(Repurchases of Shares Pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan)
KYOTO, Japan, Jan. 22, 2021 (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, 2020, and February 8, 2020 has been concluded as of January 22, 2021. Neither the number nor yen amount of the shares repurchased reached the predetermined upper limits due mainly to:
the Company's stock price remaining within the expected range, and
uptrend of the Company's stock price in the latter half of the current period of share repurchase.
Details of Share Repurchase
1. Period of share repurchase: From January 1, 2021 through January 22, 2021
2. Class of shares: Common stock
3. Number of shares repurchased: 0 shares
4. Total repurchase amount: 0 yen
Note: The above repurchase information has been prepared on the basis of trade date.
A) Details of the share repurchase plan authorized by the 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 shares repurchased from January 24, 2020 through January 22, 2021, pursuant to the authorization of the Board of Directors described above:
1. Total number of shares repurchased: 2,850,200 shares
2. Total repurchase amount: 18,527,768,000 yen