Nidec Corp Stock Price, News & Analysis

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. The repurchase period ran from March 1, 2023, to March 31, 2023, during which 290,000 shares were repurchased for a total amount of 1,853,416,800 yen. Since the initiation of the plan, a cumulative total of 1,020,000 shares have been repurchased, amounting to 6,882,558,300 yen. The total authorized repurchase limit is 35 billion yen, allowing for up to 5,000,000 shares to be reacquired by January 24, 2024.

Nidec Corporation (OTC US: NJDCY) announced the acquisition of Midori Precisions Co., Ltd. by its subsidiary Nidec Copal Electronics on March 31, 2023. This acquisition aims to leverage synergies between both companies to enhance their product offerings in potentiometers and encoders. By integrating their technologies, they anticipate meeting global demands for sensors through Nidec Copal Electronics’ global sales channels. Although the acquisition is not expected to have a significant impact on Nidec’s consolidated financial performance for the fiscal year ending March 31, 2023, it represents a strategic growth investment.

Nidec Corporation (NJDCY) announced the acquisition of Midori Precisions Co., Ltd. through its subsidiary, Nidec Copal Electronics, on March 15, 2023. Midori Precisions specializes in the development and manufacture of potentiometers and electronic components and reported sales of 2.788 billion yen with an operating profit of 495 million yen for the fiscal year ending March 31, 2022. This acquisition is expected to create synergies in product development and enhance sales resources, contributing to Nidec’s growth strategy in sensing technologies. The financial impact for Nidec's current fiscal year is not expected to be significant.

Nidec Corporation (OTC US: NJDCY) announced that an extraordinary meeting of its Board of Directors on March 10, 2023, led to the appointment of five new Executive Vice Presidents, effective April 1, 2023. These appointments align with the company's selection policy determined by the Nomination Committee. One of the new Executive Vice Presidents will be named President in April 2024. The executives include Toshiyuki Otsuka, Tatsuya Nishimoto, Yoshihisa Kitao, Toshihiko Koseki, and Mitsuya Kishida, all of whom bring diverse leadership roles within Nidec's various business units.

Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) has expressed its condolences to the victims of the February 6 earthquake in Turkey and Syria. In a show of support, the company has pledged a donation of 10 million yen to the Japanese Red Cross Society to aid in recovery efforts. Nidec reiterates its solidarity with those impacted and commends the rescue workers involved in the relief operations.

Nidec Corporation (OTC US: NJDCY) announced its share repurchase status as part of an ongoing buyback plan approved on January 24, 2023. The repurchase period from February 1, 2023 to February 28, 2023 saw the company buy back 730,000 shares for a total of 5,029,141,500 yen. This buyback aligns with a broader goal to repurchase up to 5,000,000 shares over a year, representing 0.87% of total shares issued. The total allowable repurchase amount stands at 35 billion yen.

Nidec Corporation has successfully completed the acquisition of PAMA S.p.A, an Italian machine tool manufacturer, as of February 1, 2023. PAMA becomes a wholly owned subsidiary, aiming to enhance Nidec's machine tool business strategy. PAMA, founded in 1926 and headquartered in Rovereto, Italy, holds a significant market share in boring and milling machines. The combined annual sales of Nidec's machine tool companies are approximately 87 billion yen, with ambitious targets of over 260 billion yen by 2025 and 500 billion yen by 2030. The acquisition is not expected to materially impact Nidec's financial performance for the current fiscal year.

Nidec Corporation (OTC US: NJDCY) announced the status of its share repurchase plan initiated on January 24, 2023. The company is authorized to repurchase up to 5,000,000 shares, which represents 0.87% of the total shares issued, excluding treasury stock. The total repurchase amount is set at 35 billion yen. However, from January 25, 2023 to January 31, 2023, Nidec reported buying back 0 shares for a total amount of 0 yen.

Nidec Corporation (OTC: NJDCY) has announced a new share repurchase plan, authorized by its Board of Directors on January 24, 2023. The plan allows for the repurchase of up to 5 million shares, amounting to 35 billion yen, representing approximately 0.87% of total shares issued. The repurchase period extends from January 25, 2023, to January 24, 2024. This initiative is aimed at enhancing agile capital management in response to the evolving business landscape. As of December 31, 2022, the company had 574,760,302 shares issued, with 21,524,166 shares held in treasury.