KYOTO, Japan, Jan. 26, 2017 (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 Article 459, Paragraph 1, Item 1 of the Company Law of Japan.
The Company’s share repurchase plan authorized by the Board of Directors on January 21, 2016 and December 20, 2016 has been concluded as of January 26, 2017. Under this repurchase plan, no own share repurchases were conducted for the following reasons:
1) The company was subject to restrictions on own-share repurchase for a certain period of time due to the possession of material non-public information.
2) The Company’s share price during the stated repurchase period remained at the high side of the normal trading range and beyond the levels assumed at the point of the authorization of the repurchase plan.
Details of Share Repurchase
1. Period of share repurchase: From January 1, 2017 through January 26, 2017
2. Class of shares: Common stock
3. Number of shares repurchased: 0 shares
4. Total repurchase amount: 0 yen
Reference
A) Details of the share repurchase plan authorized by the Board of Directors on January 21, 2016 and December 20, 2016
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, 2016 through January 26, 2017
B) Total number and yen amount of shares repurchased from January 27, 2016 through January 26, 2017, pursuant to the authorization of the Board of Directors described above:
1. Total number of shares repurchased: 0 shares
2. Total repurchase amount: 0 yen