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Nidec Revises Consolidated Financial Forecast And Year-End Dividend Projection For The Year Ending March 31, 2014

Stocks in this article: NJ

KYOTO, Japan, Jan. 22, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced an upward revision to its U.S. GAAP-based consolidated full-year financial forecast and year-end dividend projection for the year ending March 31, 2014, announced on October 22, 2013.

The details are as follows.

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

From April 1, 2013 to March 31, 2014 (Millions of yen, except for per share amounts and percentages)
  For the year ending March 31, 2014  
  Previous Forecast (announced on October 22, 2013) Revised Forecast Change (amount) Change (%) (Reference)  For the year ended  March 31, 2013
Net sales 850,000 880,000 30,000 3.5 709,270
Operating income 80,000 85,000 5,000 6.3 17,598
Income before income taxes 78,000 83,000 5,000 6.4 13,398
Net income attributable to Nidec Corporation 55,000 56,000 1,000 1.8 7,986
Net income Attributable to Nidec Corporation per share (basic) 404.26 411.65 -- -- 59.28

Reasons for Revision

The upward revision is intended to reflect the Company's record consolidated sales and resulting profit increases for the nine months ended December 31, 2013, which exceeded the previously announced financial guidance.

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