Nidec Corp - NJDCY STOCK NEWS

Nidec Corporation (NJDCY) announced plans to establish a joint venture (JV) with Hon Hai Technology Group and Foxtron Vehicle Technologies. This JV aims to ensure a stable supply of traction motors and expand market opportunities for Nidec. Following a memorandum of understanding signed in March 2021, feasibility studies and contract negotiations will continue, targeting a JV agreement by the end of December 2021. The JV, based in Taiwan, will focus on developing and producing traction motor systems, supporting Nidec's goal of producing 10 million units by 2030.

Nidec Corporation reported strong consolidated results for the three months ending June 30, 2021, with net sales reaching a record ¥447.5 billion, up 32.8% year-over-year. Operating profit surged 60.3% to ¥44.6 billion, resulting in a 10.0% operating profit ratio. Profit attributable to owners rose 66.8% to ¥33.5 billion, with EPS standing at ¥57.14. The results reflect successful implementation of the WPR4 program and a recovery in sales, maintaining a double-digit operating profit ratio for four consecutive quarters.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced the status of its share repurchase plan resolved on January 25, 2021. For the period from June 1 to June 30, 2021, the company reported a total of 0 shares repurchased with a total repurchase amount of 0 yen. From January 26, 2021, to June 30, 2021, Nidec repurchased 404,800 shares for 4.82 billion yen. The total allowable repurchase is up to 4 million shares (0.68% of issued shares) with a budget of 50 billion yen until January 25, 2022.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) has announced the repurchase of 404,800 shares, totaling approximately 4.82 billion yen, under its ongoing share buyback program. The repurchase occurred from May 1 to May 31, 2021. The company has a broader plan allowing for the repurchase of up to 4 million shares (0.68% of total shares issued) by January 25, 2022, with a total budget of 50 billion yen allocated for this initiative. This buyback is part of the company's strategy to enhance shareholder value and reflects confidence in its future performance.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) reported no share repurchases between April 1, 2021, and April 30, 2021, under its ongoing buyback plan. The buyback plan, approved on January 25, 2021, allows for the repurchase of up to 4 million shares, representing 0.68% of total shares issued, with a total repurchasable amount of 50 billion yen. However, as of the end of April 2021, the company has not executed any repurchases, with the total number and value of shares repurchased being 0.

Nidec Corporation (TSE: 6594, OTC US: NJDCY) reported its financial results for the fiscal year ended March 31, 2021. Net sales reached a record high of ¥1,618.1 billion, reflecting a 5.4% year-over-year increase. Operating profit surged 47.4% to ¥160.0 billion, with a quarterly operating profit ratio of 10.3%. Profit attributable to owners rose 108.7% to ¥122.0 billion, translating to an EPS of ¥208.25. This financial performance underscores Nidec's robust recovery, driven by operational efficiencies achieved through the WPR4 program.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its plans to establish new factories in Novi Sad, Serbia. This initiative includes a launch event attended by significant officials, marking the company's entry into the Serbian market. The factories aim to support the growing demand for automotive motors and high-efficiency products in Europe. Nidec has already opened a business office and formed a strategic alliance with the University of Novi Sad for research and technological exchanges. The new facilities are expected to employ approximately 1,200 people and commence operations in mid-2022.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced that during the repurchase period from March 1 to March 31, 2021, it repurchased 0 shares and allocated 0 yen for this purpose. The company had previously resolved to repurchase up to 4 million shares (0.68% of total issued shares) for a total of 50 billion yen during a period extending from January 26, 2021, to January 25, 2022. No shares have been repurchased to date.