Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced that during the repurchase period from March 1 to March 31, 2021, it repurchased 0 shares and allocated 0 yen for this purpose. The company had previously resolved to repurchase up to 4 million shares (0.68% of total issued shares) for a total of 50 billion yen during a period extending from January 26, 2021, to January 25, 2022. No shares have been repurchased to date.

Positive

• The board approved a significant repurchase plan allowing for the potential buyback of up to 4 million shares, indicating confidence in long-term value.
• The total repurchasable amount of 50 billion yen reflects a strong commitment to enhancing shareholder value.

Negative

• The company has yet to repurchase any shares, which may indicate a lack of market confidence or absence of favorable conditions for repurchases.
• No financial outlay for repurchases could be perceived as a missed opportunity to return value to shareholders.

04/01/2021 - 02:30 AM

(Repurchase of own shares, pursuant to the Company’s Articles of Incorporation based on the provisions of Article 459-1-1 of the Company Law of Japan)

KYOTO, April 01, 2021 (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 January 25, 2021, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

Details are as follows:

Details of Share Repurchase 　
1. Period of own share repurchase: From March 1, 2021 through March 31, 2021
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) The following details were resolved by the Company’s Board of Directors on January 25, 2021:
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 4,000,000 shares　
(0.68% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From January 26, 2021 through January 25, 2022

B) Total number and yen amount of own shares repurchased from January 26, 2021 through March 31, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 0
2. Total repurchase amount: 0 yen

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

FAQ

What is the share repurchase plan for Nidec Corporation (symbol NJDCY)?

Nidec Corporation plans to repurchase up to 4 million shares with a total amount of 50 billion yen from January 26, 2021 to January 25, 2022.

How many shares were repurchased by NJDCY in March 2021?

Nidec Corporation repurchased 0 shares during the period from March 1 to March 31, 2021.

What is the total amount spent on share repurchases by NJDCY so far?

As of now, Nidec Corporation has spent 0 yen on share repurchases.

What are the potential impacts of Nidec Corporation's share repurchase plan on its stock price?

The repurchase plan aims to enhance shareholder value and may positively influence stock price if executed successfully.