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

Rhea-AI Summary

Nidec Corporation has concluded its share repurchase program authorized on January 25, 2021, with a total repurchase of 1,479,800 shares for 17.2 billion yen by January 25, 2022. The last repurchase period lasted from January 1 to January 25, 2022, during which 270,000 shares were acquired for 2.98 billion yen. While the total buyback amount fell short of the 50 billion yen limit set forth in the initial plan, the company aimed to optimize its capital strategy against market conditions. This buyback reflects the company's commitment to enhancing shareholder value.

Positive

• Share repurchase program concluded successfully with a total of 1,479,800 shares bought back.
• Repurchase aimed to enhance shareholder value through strategic capital management.

Negative

• Total repurchase amount of 17.2 billion yen did not reach the 50 billion yen limit set by the initial plan.
• Only 270,000 shares repurchased in the final period, indicating potential missed opportunities.

(Repurchases of Shares Pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan)

KYOTO, Japan, Jan. 26, 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 Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

The Company’s share repurchase plan authorized by the Board of Directors on January 25, 2021 has been concluded as of January 25, 2022. During the repurchase period, the Company executed the repurchases agilely considering the situations such as the trend of its share price and the execution of its capital strategy. Consequently, neither the number nor yen amount of the shares repurchased reached the predetermined upper limits.

Details of Share Repurchase

1. Period of share repurchase: From January 1, 2022 through January 25, 2022
2. Class of shares: Common stock
3. Number of shares repurchased: 270,000 shares
4. Total repurchase amount: 2,977,125,000 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 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 shares repurchased from January 26, 2021 through January 25, 2022, pursuant to the authorization of the Board of Directors described above:

1. Total number of shares repurchased: 1,479,800 shares
2. Total repurchase amount: 17,214,178,000 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 under the share buyback plan?

Nidec Corporation repurchased a total of 17.2 billion yen worth of shares under the plan.

How many shares did Nidec Corporation buy back during the last repurchase period?

During the last repurchase period from January 1 to January 25, 2022, Nidec Corporation repurchased 270,000 shares.

What was the purpose of Nidec Corporation's share repurchase program?

The purpose of the share repurchase program was to enhance shareholder value and optimize capital management.

Did Nidec Corporation reach its share repurchase target?

No, Nidec Corporation did not reach its target of 50 billion yen in total buybacks during the program.

What is the stock symbol for Nidec Corporation in the OTC market?

The stock symbol for Nidec Corporation in the OTC market is NJDCY.