Interim dividends and the Company's share repurchase for the previous fiscal year were in excess of the distributable amount

Nidec Corporation (TSE: 6594) (OTC US: NJDCY) (the “Nidec” or the "Company") resolved at a meeting of its Board of Directors held on October 24, 2022 to pay an interim dividend of 35 yen per share (the "Interim Dividend"). In the course of a careful examination of the distributable amount for the fiscal year ended March 31, 2023, it was discovered that the Interim Dividend exceeded the distributable amount calculated in accordance with the Japanese Companies Act and the Regulation on Corporate Accounting.