- Contact:
- Akira Ishida
- General Manager
- General Affairs Dep
- +81-75-935-6100
Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced that it has confirmed the English report issued by Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis & Co., LLC (Glass Lewis), both proxy-advisory firms, recommending opposing to the election of Ms. Aya Yamada and Ms. Junko Watanabe, whom Nidec Corporation (the “Company”) is requesting to be appointed to respectively serve as an outside member of the Board of Directors who is an Audit and Supervisory Committee Member, and as a substitute outside member of the Board of Directors who is an Audit and Supervisory Committee Member based on Bills No. 3-4 and No. 4 of the Company’s 47th Regular General Meeting of Shareholders that is scheduled to be held on Wednesday, June 17, 2020.
While the Company’s opinions, etc. regarding the aforementioned Bills (No. 3-4 and No. 4) are as described in the documents for reference for the 47th Regular General Meeting of Shareholders, please kindly see the following additional information for the Company’s shareholders and investors regarding the Bills.
The Bills:
| No. 3-4. |
Election of a candidate for a member of the Board of Directors who is an Audit and Supervisory Committee Member Ms. Aya Yamada, a candidate for a member of the Board of Directors who is an Audit and Supervisory Committee Member |
| No. 4. |
Election of a candidate for a substitute member of the Board of Directors who is an Audit and Supervisory Committee Member Ms. Junko Watanabe, a candidate for a substitute member of the Board of Directors who is an Audit and Supervisory Committee Member |
The reason for the recommendation by ISS and Glass Lewis to oppose to the election of the above individuals to the respective positions:
The amount of the Company’s donation to Kyoto University, which the two candidates are members of, is not disclosed.
Information to be added to the notice of the Company’s 47th Regular General Meeting of Shareholders:
The term “39 million yen” will be added to the sections of Note 1 on Page 20, Note 1 on Page 21, and Note 9 on Page 43, respectively.
The language after the above information is added:
“The Company made a donation to Kyoto University to support its educational and research activities during the fiscal year 2019; however, the amount of the donation, 39 million yen, was insignificant”
