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TheStreet Open House

Nidec Announces Financial Results For Fiscal Second Quarter Ended September 30, 2012

Stocks in this article: NJ

KYOTO, Japan, Oct. 24, 2012 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2012 through September 30, 2012.

The highlights are as follows:

  • Six-month operating income up 5% y/y, with margin ratio edging up 0.7 points to 12.1%, while sales down 1.0% y/y.
  • Three out of six previously announced acquisitions completed to lay the groundwork for a new phase of global growth.
  • Diluted EPS: 187.29 yen (for the six months ended September 30, 2012)
  • Interim dividend: 45 yen per share Projected annual dividend: 95 yen per share
Selected Consolidated Results of Operations
  (Yen in millions, except for per share amounts and percentages)
  Six months    Three months   
  Ended Increase Ended Increase
   September 30, (Decrease) September 30, (Decrease)
      %     %
  2012 2011   2012 2011  
  (unaudited)   (unaudited)  
Net sales  353,540 357,291 (1.0%) 174,519 180,657 (3.4%)
Operating income  42,816 40,767 5.0% 20,314 20,920 (2.9%)
Ratio of operating income to net sales  12.1% 11.4%   11.6% 11.6%  
Income from continuing operations before income taxes 37,670 34,587 8.9% 19,017 16,327 16.5%
Ratio of income from continuing operations before income taxes to net sales  10.7% 9.7% -- 10.9% 9.0% --
Income from continuing operations   28,878  26,316 9.7% 14,795 12,336 19.9%
Loss from discontinued operations   --   (1,362) -- --      (686) --
Net income attributable to Nidec Corporation   26,920  22,529 19.5% 13,434 10,319 30.2%
Ratio of net income attributable to Nidec Corporation to net sales 7.6% 6.3% -- 7.7% 5.7% --
Net income attributable to shareholders per share-basic  200.66 163.08 -- 101.17 74.86 --
Net income attributable to shareholders per share-diluted  187.29 152.49 -- 94.37 69.98 --

Full copy of Nidec's financial statements for the second quarter ended September 30, 2012:

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