Nidec Corporation announces an Equity Buyback for 5,000,000 shares, representing 1.69% for ¥50,000 million.
January 24, 2017 at 01:15 am
Share
Nidec Corporation (TSE:6594) announces a share repurchase program. Under the program, the company will repurchase 5,000,000 shares, representing 1.69% of the outstanding shares for ¥50,000 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. The program will run until January 16, 2018. As of January 24, 2017, the company had 296,598,296 shares outstanding and 1,543,938 shares in treasury.
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 
