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Nidec Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2015

KYOTO, Japan, Jan. 21, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2015) and nine months (April-December 2015).

Highlights are as follows:

  • Record-high nine-month net sales, operating income, income before taxes and net income of 895.4 billion yen, 94.0 billion yen and 94.4 billion yen, 70.9 billion yen, respectively
  • Net sales and operating income increased for eight and eleven consecutive quarters, respectively, marking the highest-ever levels.
  • Cash and cash equivalents exceeded interest-bearing debt for the first time in 23 quarters, which was achieved three month ahead of plan. Financial base and financial discipline were strengthened eyeing Vision 2020.
  • Basic EPS: 238.91 yen
  • Diluted EPS: 238.90 yen

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)
%
2015 2014 2015 2014
(unaudited) (unaudited)
Net sales 895,353 753,766 18.8% 308,001 264,255 16.6%
Operating income 93,990 80,727 16.4% 32,160 28,804 11.7%
Ratio of operating income to net sales 10.5% 10.7% - 10.4% 10.9% -
Income before taxes 94,357 81,309 16.0% 30,968 29,771 4.0%
Ratio of income before income taxes to net sales 10.5% 10.8% - 10.1% 11.3% -
Net income attributable to Nidec Corporation 70,928 58,031 22.2% 23,320 21,318 9.4%
Ratio of net income attributable to Nidec Corporation to net sales 7.9% 7.7% - 7.6% 8.1% -
Net income attributable to Nidec Corporation per share-basic 238.91 209.27 - 78.22 76.05 -
Net income attributable to Nidec Corporation per share-diluted 238.90 196.36 - 78.22 71.42 -

Full copy of the financial statements for 3Q and nine months ended December 31, 2015:
http://www.nidec.com/en-Global/ir/news/2016/news0121-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for 3Q and nine months ended December 31, 2015 is scheduled for 09:00 a.m. EST on Thursday, January 21, 2016. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY15Q3/

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, 2015, 39.3% of its consolidated sales were represented by small precision motors; 23.2% by appliance, commercial and industrial products; 22.7% by automotive products; 8.8% by machinery; 5.5% by electronic and optical components, and 0.4% by the remaining product lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.

Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 ir@nidec.com

Source:Nidec Corporation