Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its share repurchase status on August 1, 2022. The company repurchased 970,400 shares totaling 8,465,883,100 yen during July 2022, as part of its ongoing plan authorized on April 21, 2022. By July 31, 2022, a total of 5,070,400 shares had been repurchased for 42,820,160,700 yen, out of a maximum of 5,500,000 shares allowable under the plan. This initiative reflects confidence in enhancing shareholder value.

Positive

• Repurchased 970,400 shares for 8,465,883,100 yen, enhancing shareholder value.
• Total repurchases from April 22, 2022, to July 31, 2022, now at 5,070,400 shares for 42,820,160,700 yen, with 50 billion yen available for future buybacks.

Negative

• None.

(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, Aug. 01, 2022 (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 April 21, 2022, 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 July 1, 2022 through July 31, 2022
2. Class of shares: Common stock
3. Number of own shares repurchased: 970,400
4. Total repurchase amount: 8,465,883,100 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 April 21, 2022:
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 5,500,000 shares　
    (0.95% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From April 22, 2022 through January 24, 2023

B) Total number and yen amount of own shares repurchased from April 22, 2022 through July 31, 2022, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 5,070,400
2. Total repurchase amount: 42,820,160,700 yen

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

FAQ

What is the total number of shares Nidec Corporation repurchased through July 31, 2022?

Nidec Corporation repurchased a total of 5,070,400 shares through July 31, 2022.

How much did Nidec Corporation spend on share repurchases in July 2022?

In July 2022, Nidec Corporation spent 8,465,883,100 yen on share repurchases.

What is the total amount allocated for Nidec Corporation's share repurchase plan?

Nidec Corporation's total repurchase amount allocated is 50 billion yen.

What period did Nidec Corporation's latest share repurchase take place?

The latest share repurchase took place from July 1, 2022, to July 31, 2022.

What is the maximum number of shares Nidec Corporation can repurchase under the current plan?

Under the current plan, Nidec Corporation can repurchase up to 5,500,000 shares.