Nidec Corporation announces an Equity Buyback for 6,000,000 shares, representing 2.21% for ¥20,000 million.
January 24, 2013 at 11:44 am
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The Board of Directors of Nidec Corp. (TSE:6594) authorized a share repurchase program on January 24, 2013. Under the program, the company will repurchase up to 3,000,000 shares, representing 2.21% of total number of shares issued, excluding treasury shares. The repurchase will amount to ¥20 billion. The repurchases will be in accordance with the Articles of Incorporation pursuant to Article 459, Paragraph 1, Item 1 of the Companies Act of Japan. The purpose of the program is to ensure agile capital management highly responsive to the changing business environment. As of January 24, 2013, the company has 135,768,464 shares issued excluding treasury shares and has 9,306,616 shares in treasury.
Effective March 31, 2012, the company announced 1:2 stock split.
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 
