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

Nidec Corporation

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,
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:

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:

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

Source:Nidec Corporation