KYOTO, Japan, Jan. 26, 2015 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced 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 22, 2014, has been concluded as of January 26, 2015.
The Company did not repurchase its shares as authorized by the Board of Directors because the Company's share price movement had maintained an upward trend since the authorization of the share repurchase plan announced on January 22, 2014. Consequently, the share repurchase period expired without the Company repurchasing its shares.
Details of Share Repurchases
| 1. Period of share repurchases: From January 1, 2015 through January 26, 2015 |
| 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 22, 2014 and March 8, 2014:
| 1. Class of shares: Common stock |
| 2. Total number of shares to be repurchased: Up to 4,000,000 shares |
| (1.45% of total number of shares issued, excluding treasury stock) |
| 3. Total repurchase amount: Up to 24 billion yen |
| 4. Period of repurchase: From January 27, 2014 through January 26, 2015 |
B) Total number of shares repurchased through January 26, 2015, 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 |