Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2016

KYOTO, Japan, Oct. 24, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE:6594) (OTC US:NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2016 through September 30, 2016.

The highlights are as follows:

  • Record-high three and six months operating profit, profit before income taxes and profit attributable to owners of the parent
  • Continued improvement in operating profit ratio of Automotive, Appliance, Commercial and Industrial Products as a result of improved cost and product mix
  • Upward revision to the full-year profit forecasts and dividend projections
  • EPS: 168.95 yen (basic)
    168.95 yen (diluted)

Selected Consolidated Results of Operations (Unaudited)

Yen in millions, except for per share amounts and percentagesSix months ended
September 30,
Increase
(Decrease)
%
Three months ended
September 30,
Increase
(Decrease)
%
  2016 2015 2016 2015
Net sales 564,030 587,352 (4.0)% 287,824 302,311 (4.8)%
Operating profit 69,004 59,603 15.8% 37,464 29,744 26.0%
Ratio of operating profit to net sales 12.2% 10.1% - 13.0% 9.8% -
Profit before income taxes 66,293 62,147 6.7% 37,190 30,556 21.7%
Ratio of profit before income taxes to net sales 11.8% 10.6% - 12.9% 10.1% -
Profit attributable to owners of the parent 50,110 46,857 6.9% 28,069 23,606 18.9%
Ratio of profit attributable to owners of the parent to net sales 8.9% 8.0% - 9.7% 7.8% -
Earnings per share attributable to owners of the parent
-Basic
168.95 158.17 - 94.64 79.38 -
Earnings per share attributable to owners of the parent
-Diluted
168.95 157.10 - 94.64 79.13 -

Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2016:
http://www.nidec.com/en-Global/ir/news/2016/news1024-01/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2016 is scheduled for 09:00 a.m. EDT on Tuesday, October 25, 2016. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q2/

About Nidec Corporation

Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2016, 37.5% of its consolidated sales were represented by small precision motors; 25.1% by appliance, commercial and industrial products; 22.0% by automotive products; 9.6% 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