Nidec : Notice Regarding the Status of Own Share Repurchase
May 28, 2020 at 09:21 am EDT
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FOR IMMEDIATE RELEASE
Nidec Corporation
Tokyo Stock Exchange code: 6594
Contact:
Teruaki Urago General Manager Investor Relations +81-75-935-6140ir@nidec.com
Released on May 7, 2020, in Kyoto, Japan
Notice Regarding 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)
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
Period of own share repurchase: From April 1, 2020 through April 30, 2020
Class of shares: Common stock
Number of own shares repurchased: 19,800
Total repurchase amount: 98,985,000 yen
Note: The above repurchase information has been prepared on the basis of trade date.
Reference
The following details were resolved by the Company's Board of Directors on January 23, 2020 and February 8, 2020:
Class of shares: Common stock
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)
Total repurchasable amount: 50 billion yen
Period of repurchase: From January 24, 2020 through January 22, 2021
Total number and yen amount of own shares repurchased from January 24, 2020 through April 30, 2020, pursuant to the Board of Directors resolution above:
Total number of own shares repurchased: 2,850,200
Total repurchase amount: 18,527,768,000 yen
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NIDEC CORPORATION
CORPORATE OFFICE: 338 KUZETONOSHIRO-CHO,MINAMI-KU, KYOTO 601-8205 JAPAN
PHONE: KYOTO +81-75-935-6140 FAX: +81-75-935-6141
URL: https://www.nidec.com/en/
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Nidec Corporation published this content on 07 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 May 2020 13:20:02 UTC
Nidec Corporation specializes in the development, manufacturing and marketing of small precision motors and automotive and appliance components. Net sales break down by family of products as follows:
- appliances, air-conditioning and industrial equipment motors (40.5%);
- small precision motors (21.9%): pin motors for hard drives, fan motors, vibrating motors, brush motors and motor applications, etc. ;
- automotive components (21.3%);
- machines (12.1%): industrial robots, card readers, test systems, presses and power transmission drives, etc. ;
- electronic and optical components (3.9%): switches, trimmer potentiometers, lens units and camera shutters, etc. ;
- other (0.3%).
The net sales are distributed geographically as follows: Japan (17.8%), China (26.7%), the United States (21.6%), Germany (6.1%), Italy (5.5%), Thailand (5.2%) and other (17.1%).