Nidec Raises Year-End Dividend Projection for the Year Ending March 31, 2022
KYOTO, Japan, Jan. 26, 2022 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company”) today announced upward revision to its year-end dividend projection for the year ending March 31, 2022, previously announced on October 26, 2021.
The details are as follows:
Dividends per share (yen) for the year ending March 31, 2022
| Annual Dividends Per Share | |||||
| First Quarter-end | Second Quarter-end | Third Quarter-end | Fourth Quarter-end | Full Year | |
| Previous projection (as of October 26, 2021) | – | 30.00 | – | 30.00 | 60.00 |
| Revised projection | – | – | – | 35.00 | 65.00 |
| Divided paid for the year ending March 31, 2022 | – | 30.00 | – | – | – |
Dividend paid for the year ended March 31, 2021 | – | 30.00 | – | 30.00 | 60.00 |
Reasons for the revision for dividend projection
The Company upholds shareholder-oriented management and places importance on regular dividend payments, seeking to increase its dividend payout to around 30% of the consolidated net profit. Based on this policy and in view of the current financial condition, profit level, and dividend payout ratio, the Company decided to revise upward its year-end dividend projection for the year ending March 31, 2022 from 30.00 yen per share to 35.00 yen per share, making the projected aggregate annual dividend 65.00 yen per share.
Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements including expectations, estimates, projections, plans, and strategies. Such forward-looking statements are based on management’s assumptions and beliefs in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such risks and uncertainties include, but are not limited to, changes in customer circumstances and demand, exchange rate fluctuations, and the Nidec Group’s ability to design, develop, mass produce and win acceptance of its products and to acquire and successfully integrate companies with complementary technologies and product lines. Please see other disclosure documents filed or published by the Nidec Group companies, including the Japanese security report, for additional information regarding such risks and uncertainties. Nidec undertakes no obligation to update the forward-looking statements unless required by law.
| Contact: | |
| Masahiro Nagayasu | |
| General Manager | |
| Investor Relations | |
| +81-75-935-6140 | |
| ir@nidec.com | |
