NIDEC : Notification of Share Repurchase through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)
December 25, 2015 at 03:15 am EST
Share
FOR IMMEDIATE RELEASE
Nidec Corporation
New York Stock Exchange symbol: NJ
Tokyo Stock Exchange code: 6594
Contact: Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
Released on December 25, 2015, in Kyoto, Japan
Notification of Share Repurchase
through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)
Nidec Corporation (NYSE: NJ) (the 'Company') announced that it has decided the specific method of own share repurchase of its common stock. A repurchase is conducted as a part of the share repurchase plan authorized at the meeting of Board of Directors held on January 22, 2015 pursuant to Article 156, Paragraph 1, and Nidec's Articles of Incorporation based on Article 459, Paragraph 1, Item 1 of the Company Law of Japan. Details of the method of repurchase are as follows:
1. Method of Repurchase:
The Company will place purchase orders for its shares through brokerages on the Tokyo Stock Exchange Trading NeTwork System for Off-Auction Own Share Repurchase Trading (ToSTNeT-3) for the 8:45 a.m. session on December 28, 2015 at the closing price of 8,622 yen as of today, December 25, 2015. No changes to the trading system or trading time will be made. The purchase order will be valid only at the time designated for the transaction.
2. Details of Repurchase:
(1) Class of shares to be repurchased: Common stock
(2) Number of shares to be repurchased: 20,000 shares
(3) Announcement of results of repurchase:
To be made after completion of the repurchase at 8:45 a.m. on December 28, 2015
(Note 1) The maximum number of shares to be repurchased will not change. However, there is a possibility that the Company will not make any purchase, or will only make a partial purchase, depending on market conditions.
(Note 2) The purchase will be made by matching sell orders equivalent to buy orders according to the allocation method.
(Note 3) The Company has been informed by Japan Trustee Services Bank, Ltd. (Sumitomo Mitsui Trust Bank, Ltd. Re-trust Account; Nidec Corporation trust account for retirement benefits) that they desire to sell all of their holdings of the Company's common shares.
Reference
The following details were resolved by the Company's Board of Directors on January 22, 2015:
1. Class of shares: Common stock
2. Total number of shares to be repurchased: Up to 4,000,000 shares
(1.42% of total number of shares issued, excluding treasury stock)
3. Total repurchase amount: Up to 24 billion yen
4. Period of repurchase: From January 27, 2015 through January 26, 2016
Nidec Corporation issued this content on 2015-12-25 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-25 08:14:12 UTC
Original Document: http://www.nidec.com/en-Global/corporate/news/2015/news1225-03/
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%).