Nidec Announces Outlines of Planned Stock Split, Amendment to Articles of Incorporation, and Modification to Share Repurchase Program - Seite 2

(1)	Purpose of the Amendment
	Effective April 1, 2020, the total number of shares of the Company’s common stock authorized to be issued under Article 6 of the Company’s Article of Incorporation will be changed pursuant to Article 184, Paragraph 2, of the Companies Act of Japan in connection with the planned stock split.

(2)	Details of the Amendment

Current Article 6	Amended Article 6
Article 6 (Total number of shares the Company is authorized to issue) Total number of shares that can be issued shall be 960 million shares.	Article 6 (Total number of shares the Company is authorized to issue) Total number of shares that can be issued shall be 1,920 million shares.

(3)	Schedule for the Amendment
	Effective date of the Amendment:	April 1, 2020

 4. Modification to the Share Purchase Program 

(1)	Purpose of the Modification
	The total number of shares authorized to be repurchased under the Company’s share repurchase program shall be modified in connection with the planned stock split.
(2)	Details of the Modification

Current Program	Amended Program
Total number of shares to be repurchased: Up to 4,000,000 shares	Total number of shares to be repurchased: Up to 8,000,000 shares

(Reference)

Details of the Company’s share repurchase program as adopted at the meeting of the Board of Directors on January 23, 2020:

1. Class of shares:	Common stock
2. Total number of shares to be repurchased:	Up to 4,000,000 shares (1.36% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount:	50 billion yen
4. Period of repurchase:	January 24, 2020 through January 22, 2021

5. Other Information