Nidec Board Authorizes Own Share Repurchase
KYOTO, Japan, Feb. 4, 2011 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) announced today that its has resolved at a meeting of the Board of Directors held on February 5, 2011 to repurchase its own shares, pursuant to Article 459, Paragraph 1, Item 1 of the Company Law of Japan.
Reason for Share Repurchase
This resolution is intended to ensure agile capital management highly responsive to the changing business environment.Details of Share Repurchase
- Class of shares: Common stock
- Total number of repurchaseable shares: Up to 3,000,000 shares (2.07% of total number of shares issued)
- Total repurchase amount: Up to 25 billion yen
- Period of repurchase: Between February 7, 2011 and February 6, 2012
- Total number of shares issued (excluding treasury stock): 139,151,390 shares
- Treasury stock: 5,923,690 shares
CONTACT: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 firstname.lastname@example.org
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