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Nidec Revises Upward Financial Forecast For Fiscal Year Ending March 31, 2014

Stocks in this article: NJ

KYOTO, Japan, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced that the Company has revised its consolidated financial forecast for the year ending March 31, 2014, previously announced on July 23, 2013.

The details are as follows.

1.   Revision to Financial Forecast for Fiscal Year Ending March 31, 2014 (U.S. GAAP)

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 (announced on July 23,  2013) Revised Forecast Change (amount) Change (%) (Reference) For the year ended March 31, 2013
Net sales  820,000  850,000  30,000  3.7  709,270
Operating income  75,000  80,000  5,000  6.7  17,598
Income before income taxes   73,000  78,000  5,000  6.8  13,398
Net income attributable to the Company   53,500  55,000  1,500  2.8  7,986
Net income Attributable to Nidec Corporation per share-basic   398.72  404.26  --   --   59.28

2. Reasons for Revision

The upward revision is intended to reflect the increase in the Company's sales and profits for the six-month ended September 30, 2013, which exceeded the previously announced financial guidance.

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