Nidec Announces Outlines of Planned Stock Split, Amendment to Articles of Incorporation, and Modification to Share Repurchase Program

KYOTO, Japan, Feb. 08, 2020 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced that the Board of Directors of the Company, at a meeting held on February 8, 2020, made the following decisions regarding a stock split and an amendment to the Company’s Articles of Incorporation, as well as a modification to the Company’s share repurchase program resolved on January 23, 2020.

1. Purposes of the Stock Split

The Company has decided to implement a stock split to enhance the liquidity of the Company’s common stock and expand its investor base by reducing the trading price per share of the Company’s common stock.

2. Outline of the Stock Split

(1)	Method of the Stock Split
	Each of the shares of the Company’s common stock held by shareholders included or recorded in the final register of shareholders as of the record date of March 31, 2020 (Tuesday) will be split into two shares.
(2)	Increase in Number of Shares in Connection with the Stock Split
	Total issued shares prior to stock split:		298,142,234 shares
	Increase in shares in connection with stock split:		298,142,234 shares
	Total issued shares following stock split:		596,284,468 shares
	Total number of shares authorized to be issued following stock split:		1,920,000,000 shares
(3)	Schedule for the Stock Split
	Public notice of record date:	March 13, 2020
	Record date:	March 31, 2020
	Effective date:	April 1, 2020

3. Amendment to the Article of Incorporation