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Nidec Announces Financial Results For Fiscal Year Ended March 31, 2013

Stocks in this article: NJ

KYOTO, Japan, April 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the fiscal year ended March 31, 2013. The highlights are as follows:

  • Full-year sales up 3.9% Y/Y. Operating income down 75.9 % Y/Y, mainly due to costs related to a structural reform aimed to overcome demand declines experienced in the second half of FY2012.
  • Board decision to make three subsidiaries (Nidec Copal, Nidec Tosok and Nidec Seimitsu) wholly owned by Nidec Corp. through share exchange.
  • EPS: 59.37 (basic) 55.07 (diluted)
  • Year-end Dividend: 40 Yen per share Annual Dividend:  85 Yen per share
Selected Consolidated Results of Operations 
  Yen in millions (except for per share amounts)
  Year ended  March 31 Increase (Decrease) % Three months ended March 31 Increase (Decrease) %
  2013 2012   2013 2012  
  (unaudited)   (unaudited)  
Net sales  709,270 682,320 3.9% 186,060 167,587 11.0%
Operating income  17,627 73,070 (75.9%) (25,399) 18,775 --
Ratio of operating income to net sales  2.5% 10.7% -- (13.7%) 11.2% --
Income from continuing operations before income taxes  13,427 70,856 (81.1%) (24,409) 22,063 --
Ratio of income from continuing operations before income taxes to net sales  1.9% 10.4% -- (13.1%) 13.2% --
Income from continuing operations  6,872 52,055 (86.8%) (22,313) 15,787 --
Loss from discontinued operations -- (7,768) -- --  (6,045) --
Net income attributable to Nidec Corporation 7,998 40,731 (80.4%) (19,095) 9,077 --
Ratio of net income attributable to Nidec Corporation to net sales 1.1% 6.0% -- (10.3%) 5.4% --
Net income attributable to shareholders per share-basic 59.37 296.25 -- (141.45) 66.34 --
Net income attributable to shareholders per share-diluted  55.07 276.89 -- -- 61.98 --

Full copy of Nidec's financial statements for the year ended March 31, 2013:

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