Nidec Board Authorizes Share Repurchase Plan

Rhea-AI Summary

Nidec Corporation has announced a share repurchase plan, approved by its Board of Directors on April 21, 2022. The plan allows for the repurchase of up to 5.5 million shares, equating to 0.95% of the total shares issued. The repurchase is valued at 50 billion yen and will be executed from April 22, 2022 to January 24, 2023. This initiative aims to enhance capital management amid a fluctuating business environment.

Positive

• Implementation of a share repurchase plan enhances shareholder value.
• Repurchase represents 0.95% of total shares, indicating confidence in the company's stock.

Negative

• None.

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

KYOTO, Japan, April 21, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on April 21, 2022, whereby the Company may repurchase up to 5.5 million shares in accordance with the Articles of Incorporation pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan.

Reason for Share Repurchase
This authorization is intended to enable agile capital management highly responsive to the changing
business environment.

Details of Authorized Share Repurchase Plan
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

Reference
Total number of shares issued and outstanding shares held in treasury as of March 31, 2022:
• Total number of shares issued (excluding shares held in treasury): 580,261,434 shares
• Shares held in treasury: 16,023,034 shares

Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements regarding the Company’s current intent, plans, expectations and estimates. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, available funds, future alternative uses for cash, future competing investment opportunities, and general economic, business and market conditions. The Company assumes no obligation to, and does not currently intend to, update these forward-looking statements, except as required by law.

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

FAQ

What is the total number of shares Nidec Corporation plans to repurchase?

Nidec Corporation plans to repurchase up to 5.5 million shares.

What is the duration of the share repurchase plan for NJDCY?

The share repurchase plan is set to run from April 22, 2022, to January 24, 2023.

How much is Nidec Corporation allocating for the share buyback?

The total repurchasable amount is 50 billion yen.

What percentage of total shares issued will the repurchase represent for NJDCY?

The repurchase will represent 0.95% of the total shares issued.

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

The purpose is to enable agile capital management responsive to the changing business environment.