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Nidec To Reorganize Group Companies Through Disposal Of Treasury Stock By Sale, Share Exchange Transaction By A Subsidiary, And Mergers Of Subsidiaries By Absorption

5. Expected Impact on Financial Results

The planned disposal of treasury stock by sale is not expected to have a significant impact on Nidec's results of operations for the fiscal year ending March 31, 2011 either on a consolidated basis or on a non-consolidated basis. The Share Exchange Transaction, the First Merger Transaction and the Second Merger Transaction are not expected to have a significant impact on Nidec's consolidated results of operations for the fiscal year ending March 31, 2011.

6. Financial Results and Equity Finance for the Most Recent Three Fiscal Years

(1) Financial Results for the Most Recent Three Fiscal Years (consolidated, in millions of yen)

Fiscal year Ended March 31, 2008 Ended March 31, 2009 Ended March 31, 2010
Net assets 387,770 357,687 401,531
Total assets 671,714 702,884 692,791
Net assets per share (yen) 2,204.94 2,133.27 2,443.16
Net sales 724,361 610,803 587,459
Operating income 77,397 52,015 78,342
Ordinary profit -- -- --
Net income 41,156 28,353 51,961
Net income per share (yen) 284.00 197.42 373.04
Annual dividend per share (yen) 55 60 65
(Note)   Nidec prepares its financial statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), as follows:
  -- "Net assets" represents the sum of "shareholders' equity" and "noncontrolling interests."
  -- "Net assets per share" represents "shareholders' equity per share."
  -- "Ordinary profit" is omitted because there is no corresponding item under U.S. GAAP.
  -- "Net income" and "net income per share" represent "net income attributable to Nidec" and "net income attributable to Nidec per share," respectively.
  -- Pursuant to FASB Accounting Statements Codification (ASC) 205-20, "Presentation of Financial Statements-Discontinued Operations" (formerly SFAS No. 144, "Accounting for the impairment or disposal of Long-Lived Assets."), results of discontinued operations have been reclassified retrospectively in Nidec's consolidated financial data.

(2) Numbers of Issued Shares and Residual Securities (as of September 30, 2010)

  Number of shares Ratio to number of issued shares
Number of issued shares 145,075,080 100%
Number of shares issuable upon conversion or exercise of residual securities at present convertible price (exercise price) 9,410,878 6.5%

(3) Recent Stock Price Performance

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