This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Nidec Revises First-Half And Full-Year FY2013 Guidance Upward

Stocks in this article: NJ

KYOTO, Japan, July 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced an upward revision of its consolidated financial forecasts (announced on April 23, 2013) for the year ending March 31, 2014 as follows.

1. Revised consolidated financial forecasts (U.S. GAAP) for the six months ending September 30, 2013

From April 1, 2013 to September 30, 2013 (Millions of yen, except per share amounts and percentages) 

  For the six months ending September 30, 2013  
  Previous forecast (April 23, 2013) Revised Forecast Change (amount) Change (percent) (Reference)  For the six months ended September  30, 2012
Net sales 380,000 400,000 20,000 5.3% 353,540
Operating income 30,000 35,000 5,000 16.7% 41,723
Income before income taxes 29,000 34,000 5,000 17.2% 36,577
Net income attributable to Nidec Corporation 21,000 24,500 3,500 16.7% 26,199
Net income attributable to Nidec Corporation per share-basic 155.92 182.59 -- -- 195.28

2. Revised consolidated financial forecasts (U.S. GAAP) for the year ending March 31, 2014

From April 1, 2013 to March 31, 2014 (Millions of yen, except per share amounts and percentages) 

  For the year ending March 31, 2014  
  Previous forecast (April 23, 2013) Revised Forecast Change (amount) Change (percent) (Reference)  For the year ended  March 31, 2013
Net sales 800,000 820,000 20,000 2.5 % 709,270
Operating income 70,000 75,000 5,000 7.1 % 17,627
Income before income taxes 68,000 73,000 5,000 7.4 % 13,427
Net income attributable to Nidec Corporation 50,000 53,500 3,500 7.0 % 7,998
Net income attributable to Nidec Corporation per share-basic 371.25 398.72 -- -- 59.37

2. Reasons for the revision

Net sales and operating and net income for the three months ended June 30, 2013 exceeded our expectations at the beginning of the period. Therefore, we have decided to revise upward our previously announced financial performance forecasts, in most part, to the extent that our net sales and operating and net income for the three months ended June 30, 2013 exceeded our expectations at the beginning of the period. Accordingly, we have revised upward our previously announced financial performance forecasts for the six months ending September 30, 2013 and the fiscal year ending March 31, 2014.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,792.23 +114.33 0.69%
S&P 500 1,960.42 +9.60 0.49%
NASDAQ 4,470.0750 +17.2830 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs