Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) Announces Repurchase of Own Shares in Accordance with the Companies Act of Japan. The company has provided details on the repurchase plan, including the period, class of shares, and the total number of shares that may be repurchased. The total number and amount of own shares repurchased so far have also been disclosed.

(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 July 1, 2023 through July 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 July 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/20230731633632/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 under its ongoing repurchase plan resolved at a meeting of the Board of Directors.

What are the details of the share repurchase plan authorized by the Board of Directors?

The details include the class of shares, the total number of shares that may be repurchased, the total repurchasable amount, and the period of repurchase.

How many own shares has Nidec Corporation repurchased so far?

Nidec Corporation has repurchased 1,171,400 own shares, totaling 7,865,806,100 yen from January 25, 2023, through July 31, 2023.