Nidec Corporation's Equity Buyback in the amount of ¥40000 mm has expired
January 23, 2013 at 11:00 pm EST
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The Board of Directors of Nidec Corp. (TSE:6594) authorized a share repurchase program on February 5, 2012. Under the program, the company will repurchase up to 3,000,000 common shares, representing 2.19% of its issued shares capital, for up to ¥25 billion. The purpose of the plan is to ensure agile capital management highly responsive to the changing business environment. The plan will commence on February 7, 2012 and will continue until February 6, 2013. As of January 31, 2012, the company has 136,834,608 shares in issue and 8,240,472 shares in treasury.
On June 8, 2012, the Board authorized an increase to the share repurchase program by 2,000,000 shares, thereby bringing the total authorization to 5,000,000 shares, representing 3.45% of its capital and raising the total authorized amount from ¥25 billion to ¥40 billion. The decision to expand the own share repurchase plan is part of the company's efforts to ensure capital flexibility in the fast-changing business environment. Till March 31, 2012, no shares were purchased.
Nidec Corp.'s share repurchase program expired on January 24, 2013. Under the program, the company has repurchased 4,230,400 shares, representing 3.1% for ¥26.72 billion.
Nidec Corporation specializes in the development, manufacturing and marketing of small precision motors and automotive and appliance components. Net sales break down by family of products as follows:
- appliances, air-conditioning and industrial equipment motors (40.5%);
- small precision motors (21.9%): pin motors for hard drives, fan motors, vibrating motors, brush motors and motor applications, etc. ;
- automotive components (21.3%);
- machines (12.1%): industrial robots, card readers, test systems, presses and power transmission drives, etc. ;
- electronic and optical components (3.9%): switches, trimmer potentiometers, lens units and camera shutters, etc. ;
- other (0.3%).
The net sales are distributed geographically as follows: Japan (17.8%), China (26.7%), the United States (21.6%), Germany (6.1%), Italy (5.5%), Thailand (5.2%) and other (17.1%).
NIDEC CORPORATION 
