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March 8, 2014
18:28 EDTNJNidec announces outlines of planned stock split, modifies repurchase program
Nidec Corporation announced that the Board of Directors of the company, at a meeting held on March 8, 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, which was adopted at the meeting of the Board of Directors on January 22. The company has decided to implement the 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. 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 will be split into two shares. The company also announced a modification to the share repurchase program to up to 4M shares from up to 2M shares. Additionally, the company announced an adjustment of conversion price of the convertible bonds due 2015.
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