Nidec Announces Glass Lewis’s Report Recommending Votes in Favor of All Company Proposals at Nidec’s 53rd Regular General Meeting of Shareholders

KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company” or “we”) hereby announces that Glass Lewis & Co., LLC (“Glass Lewis”), a leading proxy advisory firm, has issued a report recommending that shareholders vote “FOR” all proposals to be entered at the Company’s upcoming 53rd Regular General Meeting of Shareholders scheduled for June 18, 2026.

The proposals:

1. Partial Amendments to the Articles of Incorporation
2. Election of eight Members of the Board of Directors who are not Audit and Supervisory Committee Members
3. Election of four Members of the Board of Directors who are Audit and Supervisory Committee Members
4. Revision of amount of remuneration, etc. for Members of the Board of Directors who are not Audit and Supervisory Committee Members
5. Revision of amount of remuneration, etc. for Members of the Board of Directors who are Audit and Supervisory Committee Members

The Company believes that Glass Lewis’s recommendation to vote in favor of all proposals demonstrates their understanding of our revitalization initiatives, as well as the proposals to be resolved at this Regular General Meeting of Shareholders, including the new Board of Directors structure that will serve as the foundation for the future progress of these efforts.

The Company understands that, despite the fact that the proposed composition of the Board of Directors does not fully satisfy certain criteria in Glass Lewis’s Benchmark Policy, Glass Lewis granted its favorable recommendation after taking into high consideration that reinforcing its governance framework and restoring the trust of the shareholders are the utmost priorities. Furthermore, the Glass Lewis report notes that “Investors will likely continue to closely monitor whether the restructured board can effectively strengthen accountability, improve transparency, and rebuild confidence in the Company’s governance framework over the medium to long term.”

To satisfy the expectations of our shareholders, investors, and all other stakeholders, we are fully committed to implement reforms in both our governance framework and corporate culture under the new Board of Directors structure. The Company, including all the management and employees, will work as one to exert every effort to restore trust at the earliest possible date.

The Company respectfully requests that shareholders review the Notice of the 53rd Regular General Meeting of Shareholders and support the proposals for Nidec’s revitalization. The Company would sincerely appreciate the understanding and support of its shareholders. The Notice of the 53rd Regular General Meeting of Shareholders is available at: https://www.nidec.com/files/user/www-nidec-com/ir/event/meeting/img/53_all_en.pdf

For additional information regarding the Company’s revitalization initiatives, please visit the dedicated section on the official website: https://www.nidec.com/en/corporate/disclosure/