Market Overview

Nidec Board Authorizes Up to 3M Share Repurchase

Nidec Corporation (NYSE: NJ) announced today that it has resolved at a meeting of the Board of Directors held on January 24, 2013 to repurchase its own shares in accordance with the Articles of Incorporation pursuant to Article 459, Paragraph 1, Item 1 of the Companies Act of Japan.

The Company's share repurchase plan authorized by the Board of Directors on February 5, 2012, as modified by a resolution of the Board of Directors on June 9, 2012, has been terminated as of January 24, 2013.

Details of Share Repurchases
1. Period of share repurchases: From January 1, 2013 through January 24, 2013
2. Class of shares: Common stock
3. Number of shares repurchased: 0 shares
4. Total repurchase amount: 0 yen

Reference
A) Details of the share repurchase plan authorized by the Board of Directors on February 5, 2012, as modified by a resolution of the Board of Directors on June 9, 2012:

1. Class of shares: Common stock
2. Total number of shares to be repurchased: Up to 5,000,000 shares
(3.45% of total number of shares issued)
3. Total repurchase amount: Up to 40 billion yen
4. Period of repurchase: From February 7, 2012 through February 6, 2013

B) Total number of shares repurchased through January 24, 2013, pursuant to the authorization of the Board of Directors described above:

1. Total number of shares repurchased: 4,230,400 shares
2. Total repurchase amount: 26,715,197,000 yen

See full press release

Posted-In: Earnings News Guidance Buybacks Management Global

 

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