KYOTO, Japan, Feb. 5, 2012 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) announced today that it has resolved at a meeting of the Board of Directors held on February 5, 2012 to repurchase its own shares, pursuant to Article 459, Paragraph 1, Item 1 of the Companies Act of Japan.
Reason for Share Repurchase
This resolution is intended to ensure agile capital management highly responsive to the changing business environment.
Details of Authorized Share Repurchase
1. Class of shares: Common stock
2. Total number of repurchaseable shares: Up to 3,000,000 shares
(2.07% of total number of shares issued)
3. Total repurchase amount: Up to 25 billion yen
4. Period of repurchase: From February 7, 2012 through February 6, 2013
Reference
Total number of shares issued and treasury shares as of January 31, 2012:
- Total number of shares issued (excluding treasury stock): 136,834,608 shares
- Treasury stock: 8,240,472 shares
The Nidec Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=1734
Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements regarding Nidec'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. Nidec assumes no obligation to, and does not currently intend to, update these forward-looking statements, except as required by law.