Nidec Board Authorizes Share Repurchase Plan
January 24 2017 - 1:15AM
(Repurchases of Shares Pursuant to Article 459,
Paragraph 1, Item 1 of the Company Law of Japan)
Nidec Corporation (TSE:6594) (OTC US:NJDCY) (the “Company”)
announces today that its Board of Directors has authorized a new
share repurchase plan at a meeting held on January 24, 2017,
whereby the Company may repurchase up to five million shares in
accordance with the Article of Incorporation pursuant to Article
459, Paragraph 1, Item 1 of the Company Law of Japan.
Reason for Share RepurchaseThis authorization
is intended to enable agile capital management highly responsive to
the changing business environment.
Details of Authorized Share Repurchase
Plan1. Class of shares: Common stock2. Total number of
shares that may be repurchased: Up to 5,000,000 shares
(1.69% of total number of shares issued, excluding treasury
stock)3. Total repurchase amount: Up to 50 billion yen4. Period of
repurchase: From January 27, 2017 through January 26, 2018
ReferenceTotal number of shares
issued and outstanding shares held in treasury as of January 24,
2017:
- Total number of shares issued (excluding shares held in
treasury): 296,598,296 shares
- Shares held in treasury: 1,543,938 shares
Cautionary Statement Concerning
Forward-Looking InformationThis press release contains
forward-looking statements regarding the Company’s current intent,
plans, expectations and estimates. Such forward-looking statements
are not guarantees of future performance or events and involve
risks and uncertainties. Actual results may differ materially from
those described in such forward-looking statements as a result of
various factors, including, but not limited to, available funds,
future alternative uses for cash, future competing investment
opportunities, and general economic, business and market
conditions. The Company assumes no obligation to, and does not
currently intend to, update these forward-looking statements,
except as required by law.
Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com