Latest news with #CompaniesActofJapan
Business Wire
27-05-2025
- Business
- Business Wire
Nidec Announces That Its Board Authorizes Share Repurchase Plan
KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the 'Company') announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on May 27, 2025, whereby the Company may repurchase up to 13 million shares in accordance with the Articles of Incorporation pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan. Reason for Share Repurchase To flexibly implement share repurchases while considering factors such as funds for medium- to long-term growth investments, the current cash position, stock price levels, and the status of total shareholder returns, with a view to achieving a total return ratio of 50%. Details of Authorized Share Repurchase Plan Class of shares: Common stock Total number of shares that may be repurchased: Up to 13,000,000 shares (1.13% of total number of shares issued, excluding treasury stock) Total repurchasable amount: 35 billion yen Period of repurchase: From May 28, 2025 through May 27, 2026 Reference Total number of shares issued and outstanding shares held in treasury as of April 30, 2025: Total number of shares issued (excluding treasury stock): 1,146,307,799 shares Shares held in treasury: 46,261,137 shares Cautionary Statement Concerning Forward-Looking Information This press release contains forward-looking statements regarding the Company's current intent, plans, expectations and estimates. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, available funds, future alternative uses for cash, future competing investment opportunities, and general economic, business and market conditions. The Company assumes no obligation to, and does not currently intend to, update these forward-looking statements, except as required by law.
Yahoo
28-04-2025
- Business
- Yahoo
Mitsubishi Electric to Repurchase Company Shares
According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of Companies Act of Japan TOKYO, April 28, 2025--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that the company's Board of Directors resolved on April 28, 2025 to repurchase shares of the company's stock, as shown below, pursuant to the provisions of Article 459, paragraph 1 of the Companies Act, as well as Article 31 of the company's articles of incorporations. 1. Reason for the Repurchase of Company Shares Based on the financial policies of Mitsubishi Electric, the company will repurchase its own stock to enhance shareholder returns and strengthen capital efficiency. 2. Details of the Repurchase (1) Type of shares: Common stock (2) Number of shares: 60,000,000 shares (maximum unit) 2.89% of issued and outstanding shares (excluding treasury stock) (3) Aggregate value: JPY 100 billion (maximum limit) (4) Period: April 30, 2025-October 31, 2025 (5) Method: Market trades on Tokyo Stock Exchange Note: Part or all of the above-mentioned repurchases might not be performed depending on market conditions and other factors. (For reference) Status of treasury stock as of March 31, 2025 Total number of shares issued and outstanding (excluding treasury stock) 2,075,384,328 shares Number of treasury stock 37,817,223 shares Note: The number of treasury stock includes 1,915,095 shares held through the Board Incentive Plan (BIP) Trust. ### About Mitsubishi Electric Corporation With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its "Changes for the Better." The company recorded a revenue of 5,521.7 billion yen (U.S.$ 36.8 billion*) in the fiscal year ended March 31, 2025. For more information, please visit *U.S. dollar amounts are translated from yen at the rate of ¥150=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2025 View source version on Contacts Investor Relations Inquiries Corporate IR&SR DivisionMitsubishi Electric Media Inquiries Madoka IwanagaPublic Relations DivisionMitsubishi Electric CorporationTel: + Sign in to access your portfolio
