KYOTO, Japan, July 28, 2005 (PRIMEZONE) -- In a meeting of the Board of Directors held on Thursday, July 28, 2005, Nidec Corporation ("the Company")(NYSE:NJ)(TSE:6594) decided to implement a two-for-one stock split (the "Stock Split") by free share distribution.
The details of the Stock Split are as follows.
1. Purpose of the Stock Split
In consideration of recent movements of its stock price, the Company decided to implement a stock split with the aim of broadening its investor base and increasing the liquidity of its stock.
2. Outline of the Stock Split
(1) Method: The shares of shareholders listed or recorded on the
final shareholders register and the official shareholders
register for Friday, September 30, 2005 will be split two for
one.
(2) Number of shares to be split and increased: With respect to the
ordinary shares, the number of issued shares of record on
Friday, September 30, 2005 will be the number of shares to be
split.
The number of issued shares after the Stock Split, calculated on the
basis of issued shares on Thursday, July 28, 2005, will be as follows.
Current issued shares: 71,414,524 shares
Increase in shares: 71,414,524 shares
Issued shares after the Stock Split: 142,829,048 shares
The number of issued shares resulting from the Stock Split is subject
to change mainly due to the possible exercise of stock acquisition
rights during the period between the Board decision on the Stock Split
and the actual date of the Stock Split.
(3) Effective date (Issue date of split shares): Friday, November 18,
2005
(4) Initial date for dividend accrual: Saturday, October 1, 2005
(5) Any other necessary details regarding the Stock Split will be
decided by resolution of the Company's Board of Directors.
Reference
1. The Stock Split will not increase the Company's paid-in capital
Paid-in capital as of July 28, 2005: 61,735,895,950 Japanese Yen
2. The number of authorized shares currently specified in the Company's Articles of Incorporation is 240,000,000. The Company, pursuant to the provisions set forth in Article 218-(2) of Japanese Commercial Code, is changing its Articles of Incorporation at a meeting of the Board of Directors to increase its authorized shares in the proportion the Stock Split represents.
3. From the fiscal year ending March 31, 2006 onward, dividends per share, in principle, will correspond to half the ordinary dividend per share before the Stock Split.
4. As a result of this Stock Split, the exercise prices for the Company's 2nd Unsecured Convertible Bond, Stock Acquisition Rights, and Yen Denominated Convertible Bonds with Stock Acquisition
Rights due October 17, 2008 will be adjusted as follows on and after October 1, 2005.
(Yen)
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Adjusted Previous
(Exercise (Exercise
Issue Date Prices) Prices)
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The 2nd Unsecured
Convertible Bond January 28, 1999 3,399.45 6,798.90
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Stock Acquisition Rights May 14, 2003 3,675.00 7,350.00
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Yen Denominated Convertible
Bonds with Stock
Acquisition Rights due
October 17, 2008 October 17, 2005 6,914.35 13,828.70
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