- Contact:
- Masahiro Nagayasu
- General Manager
- Investor Relations
- +81-75-935-6140
- ir@nidec.com
Released on March 1, 2023, in Kyoto, Japan
(Repurchase of own shares, pursuant to the Company’s Articles of Incorporation based on the provisions of Item 1 of Article 459 (1) of the Companies Act of Japan)
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced the status of the Company’s own share repurchase under its ongoing repurchase plan resolved at a meeting of the Board of Directors held on January 24, 2023, pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan.
Details of Share Repurchase
| 1. Period of own share repurchase: | From February 1, 2023 through February 28, 2023 |
| 2. Class of shares: | Common stock |
| 3. Number of own shares repurchased: | 730,000 |
| 4. Total repurchase amount: | 5,029,141,500 yen |
Reference
A) Details of the share repurchase plan authorized by the Board of Directors on January 24, 2023:| 1. Class of shares: | Common stock |
| 2. 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) |
| 3. Total repurchasable amount: | 35 billion yen |
| 4. Period of repurchase: | From January 25, 2023 through January 24, 2024 |
B) Total number and yen amount of own shares repurchased from January 25, 2023 through February 28, 2023, pursuant to the Board of Directors resolution above:
| 1. Total number of own shares repurchased: | 730,000 |
| 2. Total repurchase amount: | 5,029,141,500 yen |
