Nidec Announces the Status of Own Share Repurchase

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its share repurchase status on September 1, 2021. The company reported that from August 1 to August 31, 2021, it repurchased 0 shares for a total amount of 0 yen, under a buyback program initiated on January 25, 2021. Since the start of the program, a total of 404,800 shares have been repurchased for approximately 4.82 billion yen. The buyback program allows for the repurchase of up to 4 million shares until January 25, 2022.

Positive

• Total shares repurchased so far: 404,800
• Total amount spent on repurchases: 4.82 billion yen
• Continued commitment to share buyback program enhances shareholder value

Negative

• No shares were repurchased in August 2021, raising concerns over the effectiveness of the buyback plan.

(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, Sept. 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 August 1, 2021 through August 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 August 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 was the status of Nidec's share repurchase as of September 1, 2021?

As of September 1, 2021, Nidec reported no shares were repurchased in August 2021.

How many shares has Nidec repurchased since the buyback program began?

Since the buyback program began, Nidec has repurchased a total of 404,800 shares.

What is the total amount used for share repurchases by Nidec?

Nidec has spent approximately 4.82 billion yen on share repurchases since the program began.

When does Nidec's share repurchase program end?

Nidec's share repurchase program is set to end on January 25, 2022.

What is the maximum number of shares Nidec can repurchase under the program?

Nidec can repurchase up to 4 million shares under the buyback program.