Nidec Announces Financial Results For Fiscal First Quarter Ended June 30, 2014

KYOTO, Japan, July 23, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2014 through June 30, 2014.

The highlights are as follows:
  • Net sales up 13.7% Y/Y to a quarterly record-high of JPY 240.2 billion.
  • Operating income up 41.6% Y/Y to JPY 25.6 billion, marking five consecutive quarters of increased operating income since the structural reform in FY2012
  • Upward revision to the 1H and full-year financial performance forecasts and dividend projections
  • EPS: 64.96 yen (basic)          60.93 yen (diluted)
Selected Consolidated Results of Operations (Unaudited)  Yen in millions (except for per share amounts and percentages)
       
  Three months ended June 30, Increase (Decrease) % (Reference) Three months ended March 31, 2014
  2014 2013    
Net sales  240,188 211,276 13.7% 228,384
Operating income  25,552 18,047 41.6% 23,202
Ratio of operating income to net sales  10.6% 8.5%  - 10.2%
Income before taxes  24,971 17,366 43.8% 22,139
Ratio of income before taxes to net sales  10.4% 8.2% - 9.7%
Net income attributable to Nidec Corporation  17,917 13,346 34.2% 13,351
Ratio of net income attributable to Nidec Corporation to net sales 7.5% 6.3%      - 5.8%
Net income attributable to shareholders per share-basic* 64.96 49.73  - 48.41
Net income attributable to shareholders per share-diluted*   60.93 46.42 - 45.39

* 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 and net income attributable to Nidec Corporation per share-diluted have been retroactively adjusted to reflect the stock split.

Full copy of Nidec's financial statements for the first quarter ended June 30, 2014: http://www.nidec.com/en-Global/ir/news/2014/news0723-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the first quarter ended June 30, 2014 is scheduled for 09:00 a.m. EDT on Wednesday, July 23, 2014. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY14Q1/

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2014, 37.4% of its consolidated sales were represented by small precision motors; 26.4% by appliance, commercial and industrial products; 19.5% by automotive products; 9.3% by machinery; 6.7% by electronic and optical components, and 0.7% by the remaining product lines. 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

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