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Nidec Revises Upward Consolidated Fiscal First-Half And Year-End Financial Forecasts And Dividend Projections For The Year Ending March 31, 2015

Stocks in this article: NJ

KYOTO, Japan, July 23, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced an upward revision to its U.S. GAAP-based consolidated fiscal first-half and year-end financial forecasts and dividend projections for the year ending March 31, 2015, originally announced on April 22, 2014.

Revised consolidated financial forecasts (U.S. GAAP) for the six months ending September 30, 2014

From April 1, 2014 to September 30, 2014 (Millions of yen, except for per share amounts and percentages)
  For the six months ending September 30, 2014  
  Previous forecast (April 22, 2014) Revised Forecast Change (amount) Change (percent) (Reference)  For the six months ended September 30, 2013
Net sales 450,000 460,000 10,000 2.2% 429,634
Operating income 45,000 50,000 5,000 11.1% 39,337
Income before taxes 44,000 49,000 5,000 11.4% 38,441
Net income attributable to Nidec Corporation 29,500 33,500 4,000 13.6% 27,103
Net income attributable to Nidec Corporation per share-basic* 106.96 121.46 -- -- 100.99

Revised consolidated financial forecasts (U.S. GAAP) for the year ending March 31, 2015

From April 1, 2014 to March 31, 2015 (Millions of yen, except for per share amounts and percentages)
  For the year ending March 31, 2015  
  Previous forecast (April 22, 2014) Revised Forecast Change (amount) Change (percent) (Reference)  For the year ended  March 31, 2014
Net sales 950,000 960,000 10,000 1.1 % 875,109
Operating income 100,000 105,000 5,000 5.0 % 85,068
Income before taxes 98,000 103,000 5,000 5.1 % 84,664
Net income attributable to Nidec Corporation 65,000 69,000 4,000 6.2 % 56,404
Net income attributable to Nidec Corporation per share-basic* 235.67 250.18 -- -- 207.31

* The Company implemented a two-for-one stock split of its common stock effective April 1, 2014. The previously reported net income attributable to Nidec Corporation per share-basic has been retroactively adjusted to reflect the stock split.

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