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Nidec Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2014

KYOTO, Japan, Jan. 22, 2015 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2014) and nine months (April-December 2014).

Highlights are as follows:

  • Record-high nine-month net sales, operating income and income before taxes of 753.8 billion yen, 80.7 billion yen and 81.3 billion yen, respectively
  • Record-high three-month net sales, operating income and income before taxes of 264.3 billion yen, 28.8 billion yen and 29.8 billion yen, respectively
  • Nine-month operating income up 30.5% Y/Y to 80.7 billion yen, marking seven consecutive quarters of operating income increase
  • Upward revision to the company's financial forecast and dividend target for the fiscal year ending March 31, 2015
  • Diluted EPS: 196.36

Consolidated Results of Operations (unaudited)
Yen in millions (except for per share amounts and percentages)
Nine months ended
December 31
Increase
(Decrease)
Three months ended
December 31
Increase
(Decrease)
% %
2014 2013   2014 2013  
(unaudited) (unaudited)
Net sales 753,766 646,725 16.6% 264,255 217,091 21.7%
Operating income 80,727 61,866 30.5% 28,804 22,529 27.9%
Ratio of operating income to net sales 10.7% 9.6% -- 10.9% 10.4% --
Income before taxes 81,309 62,525 30.0% 29,771 24,084 23.6%
Ratio of income before income taxes to net sales 10.8% 9.7% -- 11.3% 11.1% --
Net income attributable to Nidec Corporation 58,031 43,053 34.8% 21,318 15,950 33.7%
Ratio of net income attributable to Nidec Corporation to net sales 7.7% 6.7% -- 8.1% 7.3% --
Net income attributable to Nidec Corporation per share-basic 209.27 158.96 -- 76.05 57.84 --
Net income attributable to Nidec Corporation per share-diluted 196.36 148.61 -- 71.42 54.24 --

Full copy of the financial statements for 3Q and nine months ended December 31, 2014:

http://www.nidec.com/en-Global/ir/news/2015/news0122-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for 3Q and nine months ended December 31, 2014 is scheduled for 09:00 a.m. EST on Thursday, January 22, 2015. To listen to the webcast, please visit Nidec website at:

http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY14Q3/

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the nine months ended December 31, 2014, 39.1% of its consolidated sales were represented by small precision motors; 25.4% by appliance, commercial and industrial products; 18.8% by automotive products; 6.5% by electronic and optical components; 9.4% by machinery, 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