Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation has reported its completed share repurchase program from May 1 to May 31, 2022. The company repurchased 1,900,000 shares for a total of 15.76 billion yen, part of a broader plan approved in April 2022 to acquire up to 5.5 million shares with a total budget of 50 billion yen. This action underscores Nidec's commitment to enhancing shareholder value and reflects confidence in its ongoing business strategy.

Positive

• Share repurchase totaling 1,900,000 shares reinforcing shareholder value.
• Total repurchase amount of 15.76 billion yen demonstrates financial strength.

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, June 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 May 1, 2022 through May 31, 2022
2. Class of shares: Common stock
3. Number of own shares repurchased: 1,900,000
4. Total repurchase amount: 15,756,992,800 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 May 31, 2022, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 2,400,000
2. Total repurchase amount: 19,998,638,200 yen 

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

FAQ

What is the total amount Nidec Corporation spent on its recent share repurchase?

Nidec Corporation spent a total of 15.76 billion yen on its recent share repurchase.

When did Nidec Corporation conduct its share repurchase?

Nidec Corporation conducted its share repurchase from May 1 to May 31, 2022.

How many shares has Nidec Corporation repurchased in total since April 2022?

Since April 2022, Nidec Corporation has repurchased a total of 2,400,000 shares.

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

Nidec Corporation plans to repurchase up to 5.5 million shares under its ongoing plan.