Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2013

Nidec Corporation

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

Source:Nidec Corporation