Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec announces the repurchase of own shares under an ongoing plan, with details of the repurchase period, class of shares, and total repurchase amount. The company aims to repurchase up to 2,000,000 shares, totaling 11 billion yen, from January 25, 2024, to May 24, 2024.

(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, 2024, 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 March 1, 2024 through March 31, 2024
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, 2024:

1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 2,000,000 shares
   (0.34% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 11 billion yen
4. Period of repurchase: From January 25, 2024 through May 24, 2024

B) Total number and yen amount of own shares repurchased from January 25, 2024 through March 31, 2024, pursuant to the Board of Directors resolution above:

1. Total number of own shares repurchased: 0
2. Total repurchase amount: 0 yen

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240331173067/en/

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What is the purpose of Nidec 's share repurchase announcement?

Nidec announced the repurchase of its own shares under an ongoing plan.

When is the period for Nidec 's share repurchase?

The period for the share repurchase is from March 1, 2024, through March 31, 2024.

How many shares does Nidec plan to repurchase?

Nidec aims to repurchase up to 2,000,000 shares.

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

The total repurchasable amount is 11 billion yen.

Who is the General Manager of Investor Relations at Nidec ?

Teruaki Urago is the General Manager of Investor Relations at Nidec