Nidec Board Authorizes Share Repurchase Plan

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced a new share repurchase plan on January 26, 2022. The company authorized the repurchase of up to 4 million shares, representing 0.68% of total shares issued, with a maximum repurchase amount of 50 billion yen. This initiative aims to enhance capital management in response to changing business conditions. The repurchase period extends from January 27, 2022 to January 24, 2023.

Positive

• Share repurchase plan boosts shareholder value.
• Repurchase amount of 50 billion yen may enhance EPS.
• Demonstrates management's confidence in company's future.

Negative

• None.

(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”) announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on January 26, 2022, whereby the Company may repurchase up to four million shares in accordance with the Article of Incorporation pursuant to Article 459, Paragraph 1, Item 1 of the Company Law 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 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

Reference
Total number of shares issued and outstanding shares held in treasury as of December 31, 2021:
• Total number of shares issued (excluding shares held in treasury): 584,531,862 shares
• Shares held in treasury: 11,752,606 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 Nidec Corporation's share repurchase plan, NJDCY?

Nidec Corporation plans to repurchase up to 4 million shares, totaling 50 billion yen, to improve capital management.

When does Nidec's share repurchase plan begin and end?

The share repurchase plan runs from January 27, 2022, to January 24, 2023.

How much of Nidec's shares will be repurchased under the NJDCY plan?

The company will repurchase up to 4 million shares, equating to 0.68% of total shares issued.

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

The plan aims to enable agile capital management responsive to the evolving business environment.

What impact might the share repurchase have on NJDCY stock price?

The share repurchase may enhance shareholder value and potentially influence the stock price positively.