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Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2016

KYOTO, Japan, July 22, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (OTC US:NJDCY) (TSE:6594) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2016.

The highlights are as follows:

  • Transition to the International Financial Reporting Standards (“IFRS”) from U.S. GAAP.
  • Operating profit increased 5.6% Y/Y, marking quarterly record high despite a 3.1% decline in net sales Y/Y.
  • Continued improvement in operating profit ratio of automotive, appliance, commercial and industrial products which are the key drivers of the company’s business portfolio transformation.
  • EPS: 74.31 (basic)
    74.31 (diluted)

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions except for per share amounts and percentagesThree months ended
June 30
Change
%
2016 2015
Net sales 276,206 285,041 -3.1
Operating profit 31,540 29,859 5.6
Ratio of operating profit to net sales 11.4% 10.5%-
Profit before income taxes 29,103 31,591 -7.9
Ratio of operating profit to net sales 10.5% 11.1%-
Profit attributable to owners of the parent 22,041 23,251 -5.2
Ratio of profit attributable to owners of the parent to net sales 8.0% 8.2%-
Earnings per share attributable to owners of the parent (basic) 74.31 78.79 -
Earnings per share attributable to owners of the parent (diluted) 74.31 77.96 -

Note to the consolidated results of operations:
Nidec Corporation has adopted IFRS from the three-month period ended June 30, 2016. The financial data for the three-month period ended June 30, 2015 is also presented based on IFRS. For the differences between IFRS and United States Generally Accepted Account Principles (U.S. GAAP) in respect of the Nidec Corporation’s financial data, please refer to the full copy of the consolidated financial statements; http://www.nidec.com/en-Global/ir/news/2016/news0722-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2016 is scheduled for 09:00 a.m. EDT on Friday, July 22, 2016. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q1/

About Nidec Corporation

Nidec Corporation (OTC US:NJDCY) (TSE:6594) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2016, 34.3% of its consolidated sales were represented by small precision motors; 26.9% by appliance, commercial and industrial products; 23.2% by automotive products; 9.8% by machinery; 5.5% by electronic and optical components, and 0.3% 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

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