Nidec Announces Financial Results For Fiscal Second Quarter And Six Months Ended September 30, 2013

KYOTO, Japan, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2013 through September 30, 2013.

The highlights are as follows:  
  • Six-month sales up 21.5% y/y to a record high of JPY 429.6 billion.
  • Six-month operating income down 5.7% y/y, but significantly surpassed the previously announced earnings guidance.   
  • Upward revision to FY2013 financial forecast and dividend outlook    
  • 1H FY2013 diluted EPS: 188.53 yen
  • 1H FY2013 dividend: 45 yen per share
Selected Consolidated Results of Operations            
  (Yen in millions, except for per share amounts and percentages)
             
  Six months Ended  September 30,  Increase (Decrease) % Three months  Ended September 30, Increase(Decrease) %
  2013 2012   2013 2012  
  (Unaudited)   (Unaudited)  
Net sales  429,634 353,540 21.5% 218,358 174,519 25.1%
Operating income  39,337 41,723 (5.7%) 21,290 19,540 9.0%
Ratio of operating income to net sales  9.2% 11.8%   9.8% 11.2% -- 
Income before income taxes 38,441 36,577 5.1% 21,075 18,243 15.5%
Ratio of income before income taxes to net sales  8.9% 10.3% -- 9.7% 10.5% -- 
Net income attributable to Nidec Corporation  27,103 26,199 3.5% 13,757 12,917 6.5%
Ratio of net income attributable to Nidec Corporation to net sales  6.3% 7.4% -- 6.3% 7.4% -- 
Net income attributable to shareholders per share-basic  201.99 195.28 -- 102.53 97.28 -- 
Net income attributable to shareholders per share-diluted  188.53 182.27 -- 95.70 90.74 -- 

Full copy of Nidec's financial statements for the second quarter and six months ended September 30, 2013:

http://www.nidec.com/en-Global/ir/news/2013/news1022-01

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the second quarter and six months ended September 30, 2013 is scheduled for 09:00 a.m. EDT (14:00 p.m. BST) on Wednesday, October 23, 2013.

To listen to the webcast, please visit Nidec website at:

http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY13Q2/

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric motor drive solutions. For the six months ended September 30, 2013, 42% of the company's consolidated sales were represented by small precision motors, 38.2% by automotive, home appliance, commercial and industrial products. Electronic and optical components, machinery and other products comprised the remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
CONTACT: Masahiro Nagayasu         General Manager         Investor Relations         +81-75-935-6140         ir@nidec.com

Nidec Corporation

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX