Nidec Corp - NJDCY STOCK NEWS

Nidec (TOKYO: 6594; OTC US: NJDCY) has announced the status of its own share repurchase program, approved by the Board of Directors on May 24, 2024. The repurchase plan allows for up to 5,000,000 common shares (0.87% of total shares issued, excluding treasury stock) to be bought back, with a total repurchasable amount of 35 billion yen. The repurchase period runs from May 27, 2024, through May 26, 2025.

However, for the period from August 1, 2024, through August 30, 2024, Nidec reported that no shares were repurchased, and the total repurchase amount remained at 0 yen. This update is part of the company's ongoing commitment to transparency in its share repurchase activities.

Nidec (TOKYO: 6594; OTC US: NJDCY) has won a defamation lawsuit against Toyo Keizai Inc. and related individuals. The Tokyo District Court ruled in favor of Nidec, stating that Toyo Keizai's reporting on alleged insider trading by Nidec was false and insufficiently researched. The court ordered Toyo Keizai to pay damages and remove the defamatory article. This ruling confirms that Nidec properly acquired treasury stock in compliance with applicable laws and regulations, clearing the company of insider trading suspicions. Nidec reaffirms its commitment to conducting business activities in accordance with legal and regulatory requirements.

Nidec (TOKYO: 6594; OTC US: NJDCY) has announced the status of its ongoing share repurchase program. The program, authorized by the Board of Directors on May 24, 2024, allows for the repurchase of up to 5,000,000 common shares (0.87% of total shares issued, excluding treasury stock) for a total amount of up to 35 billion yen. The repurchase period is set from May 27, 2024 through May 26, 2025.

For the period from July 1, 2024 through July 31, 2024, Nidec reported that no shares were repurchased. Similarly, from the program's start on May 27, 2024, through July 31, 2024, no shares have been repurchased, and the total repurchase amount remains at 0 yen.

Nidec (TOKYO: 6594) (OTC US: NJDCY) reported record-high consolidated net sales and operating profit for Q1 FY2024 ended June 30, 2024. Net sales increased 14.8% to ¥648,166 million, while operating profit slightly rose 0.1% to ¥60,259 million. The company's operating profit was boosted by a shift to a highly profitable business portfolio in Small Precision Motors and gains from consolidating Nidec PSA eMotors SAS. However, profit attributable to owners decreased 12.5% to ¥56,044 million. Nidec has revised its FY2024 full-year and first-half forecasts upward. The company also announced a 2-for-1 stock split effective October 1, 2024.

Nidec (NJDCY) has announced the disposal of 381,600 shares of treasury stock through third-party allotment, valued at 6,812 yen per share, totaling 2,599,459,200 yen. The disposal is part of the continuation of the company's Performance Share Plan for directors and executives until 2027.

The plan includes two trusts:

• Board Incentive Plan (BIP) Trust for directors and executives
• Employee Stock Ownership Plan (ESOP) Trust for executives in Japan and overseas

The shares will be allotted to The Master Trust Bank of Japan, as co-trustee. The disposal aims to provide incentives to directors and executives, with shares to be delivered based on performance and position. The dilution effect is expected to be minimal at 0.06% of total outstanding shares.

Nidec (TSE: 6594, OTC US: NJDCY) has signed a memorandum of understanding (MOU) with Tata Elxsi , a Tata Group company specializing in design and technology services. The partnership aims to leverage Tata Elxsi's expertise to enhance Nidec's software development capabilities, particularly in the automotive sector. This collaboration will focus on developing software for Indian and other markets, localizing Nidec products, and establishing a global software development base for the Nidec Group.

Tata Elxsi brings valuable experience in autonomous driving, electrification, and connected car solutions. With over 13,000 engineers and specialists worldwide, Tata Elxsi is well-positioned to support Nidec's expansion in software-defined vehicles (SDV) and other technological advancements.

Nidec (TOKYO: 6594; OTC US: NJDCY) has announced an upward revision to its consolidated financial forecasts for the fiscal year ending March 31, 2025. The company has increased its projections for net sales, operating profit, and profit attributable to owners for both the first half and full fiscal year.

Key factors driving this revision include:

• Recovery in HDD motor demand and rapid expansion in water-cooling systems for AI servers
• Strategic shift in the automotive business to prioritize profitability
• Rapid demand growth for power generators and Battery Energy Storage Systems
• Foreign exchange gain of ¥15.0 billion due to a weaker yen

Nidec's revised full-year forecast now projects net sales of ¥2,500,000 million (up 4.2%) and profit attributable to owners of ¥185,000 million (up 12.1%) compared to previous estimates.

Nidec (TOKYO: 6594; OTC US: NJDCY) has executed a memorandum of understanding (MOU) with Tata Elxsi , an Indian design and technology service provider, on July 22, 2024. The collaboration aims to enhance Nidec's software development capabilities by leveraging Tata Elxsi's expertise in autonomous driving, electrification, and connected car solutions.

The partnership will focus on developing software programs for India and other markets, localizing Nidec products, and establishing a global business base for Nidec's software development. This strategic move aligns with Nidec's commitment to providing comprehensive drive technology solutions across its diverse product lineup.

Tata Elxsi, part of the Tata group, brings extensive experience in automotive and transportation R&D, with a global network of over 13,000 engineers and specialists. Nidec, as a leading comprehensive motor manufacturer, aims to utilize this collaboration to accelerate its growth and innovation in the rapidly evolving automotive and technology sectors.

Nidec (TOKYO:6594; OTC US:NJDCY) has announced a 2-for-1 stock split effective October 1, 2024, aimed at enhancing stock liquidity and expanding its investor base. The split will increase total issued shares from 596,284,468 to 1,192,568,936. In conjunction, Nidec is modifying its share repurchase program, doubling the maximum number of shares to be repurchased from 5,000,000 to 10,000,000, while maintaining the total repurchasable amount at 35 billion yen.

The company has also revised its dividend projection for FY2025 to align with the stock split. The year-end dividend will be adjusted from 40 yen to 20 yen per share, maintaining the effective payout. The second quarter dividend of 40 yen remains unchanged as it precedes the split.