Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its share repurchase status on August 2, 2021. The repurchase period ran from July 1 to July 31, 2021, during which no shares were repurchased, totaling 0 yen. Previously, on January 25, 2021, the Board resolved to allow repurchases of up to 4 million shares or 50 billion yen, starting from January 26, 2021, to January 25, 2022. As of July 31, 2021, Nidec repurchased 404,800 shares for approximately 4.82 billion yen.

Positive

• Total repurchase amount of 4.82 billion yen demonstrates a commitment to returning value to shareholders.
• Board resolution allows for potential future share repurchases, indicating confidence in enhancing shareholder value.

Negative

• No shares were repurchased during the specified period, potentially signaling lack of market confidence.

(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, Japan, Aug. 02, 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 July 1, 2021 through July 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 July 31, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 404,800
2. Total repurchase amount: 4,824,927,000 yen

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

 

FAQ

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

Nidec's Board authorized a total repurchasable amount of 50 billion yen.

How many shares did Nidec repurchase from January 26 to July 31, 2021?

Nidec repurchased a total of 404,800 shares during that period.

What was the period for Nidec's latest share repurchase plan?

The recent share repurchase plan was active from July 1 to July 31, 2021.

What percentage of total shares can Nidec repurchase under the plan?

Nidec can repurchase up to 0.68% of total shares issued, excluding treasury stock.