Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
(Repurchases of Shares Pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan)
KYOTO, Japan, Jan. 24, 2017 -- Nidec Corporation (TSE:6594) (OTC US:NJDCY) (the “Company”) announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on January 24, 2017, whereby the Company may repurchase up to five 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 Repurchase
This authorization is intended to enable agile capital management highly responsive to the changing business environment.
Details of Authorized Share Repurchase Plan
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
Reference
Total number of shares issued and outstanding shares held in treasury as of January 24, 2017:
- Total number of shares issued (excluding shares held in treasury): 296,598,296 shares
- Shares held in treasury: 1,543,938 shares
Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements regarding the Company’s current intent, plans, expectations and estimates. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, available funds, future alternative uses for cash, future competing investment opportunities, and general economic, business and market conditions. The Company assumes no obligation to, and does not currently intend to, update these forward-looking statements, except as required by law.
Contact: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 [email protected]
