Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation, listed on TSE as 6594 and OTC US as NJDCY, reported no share repurchases during December 2021. The company had a buyback plan initiated on January 25, 2021, allowing for the repurchase of up to 4 million shares, totaling 50 billion yen. As of December 31, 2021, the company repurchased 1,209,800 shares for approximately 14.24 billion yen. The buyback is part of a strategy to enhance shareholder value, although it remains to be seen how future repurchase plans will continue.

Positive

• The company repurchased 1,209,800 shares for 14.24 billion yen, indicating a commitment to enhance shareholder value.
• The ongoing buyback plan allows for future repurchases of up to 4 million shares, which could positively impact EPS.

Negative

• No shares were repurchased during December 2021, which may signal reduced confidence in current market conditions.
• The company has not utilized the entire buyback amount, reflecting potential missed opportunities to increase shareholder returns.

(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, Jan. 05, 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 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 December 1, 2021 through December 31, 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 December 31, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 1,209,800
2. Total repurchase amount: 14,237,053,000 yen

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

FAQ

What is the status of Nidec Corporation's share repurchase plan as of December 2021?

As of December 2021, Nidec Corporation reported no shares were repurchased, despite having a buyback plan allowing for up to 4 million shares.

How many shares has Nidec Corporation repurchased since the buyback plan began?

Since the buyback plan began on January 26, 2021, Nidec Corporation has repurchased a total of 1,209,800 shares.

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

The total amount allocated for Nidec Corporation's share repurchase plan is 50 billion yen.

How does Nidec Corporation's buyback affect its stock price?

Share buybacks can potentially increase stock prices by reducing the number of shares outstanding, thereby increasing earnings per share (EPS).