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)
|Three months ended|
|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:
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:
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 firstname.lastname@example.org