Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (NJDCY) announces the repurchase of own shares under its ongoing plan. The company will repurchase up to 2,000,000 common shares with a total repurchasable amount of 11 billion yen from January 25, 2024, through 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 February 1, 2024 through February 29, 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 February 29, 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/20240229107009/en/

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What is the purpose of Nidec Corporation's share repurchase plan?

Nidec Corporation's share repurchase plan aims to repurchase up to 2,000,000 common shares with a total repurchasable amount of 11 billion yen.

When is the period for Nidec Corporation's own share repurchase?

The period for Nidec Corporation's own share repurchase is from January 25, 2024, through May 24, 2024.

How many own shares has Nidec Corporation repurchased from January 25, 2024, through February 29, 2024?

Nidec Corporation has repurchased 0 own shares with a total repurchase amount of 0 yen during this period.