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Nidec Announces Financial Results For Fiscal Six Months Ended September 30, 2010

KYOTO, Japan, Oct. 26, 2010 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the fiscal six months ended September 30, 2010.

The highlights are as follows:
  • Record six-month operating income of 51.5bn yen.                                                                           
  • Financial base for mid-term growth bolstered by a 100bn Euro Yen CB issue.
  • Full-year sales guidance revised upward, reflecting the acquisition of Emerson's Motors & Controls business.
  • Diluted EPS for the six months ended September 30, 2010: 193.22 yen
Selected Consolidated Results of Operations             
  Yen in millions (except for per share amounts)
  Six months ended  Increase Three months ended Increase
   September 30,  (Decrease) September 30,  (Decrease)
  2010 2009 % 2010 2009  %
  (unaudited)   (unaudited)  
Net sales  340,791 268,743 26.8% 169,991 145,257 17.0%
Operating income  51,522 28,321 81.9% 24,519 18,037 35.9%
Ratio of operating income to net sales  15.1% 10.5% -- 14.4% 12.4% --
Income from continuing operations before income taxes  41,293 22,474 83.7% 20,321 13,724 48.1%
Ratio of income from continuing operations before income taxes to net sales  12.1% 8.4% -- 12.0% 9.4% --
Net income attributable to Nidec Corporation  27,014 13,788 95.9% 13,231 7,969 66.0%
Ratio of net income attributable to Nidec Corporation to net sales  7.9% 5.1% -- 7.8% 5.5% --
Net income attributable to shareholders per share-basic  193.94 98.99 -- 95.00 57.21 --
Net income attributable to shareholders per share-diluted  193.22 -- -- 94.29 -- --

Full copy of the financial statements for Nidec's fiscal six months ended September 30, 2010:

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the fiscal six months ended September 30, 2010 is scheduled for 09:00 a.m. EDT on Wednesday, October 27, 2010. To listen to the webcast, please visit Nidec website at:  

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