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Nidec Announces the Status of Own Share Repurchase

(Repurchase of own shares, pursuant to the Company’s Articles of Incorporation based on the provisions of Article 459-1-1 of the Company Law of Japan)

/EIN News/ -- KYOTO, Japan, Sept. 01, 2020 (GLOBE NEWSWIRE) -- 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 23, 2020, and February 8, 2020, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.

Details are as follows:

Details of Share Repurchase   
1. Period of own share repurchase: From August 1, 2020 through August 31, 2020
2. Class of shares: Common stock
3. Number of own shares repurchased: 0
4. Total repurchase amount: 0 yen

Note: The above repurchase information has been prepared on the basis of trade date.

Reference
A) The following details were resolved by the Company’s Board of Directors on January 23, 2020 and February 8, 2020:
1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 8,000,000 shares 
    (1.36% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From January 24, 2020 through January 22, 2021

B) Total number and yen amount of own shares repurchased from January 24, 2020 through August 31, 2020, pursuant to the Board of Directors resolution above:
1. Total number of own shares repurchased: 2,850,200
2. Total repurchase amount: 18,527,768,000 yen

Contact:
  Masahiro Nagayasu
  General Manager
  Investor Relations
  +81-75-935-6140
  ir@nidec.com

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