Nidec Announces the Status of Share Repurchases and the Completion of the Share Repurchase Plan

KYOTO, Japan, Feb. 18, 2023 (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 Item 1 of Article 459 (1) of the Companies Act of Japan.

The Company also announces that the Company’s share repurchase plan authorized by the Board of Directors on January 26, 2023 has been completed.

Details of Share Repurchase

1. Period of share repurchase: From February 1, 2023 through February 16, 2023
2. Class of shares: Common stock
3. Number of shares repurchased: 3,100,000 shares
4. Total repurchase amount: 31,412,114,100 yen

Note: The above repurchase information has been prepared on the basis of trade date

Reference

A)   Details of the share repurchase plan authorized by the Board of Directors on January 26, 2023

1. Class of shares: Common stock
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)
3. Total repurchasable amount: 50 billion yen
4. Period of repurchase: From January 27, 2023 through January 24, 2023

B)   Total number and yen amount of shares repurchased, pursuant to the authorization of the Board of Directors described above:

1. Total number of shares repurchased: 4,000,000 shares
2. Total repurchase amount: 40,257,054,900 yen