Nidec Announces the Status of Share Repurchases and the Completion of the Share Repurchase Plan

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) has completed a significant share repurchase program.

From September 1 to September 7, 2022, the company repurchased 299,600 shares for a total of 2.69 billion yen, part of a larger plan authorized on April 21, 2022, allowing up to 5.5 million shares to be repurchased for a maximum of 50 billion yen. Overall, 5.5 million shares have been repurchased for 46.67 billion yen under this initiative, signaling strong confidence in shareholder value and financial stability.

Positive

• Completion of share repurchase enhances shareholder value.
• Repurchase of 5.5 million shares indicates strong company confidence.
• Total repurchase amount of 46.67 billion yen improves EPS prospects.

Negative

• None.

(Repurchases of Shares Pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan)

KYOTO, Japan, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the ”Company”) today announces the status of the Company’s share repurchases under its repurchase plan in accordance with the Articles of Incorporation pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan.

The Company also announces that the Company’s share repurchase plan authorized by the Board of Directors on April 21, 2022, has been completed.

Details of Share Repurchase

1. Period of share repurchase: From September 1, 2022 through September 7, 2022
2. Class of shares: Common stock
3. Number of shares repurchased: 299,600 shares
4. Total repurchase amount: 2,689,638,000 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 shares repurchased, pursuant to the authorization of the Board of Directors described above:

1. Total number of shares repurchased: 5,500,000 shares
2. Total repurchase amount: 46,672,436,900 yen 

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

FAQ

What was the total amount repurchased by Nidec Corporation (NJDCY) in September 2022?

Nidec Corporation repurchased a total amount of 2.69 billion yen in September 2022.

How many shares did Nidec Corporation buy back in its recent share repurchase?

Nidec Corporation repurchased 299,600 shares between September 1 and September 7, 2022.

What is the total number of shares Nidec Corporation can repurchase under its plan?

Nidec Corporation's share repurchase plan allows for the repurchase of up to 5.5 million shares.

When did Nidec Corporation's share repurchase plan begin?

Nidec Corporation's share repurchase plan began on April 22, 2022.

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

The total repurchase amount authorized for Nidec Corporation's buyback plan is 50 billion yen.