Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TOKYO:6594; OTC US:NJDCY) has announced the status of its own share repurchase under an ongoing plan resolved at a meeting of the Board of Directors. The company repurchased 1,171,400 shares for a total amount of 7,865,806,100 yen from January 25, 2023, through December 31, 2023.

(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 December 1, 2023 through December 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 December 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/20240104700553/en/

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What is the ticker symbol for Nidec Corporation?

The ticker symbol for Nidec Corporation is TOKYO:6594 and OTC US:NJDCY.

When did Nidec Corporation announce the share repurchase plan?

The share repurchase plan was announced at a meeting of the Board of Directors on January 24, 2023.

How many shares did Nidec Corporation repurchase from January 25, 2023, through December 31, 2023?

Nidec Corporation repurchased a total of 1,171,400 shares during this period.

What was the total repurchase amount for Nidec Corporation's share repurchase?

The total repurchase amount for Nidec Corporation's share repurchase was 7,865,806,100 yen.