Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TOKYO:6594; OTC US: NJDCY) announced the status of its own share repurchase under an ongoing plan. The company repurchased 1,171,400 shares for 7,865,806,100 yen from January 25, 2023, through November 30, 2023, out of a total of 5,000,000 shares that may be repurchased under the plan, amounting to 0.87% of the total number of shares issued, excluding treasury stock. The repurchase period is from January 25, 2023, through January 24, 2024, with a total repurchasable amount of 35 billion yen. The company did not repurchase any shares during the period from November 1, 2023, through November 30, 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 November 1, 2023 through November 30, 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 November 30, 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/20231130929165/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 (TOKYO:6594; OTC US: NJDCY) repurchased 1,171,400 shares for 7,865,806,100 yen from January 25, 2023, through November 30, 2023, out of a total of 5,000,000 shares that may be repurchased under the plan.

What is the total repurchasable amount under Nidec Corporation's ongoing repurchase plan?

The total repurchasable amount under Nidec Corporation's ongoing repurchase plan is 35 billion yen.

What is the percentage of shares that may be repurchased under Nidec Corporation's plan?

Nidec Corporation's plan allows the repurchase of up to 5,000,000 shares, which amounts to 0.87% of the total number of shares issued, excluding treasury stock.

What was the company's own share repurchase amount from November 1, 2023, through November 30, 2023?

Nidec Corporation did not repurchase any shares during the period from November 1, 2023, through November 30, 2023.