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Nidec Announces Notice Regarding Decision On Matters Relating To Repurchases Of Shares

Stocks in this article: NJ

KYOTO, Japan, Nov. 5, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced that at a meeting of the Board of Directors of the Company held on November 5, 2013, the following decision was made regarding repurchases of shares of common stock of the Company from its subsidiaries pursuant to Article 156 of the Company Law of Japan (the "Company Law") as made applicable through Article 163 of the Company Law.

Background of the Share Repurchases

The Company decided to repurchase shares of its common stock that are held by the subsidiaries described below pursuant to Paragraph 3 of Article 135 of the Company Act.

Details of the Share Repurchases

1. Class of securities subject to the share repurchases: Common stock

2. Total number of shares to be repurchased: 240,075 shares (0.17% of the total number of shares issued, excluding treasury stock) (of which 138,075 shares are held by Nidec Copal Corporation, 68,000 shares by Nidec Tosok Corporation, and 34,000 shares by Nidec Copal Electronics Corporation)

3. Total repurchase price:  2,218,293,000 yen (The total repurchase price was determined by multiplying 240,075, which is the total number of shares to be repurchased, by 9,240 yen, which is the closing price of the Company's common stock on the First Section of the Tokyo Stock Exchange on November 5, 2013.)

4. Date of the share purchases:  November 5, 2013

5. Method of repurchases:  Repurchases of the subject shares directly from the subsidiaries

Overview of the Subsidiaries (as of October 31, 2013)  

1. Company name Nidec Copal  Nidec Tosok  Nidec Copal
  Corporation Corporation Electronics Corporation
2. Address of head office 2-18-10 Shimura, Itabashi,  2-24-1 Sobudai, Zama, 7-5-25 Nishishinjyuku, 
  Tokyo, Japan  Kanagawa, Japan Shinjyuku, Tokyo, Japan
3.Name and title of  Shigeru Izawa Shigeru Murata Sho Kikuchi
company representative Representative Director, President and Chief President and Chief
  President Executive Officer Executive Officer
4. Principal businesses Manufacture and sales of  Development,  Manufacture and sales of 
  optical equipment,  manufacture and sales  electronic components
  electronic equipment,  of automobile parts and   
  components and system measuring devices  
5. Share capital 11,080 million yen 5,087 million yen 2,362 million yen


Total number of shares issued and outstanding and shares held in treasury as of October 31, 2013:

  • Total number of shares issued (excluding shares held in treasury):  138,149,516 shares
  • Shares held in treasury:  6,925,564 shares

Cautionary Statement Concerning Forward-Looking Information

This press release contains forward-looking statements regarding the Company'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, alternative uses for cash, competing investment opportunities, and changes in general economic, business and market conditions. The Company assumes no obligation to, and does not currently intend to, update these forward-looking statements, except as required by law.

CONTACT: Masahiro Nagayasu
         General Manager
         Investor Relations

Nidec Corporation

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