KYOTO, Japan, Dec. 24, 2008 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) announced today that the Company completed the repurchase of 1,000,000 shares of its outstanding common stock under its own-share repurchase program announced on February 1, 2008 (Reference 1), pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan. The Company plans to continue repurchasing its common shares from time to time until November 24, 2009 under its subsequent own-share repurchase program announced on November 21, 2008 (Reference 2).
Details are as follows:
Result of Own Share Purchase
Class of shares repurchased: Common stock
Total number of shares repurchased: 1,000,000 shares
Total amount of repurchase: 3,933,094,000 yen
Period of repurchase: October 31, 2008 through December 22, 2008
Method of repurchase: Purchase on Osaka Securities Exchange
(Reference 1)
Resolution of the Board of Directors on February 1, 2008
Class of shares to be repurchased: Common stock
Total number of shares to be repurchased: Up to 1,000,000
shares
Total amount of repurchase: Up to 6 billion yen
Period of repurchase: February 4, 2008 through February 3, 2009
(Reference 2)
Resolution of the Board of Directors on November 21, 2008
Class of shares to be repurchased: Common stock
Total number of shares to be repurchased: Up to 5,000,000 shares
Total repurchase amount: Up to 25 billion yen
Period of repurchase: November 25, 2008 through November 24, 2009