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Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2014

KYOTO, Japan, Oct. 22, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2014 through September 30, 2014.

The highlights are as follows:

  • Record-high first half-year net sales of 489.5 billion yen
  • Operating income up 34% Y/Y to 52.7 billion yen, marking six consecutive quarters of increase with the V-shaped recovery momentum sustained since the structural reform in FY2012
  • Record-high first half-year income before income taxes and net income
  • Diluted EPS: 126.53 yen (for the six months ended September 30, 2014)
  • Interim dividend: 30 yen per share
  • Projected annual dividend: 60 yen per share

Selected Consolidated Results of Operations (Unaudited)

Yen in millions, except for per share amounts and percentages Six months ended
September 30,
Increase
(Decrease)
Three months ended
September 30,
Increase
(Decrease)
% %
2014 2013   2014 2013  
Net sales 489,511 429,634 13.9% 249,323 218,358 14.2%
Operating income 52,676 39,337 33.9% 27,124 21,290 27.4%
Ratio of operating income to net sales 10.8% 9.2%  -- 10.9% 9.8%  --
Income before income taxes 52,291 38,441 36.0% 27,320 21,075 29.6%
Ratio of income before income taxes to net sales 10.7% 8.9% -- 11.0% 9.7%  --
Net income attributable to Nidec Corporation 37,209 27,103 37.3% 19,292 13,757 40.2%
Ratio of net income attributable to Nidec Corporation to net sales 7.6% 6.3% -- 7.7% 6.3%  --
Net income attributable to Nidec Corporation per share-basic* 134.91 100.99 -- 69.95 51.26  --
Net income attributable to Nidec Corporation per share-diluted* 126.53 94.27 -- 65.61 47.85  --
*We implemented a two-for-one stock split of our 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 second quarter and six months ended September 30, 2014: http://www.nidec.com/en-Global/ir/news/2014/news1022-01/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the second quarter ended September 30, 2014 is scheduled for 09:00 a.m. EDT on Thursday, October 23, 2014. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY14Q2/

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the six months ended September 30, 2014, 38.9% of its consolidated sales were represented by small precision motors; 25.6% by appliance, commercial and industrial products; 19.0% by automotive products; 9.2% by machinery; 6.6% 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

Source:Nidec Corporation