Welcome to our dedicated page for Nidec news (Ticker: NJDCY), a resource for investors and traders seeking the latest updates and insights on Nidec stock.
Nidec Corporation reports governance, financial reporting and shareholder-related developments for its operating company and U.S. OTC ADR ticker, NJDCY. Recent company updates have centered on an improvement plan and status reports submitted to the Tokyo Stock Exchange, third-party and internal investigations into improper accounting, and corrective measures for the company’s internal management system.
News also addresses postponed financial-result disclosures, corrections to prior financial statements, board and nomination committee processes, shareholder requests involving director liability and related remedies, dividend determinations, and culture-transformation initiatives within the Nidec Group.
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.
Nidec Corporation (TSE: 6594; OTC US: NJDCY) plans to issue €500 million in senior unsecured Euro-denominated Green Bonds to fund electric vehicle (EV) traction motors. This marks the first euro-denominated bond issuance by a Japanese company. The proceeds will support capital expenditures and R&D expenses associated with the production of EV traction motors, contributing to decarbonization efforts in the automotive industry. The bonds will be offered to institutional investors and aimed at diversifying financing methods.
Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced that from February 1 to February 28, 2021, it repurchased 0 shares under its ongoing buyback program.
The Board had previously authorized a plan on January 25, 2021, allowing for repurchases of up to 4 million shares (0.68% of total shares) for a maximum of 50 billion yen from January 26, 2021, to January 25, 2022. As it stands, no shares have been repurchased during the specified period, indicating no current financial outflow related to this program.
Nidec Corporation (OTC: NJDCY) announced the acquisition of Mitsubishi Heavy Industries Machine Tool Co., Ltd., including shares of three overseas subsidiaries and the machine tool business of nine overseas subsidiaries. This strategic move aims to enhance Nidec's capabilities in manufacturing E-Axle, a crucial component for electric vehicles. The acquisition is projected to strengthen Nidec's market position without impacting financial performance for the current or next fiscal year. The deal was finalized on February 5, 2021, with completion expected by May 2021, subject to regulatory approvals.
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.