Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the completion of a share repurchase program, as authorized by its Board of Directors on April 21, 2022. During June 2022, the company repurchased 1,700,000 shares at a total cost of 14,355,639,400 yen. This buyback is part of a broader plan allowing for the repurchase of up to 5,500,000 shares (approximately 0.95% of total shares), with a maximum expenditure of 50 billion yen through January 2023. To date, Nidec has repurchased a total of 4,100,000 shares for 34,354,277,600 yen.

Positive

• Share repurchase of 1,700,000 shares indicates strong confidence in shareholder value.
• Total repurchases to date have reached 4,100,000 shares, reinforcing commitment to the buyback plan.

Negative

• None.

(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, July 01, 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 April 21, 2022, 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 June 1, 2022 through June 30, 2022
2. Class of shares: Common stock
3. Number of own shares repurchased: 1,700,000
4. Total repurchase amount: 14,355,639,400 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 April 21, 2022:
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 5,500,000 shares　
(0.95% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From April 22, 2022 through January 24, 2023

B) Total number and yen amount of own shares repurchased from April 22, 2022 through June 30, 2022, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 4,100,000
2. Total repurchase amount: 34,354,277,600 yen

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

FAQ

What is the total amount spent on share repurchases by Nidec Corporation as of June 30, 2022?

As of June 30, 2022, Nidec Corporation has spent a total of 34,354,277,600 yen on share repurchases.

How many shares has Nidec repurchased under its buyback plan?

Nidec has repurchased a total of 4,100,000 shares under its buyback plan.

What is the maximum number of shares Nidec Corporation plans to repurchase?

Nidec Corporation plans to repurchase up to 5,500,000 shares as part of its buyback program.

When did Nidec Corporation's share repurchase period originally start?

The share repurchase period originally started on April 22, 2022.