Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the completion of its share repurchase program. Between August 1 and August 31, 2022, the company repurchased 130,000 shares for a total amount of 1,162,638,200 yen. This is part of a larger plan initiated on April 21, 2022, allowing for the buyback of up to 5,500,000 shares (approximately 0.95% of total shares). Since the plan's inception, a total of 5,200,400 shares have been repurchased for 43,982,798,900 yen.

Positive

• Share repurchase may enhance shareholder value and boost EPS.
• Confidence in the company's future with substantial buyback program.

Negative

• Total repurchase amount of 43,982,798,900 yen could strain cash flow.

(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, Sept. 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 August 1, 2022 through August 31, 2022
2. Class of shares: Common stock
3. Number of own shares repurchased: 130,000
4. Total repurchase amount: 1,162,638,200 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 August 31, 2022, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 5,200,400
2. Total repurchase amount: 43,982,798,900 yen

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

FAQ

What was the total amount Nidec Corporation spent on share repurchases in August 2022?

Nidec Corporation repurchased shares for a total of 1,162,638,200 yen in August 2022.

How many shares did Nidec Corporation repurchase from April 2022 to August 2022?

From April 2022 to August 2022, Nidec Corporation repurchased a total of 5,200,400 shares.

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

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

What period did Nidec Corporation's latest share repurchase occur?

Nidec Corporation's latest share repurchase occurred from August 1 to August 31, 2022.

How does Nidec Corporation's share repurchase program impact stock price?

The share repurchase program may positively impact Nidec Corporation's stock price by reducing the number of shares outstanding, thus potentially enhancing EPS.