KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the ”Company”) today announces the status of the Company’s share repurchases under its repurchase plan in accordance with the Articles of Incorporation pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan.
The Company also announces that the Company’s share repurchase plan authorized by the Board of Directors on January 24, 2023, has been completed.
During its repurchase plan, the incident in which the distributable amount was exceeded occurred, and we established the governance system and business execution system based on recommendations from the external investigation committee to prevent recurrence. And we needed time to get our business partners to understand the aims. We would also like to announce that as a result of comprehensive consideration of stock market trends, trends in our stock price, progress status of capital policy, etc., we have not reached the upper limit of the total number of shares resolved or the total acquisition price that was resolved.
Details of Share Repurchase
- Period of share repurchase: From January 1, 2024 through January 24, 2024
- Class of shares: Common stock
- Number of shares repurchased: 0 shares
- Total repurchase amount: 0 yen
Note: The above repurchase information has been prepared on the basis of trade date
Reference
A) Details of the share repurchase plan authorized by the Board of Directors on January 24, 2023
- Class of shares: Common stock
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Total number of shares that may be repurchased: Up to 5,000,000 shares
(0.87% of total number of shares issued, excluding treasury stock) - Total repurchasable amount: 35 billion yen
- Period of repurchase: From January 25, 2023 through January 24, 2024
B) Total number and yen amount of shares repurchased, pursuant to the authorization of the Board of Directors described above:
- Total number of shares repurchased: 1,171,400 shares
- Total repurchase amount: 7,865,806,100 yen
