Nidec Announces the Dividend Exceeding Distributable Amount Due to Correction of Past Financial Statements
Nidec Announces the Dividend Exceeding Distributable Amount Due to Correction of Past Financial Statements
Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) (the “Nidec,” “we” or the "Company") today submitted Annual Security Report for the fiscal year ended March 31, 2026, to the Kanto Local Finance Bureau, and retrospectively restated financial statements of prior fiscal years. The Company hereby announces that, as a result of these retrospective restatements, it was discovered that the total amount of dividends of surplus paid and share repurchase conducted in prior fiscal years exceeded the distributable amount calculated in accordance with the Japanese Companies Act and the Regulation on Corporate Accounting.
We sincerely apologize for the inconvenience and concern caused to our shareholders, investors and other stakeholders.
1. Details of dividend exceeding distributable amount
The Company today submitted Annual Security Report for the fiscal year ended March 31, 2026, to the Kanto Local Finance Bureau, and retrospectively restated financial statements of prior fiscal years. Taking into account the impact of these retrospective restatements, it was discovered that the total amount of share repurchase conducted in the fiscal year ended March 31, 2022 (Totaling ¥31,413 million), and the total amount of dividends of surplus paid and share repurchase conducted in prior fiscal years – ¥94,014 million for the fiscal year ended March 31, 2023, ¥41,244 million for the fiscal year ended March 31, 2024, ¥53,793 million for the fiscal year ended March 31, 2025 and ¥22,960 million for the fiscal year ended March 31, 2026 – have exceeded the distributable amount calculated in accordance with the Japanese Companies Act and the Regulation on Corporate Accounting.
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20260930840606/en/
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