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 successfully completed a share repurchase plan, having repurchased 3,100,000 common shares from February 1 to February 16, 2022, totaling 31.41 billion yen. This move is part of a broader plan authorized on January 26, 2022, which allows for the repurchase of up to 4,000,000 shares over a year, with a total budget of 50 billion yen. The repurchase aims to enhance shareholder value and reflects the company’s strong financial position.

Positive

• Completed share repurchase of 3,100,000 shares, enhancing shareholder value.
• Total repurchase authority allows up to 4,000,000 shares, indicating confidence in financial health.
• Total repurchase budget of 50 billion yen shows strong commitment to shareholders.

Negative

• None.

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

KYOTO, Japan, Feb. 18, 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 January 26, 2022 has been completed.

Details of Share Repurchase

1. Period of share repurchase: From February 1, 2022 through February 16, 2022
2. Class of shares: Common stock
3. Number of shares repurchased: 3,100,000 shares
4. Total repurchase amount: 31,412,114,100 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 January 26, 2022

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 27, 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: 4,000,000 shares
2. Total repurchase amount: 40,257,054,900 yen

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

 

FAQ

What is the total amount Nidec Corporation repurchased in shares during February 2022?

Nidec Corporation repurchased a total of 31.41 billion yen in shares from February 1 to February 16, 2022.

How many total shares can Nidec Corporation repurchase under its plan authorized on January 26, 2022?

Nidec Corporation is authorized to repurchase up to 4,000,000 shares under its plan.

What is the purpose of Nidec Corporation's share repurchase plan?

The purpose of the share repurchase plan is to enhance shareholder value.

What is the period for Nidec Corporation's share repurchase plan?

The share repurchase plan is set to run from January 27, 2022, to January 24, 2023.