FOR IMMEDIATE RELEASE

Nidec Corporation
New York Stock Exchange symbol: NJ
Stock exchange code (Tokyo, Osaka): 6594

Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@jp.nidec.com

Released on June 9, 2012, in Kyoto, Japan

 

Nidec Expands Own Share Repurchase Plan

(Repurchase of own shares, pursuant to the Company's Articles of Incorporation based on the provisions of Article 459-1-1 of the Companies Act of Japan)

Nidec Corporation (NYSE: NJ)(the “Company”) announced today that its Board of Directors has authorized a modification to its own share repurchase plan resolved at a meeting of the Board of Directors held on February 5, 2012. The authorization increases the number of own shares purchasable under the plan from 3,000,000 shares to 5,000,000 shares, raising the total authorized amount from 25 billion yen to 40 billion yen.

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. As of June 8, 2012, a total of 2,114,100 shares had been repurchased under the current plan.

Details of the Modification to Own Share Repurchase Plan

    Previous Plan Modified Plan
(1) Class of shares: Common stock Common stock
(2) Total number of own shares to be repurchased: Up to 3,000,000 shares
(2.07% of outstanding shares)
Up to 5,000,000 shares
(3.45% of outstanding shares)
(3) Total repurchase amount: Up to 25 billion yen Up to 40 billion yen
(4) Period of repurchase: From February 7, 2012
through February 6, 2013
From February 7, 2012
through February 6, 2013

Reference

A) The accumulative number of own shares repurchased up to June 8, 2012, pursuant to the Board of Directors resolution above:
· Accumulative number of own shares repurchased: 2,114,100 shares
· Total accumulative repurchase amount: 13,563,263,000 yen
B) Total number of shares issued and treasury stock as of June 8, 2012:
· Total number of shares outstanding (excluding treasury stock): 134,720,331 shares
· Treasury stock: 10,354,749 shares

Disclaimer Regarding Forward-looking Statements

This press release contains forward-looking statements that are based on Nidec's current expectations, including statements regarding Nidec's plans and expectations with respect to its share repurchase program. Factors that could cause actual results to differ materially from those contained in such forward-looking statements include, but are not limited to: future alternative uses for cash, future competing investment opportunities, and general economic, business and market conditions. Nidec assumes no obligation to, and does not currently intend to, update these forward-looking statements.