(Repurchases of Shares Pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan)
KYOTO, Japan–(BUSINESS WIRE)–Nidec Corporation (TOKYO: 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 Item 1 of Article 459 (1) of the Companies Act of Japan.
The Company also announces that the Company’s share repurchase plan authorized by the Board of Directors on January 24, 2023, has been completed.
During its repurchase plan, the incident in which the distributable amount was exceeded occurred, and we established the governance system and business execution system based on recommendations from the external investigation committee to prevent recurrence. And we needed time to get our business partners to understand the aims. We would also like to announce that as a result of comprehensive consideration of stock market trends, trends in our stock price, progress status of capital policy, etc., we have not reached the upper limit of the total number of shares resolved or the total acquisition price that was resolved.
Details of Share Repurchase
Note: The above repurchase information has been prepared on the basis of trade date
Reference
A) Details of the share repurchase plan authorized by the Board of Directors on January 24, 2023
B) Total number and yen amount of shares repurchased, pursuant to the authorization of the Board of Directors described above:
Contacts
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
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