Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation announces the status of its own share repurchase plan, with 0 shares repurchased and 0 yen spent in the period from August 1, 2023 through August 31, 2023.

Positive

• None

Negative

• No shares repurchased or amount spent in the given period.

(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 (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 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 August 1, 2023 through August 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 August 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/20230831009445/en/

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation