Nidec Announces Financial Results for Fiscal Year Ended March 31, 2016

KYOTO, Japan, April 25, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the fiscal year ended March 31, 2016. The highlights are as follows:

  • Record-high full-year net sales for four consecutive years.
  • Operating income, income before tax and net income increased for three consecutive years, following the structural reform in FY2012.
  • Operating income ratio on automotive, appliance, commercial and industrial products exceeded 10% in the three-month period ended March 31, 2016, driving the company’s business portfolio transformation.
  • Cash and cash equivalents exceeded interest-bearing debt for the first time in six years, resulting in approx. 5.2 billion yen net cash at end-March 2016. Cash conversion cycle shortened by 7 days to 66 days, and working capital saved by 11.2 billion yen compared to the same time of the previous year.
  • EPS (diluted): 308.19 yen
  • Year-end dividend: 40 yen per share (Annual dividend: 80 yen per share)

Consolidated Results of Operations (unaudited)

Yen in millions (except for per share amounts and percentages)
Year ended
March 31
Increase (Decrease)
%
Three months ended
March 31
Increase (Decrease)
%
2016 2015 2016 2015
(unaudited) (unaudited)
Net sales 1,178,290 1,028,385 14.6 282,937 274,619 3.0
Operating income 124,538 110,939 12.3 30,548 30,212 1.1
Ratio of operating income to net sales 10.6% 10.8%- 10.8% 11.0%-
Income before income taxes 119,328 107,092 11.4 24,971 25,783 -3.1
Ratio of income from continuing operations before income taxes to net sales 10.1% 10.4%- 8.8% 9.4%-
Net income attributable to Nidec Corporation 91,810 76,015 20.8 20,882 17,984 16.1
Ratio of net income attributable to Nidec Corporation to net sales 7.8% 7.4%- 7.4% 6.5%-
Net income attributable to Nidec Corporation stockholders per share-basic 309.32 271.61 - 70.41 62.54 -
Net income attributable to Nidec Corporation stockholders per share-diluted 308.19 256.05 - 70.41 59.78 -


Full copy of Nidec’s financial statements for the year ended March 31, 2016:
http://www.nidec.com/en-Global/ir/news/2016/news0425-01/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2016 is scheduled for 09:00 a.m. EDT on Tuesday, April 26, 2016. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY15Q4/

About Nidec Corporation
Nidec Corporation (NYSE: NJ; Tokyo: 6594) is a global leader in electric motor drive technology. For the year ended March 31, 2016, 38.0% of its consolidated sales were represented by small precision motors; 24.1% by appliance, commercial and industrial products; 23.0% by automotive products; 9.0% by machinery; 5.4% by electronic and optical components, and 0.4% by the remaining products 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