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Investing.com -- Nidec Corporation has withdrawn its financial forecasts for both the first half and full year of fiscal 2026 and suspended shareholder returns amid apparent financial challenges.
The company announced Thursday it has revised its previously issued guidance to "undecided" for both periods. Nidec had earlier projected first-half sales of ¥1.28 trillion, operating profit of ¥120 billion, net profit of ¥92 billion and earnings per share of ¥80.26.
For the full fiscal year ending March 2026, Nidec had forecast sales of ¥2.6 trillion, operating profit of ¥260 billion, net profit of ¥200 billion and earnings per share of ¥174.47.
In addition to withdrawing its financial outlook, Nidec has canceled its planned interim dividend payment of ¥20 per share and changed the status of its planned year-end dividend of ¥22.5 per share to "undecided."
The company has also discontinued its share repurchase program that was announced on May 27. The buyback plan had authorized the repurchase of up to 13 million shares with a maximum value of ¥35 billion between May 28, 2025, and May 27, 2026. Nidec confirmed that no shares had been repurchased under this program through October 23.
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