Nidec Announces the Status of Own Share Repurchase

Nidec Corporation (Tokyo: 6594; OTC US: NJDCY) announced the completion of its share repurchase plan as per the Board of Directors' resolution on January 24, 2023.

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04/03/2023 - 02:30 AM

(Repurchase of own shares, pursuant to the Company’s Articles of Incorporation based on the provisions of Item 1 of Article 459 (1) of the Companies Act of Japan)

KYOTO, Japan--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company”) today announced the status of the Company’s own share repurchase under its ongoing repurchase plan resolved at a meeting of the Board of Directors held on January 24, 2023, pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan.

Details of Share Repurchase

Period of own share repurchase: From March 1, 2023 through March 31, 2023
Class of shares: Common stock
Number of own shares repurchased: 290,000
Total repurchase amount: 1,853,416,800 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 24, 2023:

Class of shares: Common stock
Total number of shares that may be repurchased: Up to 5,000,000 shares
(0.87% of total number of shares issued, excluding treasury stock)
Total repurchasable amount: 35 billion yen
Period of repurchase: From January 25, 2023 through January 24, 2024

B) Total number and yen amount of own shares repurchased from January 25, 2023 through March 31, 2023, pursuant to the Board of Directors resolution above:

Total number of own shares repurchased: 1,020,000
Total repurchase amount: 6,882,558,300 yen