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Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2016

KYOTO, Japan, Jan. 24, 2017 (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 December 31, 2016.

The highlights are as follows:

  • Record-high nine months operating profit, profit before income taxes and profit attributable to owners of the parent
  • Record-high three months profit before income taxes and profit attributable to owners of the parent
  • Double-digit operating profit ratio maintained for both three and nine month periods (10.5%) in Automotive, Appliance, Commercial and Industrial Products, which are key drivers of the company’s business portfolio transformation
  • Revision to FY2016 forecasts
  • EPS: 275.25 yen (basic)
    275.25 yen (diluted)

Selected Consolidated Results of Operations (Unaudited)

Yen in millions, except for per share amounts and percentagesNine months ended
December 31,
Increase
(Decrease)
%
Three months ended
December 31,
Increase
(Decrease)
%
 2016 2015 2016 2015
Net sales868,228 895,353 (3.0)%304,198 308,001 (1.2)%
Operating profit106,197 90,286 17.6%37,193 30,683 21.2%
Ratio of operating profit to net sales12.2%10.1%- 12.2%10.0% -
Profit before income taxes107,771 92,467 16.6%41,478 30,320 36.8%
Ratio of profit before income taxes to net sales12.4%10.3%- 13.6%9.8% -
Profit attributable to owners of the parent81,638 69,526 17.4%31,528 22,669 39.1%
Ratio of profit attributable to owners of the parent to net sales9.4%7.8%- 10.4%7.4% -
Earnings per share attributable to owners of the parent
-Basic
275.25 234.19 - 106.30 76.04 -
Earnings per share attributable to owners of the parent
-Diluted
275.25 233.05 - 106.30 76.04 -

Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2016:
http://www.nidec.com/en-Global/ir/news/2017/news0124-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2016 is scheduled for 09:00 a.m. EST on Tuesday, January 24, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q3/

About Nidec Corporation

Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the nine months ended December 31, 2016, 38.1% of its consolidated sales were represented by small precision motors; 24.2% by appliance, commercial and industrial products; 22.0% by automotive products; 10.0% by machinery; 5.5% by electronic and optical components, and 0.3% by the remaining product 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