KYOTO, Japan, Jan. 26, 2018 (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 24, 2017 has been concluded as of January 26, 2018. Neither the number nor yen amount of the shares repurchased reached the upper limit of this repurchase plan resolved by the Board of Directors, reflecting the share price that remained higher than expected.
Details of Share Repurchase
1. Period of share repurchase: From January 1, 2018 through January 26, 2018
2. Class of shares: Common stock
3. Number of shares repurchased: 0 shares
4. Total repurchase amount: 0 yen
A) Details of the share repurchase plan authorized by the Board of Directors on January 24, 2017
1. Class of shares: Common stock
2. 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 yen
4. Period of repurchase: From January 27, 2017 through January 26, 2018
B) Total number and yen amount of shares repurchased from January 27, 2017 through January 26, 2018, pursuant to the authorization of the Board of Directors described above:
1. Total number of shares repurchased: 520,000 shares
2. Total repurchase amount: 5,138,822,700 yen