Nidec Corp Stock Price, News & Analysis

Nidec Corporation (TSE: 6594) (OTC US: NJDCY) responded to Toyo Keizai Online’s recent article raising doubts about its treasury stock acquisition. The company asserts that these claims stem from misunderstandings and are defamatory. Following communication from Toyo Keizai on October 20, 2022, Nidec emphasized that the publication's report did not consider its response. In light of the repeated allegations, Nidec is preparing to pursue legal action against Toyo Keizai to defend its reputation. The company will provide updates as necessary.

Nidec Corporation (OTC US: NJDCY) has responded to an article published on October 7, 2022, by Toyo Keizai Online, which alleged inappropriate processing in its treasury stock acquisition. Nidec asserts that these claims are unfounded and maintains full compliance with relevant laws and regulations. The company is also considering legal action against the media outlet for its misleading statements.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) has completed a significant share repurchase program.

From September 1 to September 7, 2022, the company repurchased 299,600 shares for a total of 2.69 billion yen, part of a larger plan authorized on April 21, 2022, allowing up to 5.5 million shares to be repurchased for a maximum of 50 billion yen. Overall, 5.5 million shares have been repurchased for 46.67 billion yen under this initiative, signaling strong confidence in shareholder value and financial stability.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the completion of its share repurchase program. Between August 1 and August 31, 2022, the company repurchased 130,000 shares for a total amount of 1,162,638,200 yen. This is part of a larger plan initiated on April 21, 2022, allowing for the buyback of up to 5,500,000 shares (approximately 0.95% of total shares). Since the plan's inception, a total of 5,200,400 shares have been repurchased for 43,982,798,900 yen.

Nidec Corporation has signed a joint venture agreement with FREYR BATTERY SA to manufacture eco-friendly semi-solid lithium-ion batteries. This partnership aims to enhance Nidec’s Battery Energy Storage Solutions (BESS) while supporting renewable energy adoption. FREYR will utilize 100% renewable hydroelectric power for battery production, targeting a significant capacity increase by 2030. Nidec holds a 66.7% stake in the joint venture, expected to be established in late 2022. While this agreement enhances Nidec's strategic position in the BESS market, it will not significantly impact financial performance for FY 2023.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its share repurchase status on August 1, 2022. The company repurchased 970,400 shares totaling 8,465,883,100 yen during July 2022, as part of its ongoing plan authorized on April 21, 2022. By July 31, 2022, a total of 5,070,400 shares had been repurchased for 42,820,160,700 yen, out of a maximum of 5,500,000 shares allowable under the plan. This initiative reflects confidence in enhancing shareholder value.

Nidec Corporation (TSE: 6594, OTC US: NJDCY) reported strong financial results for the quarter ended June 30, 2022. Net sales surged by 20.8% year-over-year to reach ¥540.4 billion, achieving a record quarterly high. Operating profit saw a modest increase of 0.2% to ¥44.7 billion. However, profit before income taxes rose significantly by 30.3% to ¥57.0 billion, and profit attributable to owners increased 23.5% to ¥41.3 billion. Earnings per share were reported at ¥71.50, marking a notable growth compared to the previous year.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the completion of a share repurchase program, as authorized by its Board of Directors on April 21, 2022. During June 2022, the company repurchased 1,700,000 shares at a total cost of 14,355,639,400 yen. This buyback is part of a broader plan allowing for the repurchase of up to 5,500,000 shares (approximately 0.95% of total shares), with a maximum expenditure of 50 billion yen through January 2023. To date, Nidec has repurchased a total of 4,100,000 shares for 34,354,277,600 yen.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its commitment to set new climate targets in alignment with the Science Based Targets initiative (SBTi). This goal is part of its strategy to achieve carbon neutrality by FY2040. The company emphasized its responsibility in fostering sustainable practices and will work on making its operations carbon neutral by focusing on energy savings, transitioning to renewable energy, and low carbon fuels. Additionally, Nidec plans to align its corporate reporting with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).