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Nidec Board Authorizes Share Up to 3M Share Buyback

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Nidec Corporation (NYSE: NJ) announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on January 21, 2016, whereby the Company may repurchase up to three 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 3,000,000 shares(1.01% of total number of shares issued, excluding treasury stock)3. Total repurchase amount: Up to 24 billion yen4. Period of repurchase: From January 27, 2016 through January 26, 2017 ReferenceTotal number of shares issued and outstanding shares held in treasury as of January 21, 2016: Total number of shares issued (excluding shares held in treasury):  297,501,271 sharesShares held in treasury:  640,963 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

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Posted-In: News Buybacks Management M&A Press Releases

 

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