Nidec Announces the Status of Share Repurchases and the Completion of the Share Repurchase Plan
24 May 2024 - 7:10AM
Business Wire
(Repurchases of Shares Pursuant to Item 1 of
Article 459 (1) of the Companies Act of Japan)
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, 2024, has
been completed.
Regarding this resolution to acquire treasury stock, we would
also like to announce that we have no acquired treasury stock
during the period of repurchase (from January 25, 2024 to May 24,
2024) as the market share price remained within the range of stock
price levels that the Company considers appropriate.
Details of Share Repurchase
- Period of share repurchase: From May 1, 2024 through May 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, 2024
- Class of shares: Common stock
- Total number of shares that may be repurchased: Up to 2,000,000
shares (0.34% of total number of shares issued, excluding treasury
stock)
- Total repurchasable amount: 11 billion yen
- Period of repurchase: From January 25, 2024 through May 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: 0 shares
- Total repurchase amount: 0 yen
Cautionary Statement Concerning Forward-Looking
Information
This press release contains forward-looking statements regarding
the Company’s current intent, plans, expectations and estimates.
Such forward-looking statements are not guarantees of future
performance or events and involve risks and uncertainties. Actual
results may differ materially from those described in such
forward-looking statements as a result of various factors,
including, but not limited to, available funds, future alternative
uses for cash, future competing investment opportunities, and
general economic, business and market conditions. The Company
assumes no obligation to, and does not currently intend to, update
these forward-looking statements, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240523802330/en/
Teruaki Urago General Manager Investor Relations +81-75-935-6140
ir@nidec.com