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KYOTO, Japan, March 7, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced that the Board of Directors of the Company, at a meeting held on March 8, 2014, made the following decisions regarding a stock split and an amendment to the Company's Articles of Incorporation, as well as a modification to the Company's share repurchase program, which was adopted at the meeting of the Board of Directors on January 22, 2014.
1. Purposes of the Stock Split
The Company has decided to implement the stock split to enhance the liquidity of the Company's common stock and expand its investor base by reducing the trading price per share of the Company's common stock.
2. Outline of the Stock Split
(1) Method of the Stock Split
Each of the shares of the Company's common stock held by shareholders included or recorded in the final register of shareholders as of the record date of March 31, 2014 (Monday) will be split into two shares.
(2) Increase in Number of Shares in Connection with the Stock Split
Total issued shares prior to stock split:
Increase in shares in connection with stock split:
Total issued shares following stock split:
Total number of shares authorized to be issued following stock split:
(3) Schedule for the Stock Split
Public notice of record date:
March 14, 2014
March 31, 2014
April 1, 2014
(3) Amendment to the Articles of Incorporation
(1) Purpose of the Amendment