Nidec Announces the Status of Share Repurchases and the Conclusion of the Share Repurchase Plan
(Repurchases of Shares Pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan)
KYOTO, Japan, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 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 Article 459, Paragraph 1, Item 1 of the Company Law of Japan.
The Company’s share repurchase plan authorized by the Board of Directors on January 23, 2019 has been concluded as of January 23, 2020. Neither the number nor yen amount of the shares repurchased reached the predetermined upper limits due mainly to:
-special blackout periods triggered by major strategic transactions, including business acquisitions, that potentially involved material non-public information, and
-the Company's stock price remaining within the expected range.
Details of Share Repurchase
1. Period of share repurchase: From January 1, 2020 through January 23, 2020
2. Class of shares: Common stock
3. Number of shares repurchased: 0 shares
4. Total repurchase amount: 0 yen
Reference
A) Details of the share repurchase plan authorized by the Board of Directors on January 23, 2019
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 5,000,000 shares
(1.70% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From January 29, 2019 through January 23, 2020
B) Total number and yen amount of shares repurchased from January 29, 2019 through January 23, 2020, pursuant to the authorization of the Board of Directors described above:
1. Total number of shares repurchased: 0 shares
2. Total repurchase amount: 0 yen
| Contact: | |
| Masahiro Nagayasu | |
| General Manager | |
| Investor Relations | |
| +81-75-935-6140 | |
| ir@nidec.com | |
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