Nidec Board Authorizes Share Repurchase Plan

(Repurchases of Shares Pursuant to Item 1 of Article 459 (1) of the Companies Act of Japan)

Nidec Corporation 6594NJDCY (the "Company") announces today that its Board of Directors has authorized a new share repurchase plan at a meeting held on January 24, 2023, whereby the Company may repurchase up to 5 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

This authorization is intended to enable agile capital management highly responsive to the changing business environment.

Details of Authorized Share Repurchase Plan

1. Class of shares: Common stock
2. Total number of shares that may be repurchased: Up to 5,000,000 shares
   (0.87% of total number of shares issued, excluding treasury stock)
3. Total repurchasable amount: 35 billion yen
4. Period of repurchase: From January 25, 2023 through January 24, 2024

Reference

Total number of shares issued and outstanding shares held in treasury as of December 31, 2022:

• Total number of shares issued (excluding shares held in treasury): 574,760,302 shares
• Shares held in treasury: 21,524,166 shares

Cautionary Statement Concerning Forward-Looking Information