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Nidec Announces Financial Results For Third Quarter And Nine Months Ended December 31, 2012

Stocks in this article: NJ

KYOTO, Japan, Jan. 24, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2012) and nine months (April-December 2012) of its fiscal year ending March 31, 2013.

Highlights are as follows:

  • 3Q and nine-month sales up 7.8% y/y and 1.6% y/y, respectively.
  • 3Q and nine-month operating income down 81.4% and 17.7%, respectively, mainly due to costs related to structural reform intended to overcome the market downtrend starting in the middle of 3Q.
  • EPS: 209.60 (basic)

     195.59 (diluted)

Consolidated Results of Operations (unaudited) Yen in millions (except for per share amounts and percentages)
  Nine months ended December 31 Increase (Decrease) Three months ended December 31 Increase (Decrease)
  2012 2011    2012  2011  
  (unaudited)   (unaudited)  
Net sales 523,210 514,733 1.6% 169,670 157,442 7.8%
Operating income 44,702 54,295 (17.7%) 2,517 13,528 (81.4%)
Ratio of operating income to net sales 8.5% 10.5% -- 1.5% 8.6% --
Income from continuing operations before income taxes 39,512 48,793 (19.0%) 2,473 14,206 (82.6%)
Ratio of income from continuing operations before income taxes to net sales 7.6% 9.5% -- 1.5% 9.0% --
Net income attributable to Nidec Corporation 28,216 31,654 (10.9%) 1,700 9,125 (81.4%)
Ratio of net income attributable to Nidec Corporation to net sales 5.4% 6.1% -- 1.0% 5.8% --
Net income attributable to Nidec Corporation stockholders per share-basic 209.60 229.86 -- 12.55 66.68 --
Net income attributable to Nidec Corporation stockholders per share-diluted 195.59 214.87 -- 11.63 62.30 --

Full copy of the financial statements for Nidec's 3Q and nine months ended December 31, 2012:

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