Nidec Announces the Status of Own Share Repurchase

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the status of its share repurchase plan on February 1, 2021.

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the status of its share repurchase plan on February 1, 2021. The plan, originally resolved on January 25, 2021, allows for repurchasing up to 4 million shares (0.68% of total shares issued) with a total repurchasable amount of 50 billion yen. However, from January 26 to January 31, 2021, the company did not repurchase any shares, recording a total repurchase amount of 0 yen. The repurchase period extends until January 25, 2022.

Positive

• Share repurchase plan allows for up to 4 million shares, supporting potential shareholder value.
• Total repurchasable amount of 50 billion yen indicates strong financial backing for future buybacks.

Negative

• No shares were repurchased from January 26 to January 31, 2021, indicating lack of market intervention.
• Zero yen spent on repurchases may signal limited confidence or demand in current stock prices.

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

KYOTO, Japan, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 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 25, 2021, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

Details are as follows:

Details of Share Repurchase 　
1. Period of own share repurchase: From January 26, 2021 through January 31, 2021
2. Class of shares: Common stock
3. Number of own shares repurchased: 0
4. Total repurchase amount: 0 yen

Note: The above repurchase information has been prepared on the basis of trade date.

Reference
A) The following details were resolved by the Company’s 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 own shares repurchased from January 26, 2021 through January 31, 2021, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 0
2. Total repurchase amount: 0 yen              

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the status of Nidec's share repurchase plan as of February 2021?

Nidec has not repurchased any shares between January 26 and January 31, 2021, despite having a plan to buy up to 4 million shares.

How much is Nidec's total repurchasable amount under its share buyback plan?

The total repurchasable amount is 50 billion yen as resolved in the Board meeting on January 25, 2021.

When is the duration of Nidec's share repurchase plan?

The share repurchase plan is valid from January 26, 2021, through January 25, 2022.

What percentage of total shares can Nidec repurchase under their plan?

Nidec can repurchase up to 0.68% of its total issued shares.