{"id":419879,"date":"2021-01-25T01:18:04","date_gmt":"2021-01-25T06:18:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=419879"},"modified":"2021-01-25T01:18:04","modified_gmt":"2021-01-25T06:18:04","slug":"nidec-board-authorizes-share-repurchase-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nidec-board-authorizes-share-repurchase-plan\/","title":{"rendered":"Nidec Board Authorizes Share Repurchase Plan"},"content":{"rendered":"

\n(Repurchases of Shares Pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan)
\n<\/h2>\n
\n

KYOTO, Japan, Jan. 25, 2021 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the \u201cCompany\u201d) announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on January 25, 2021, whereby the Company may repurchase up to four million shares in accordance with the Article of Incorporation pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.<\/p>\n

\n Reason for Share Repurchase<\/strong>
\n
This authorization is intended to enable agile capital management highly responsive to the changing\u00a0business environment.<\/p>\n

\n Details of Authorized Share Repurchase Plan<\/strong>
\n \n <\/p>\n

    \n
  1. Class of shares: Common stock<\/li>\n
  2. Total number of shares that may be repurchased: Up to 4,000,000 shares
    (0.68% of total number of shares issued, excluding treasury stock)<\/li>\n
  3. Total repurchasable amount: 50 billion yen<\/li>\n
  4. Period of repurchase: From January 26, 2021 through January 25, 2022<\/li>\n<\/ol>\n

    \n Reference<\/strong>
    \n
    Total number of shares issued and outstanding shares held in treasury as of January 25, 2021:<\/p>\n