchasable amount is 35 billion yen.