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Nidec Announces Financial Results for Fiscal Year Ended March 31, 2017

KYOTO, Japan, April 25, 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 fiscal year ended March 31, 2017.

The highlights are as follows:

  • Net sales up 1.8% Y/Y, marking Nidec’s fifth consecutive year of record sales
  • Operating profit up 19.3% Y/Y, marking the fourth consecutive year of increase following the structural reform in FY2012
  • Profit attributable to owners of the parent exceeded 100 billion yen for the first time in Nidec’s history
  • Full-year operating income ratio on Automotive, Appliance, Commercial and Industrial Products exceeded 10%, driving the company’s business portfolio transformation
  • ROE rose 2 percentage points to 13.9%.
  • EPS: 376.67 yen (basic)
    376.67 yen (diluted)
  • Year-end dividend: 45 yen per share
  • Annual dividend: 85 yen per share

Selected Consolidated Results of Operations (Unaudited)

Yen in millions, except for per share amounts and percentagesYear ended
March 31
Increase
(Decrease)
%
Three months
ended

March 31
Increase
(Decrease)
%
 2017 2016 2017 2016
Net sales1,199,311 1,178,290 1.8%331,083 282,937 17.0
Operating profit140,331 117,662 19.3%34,158 27,376 24.8
Ratio of operating profit to net sales11.7%10.0% - 10.3%9.7%-
Profit before income taxes142,278 117,164 21.4%34,531 24,697 39.8
Ratio of profit before income taxes to net sales11.9%9.9%- 10.4%8.7%-
Profit attributable to owners of the parent111,721 89,945 24.2%30,104 20,419 47.4
Ratio of profit attributable to owners of the parent to net sales 9.3%7.6%- 9.1%7.2%-
Earnings per share attributable to owners of the parent
-Basic376.67 303.04 - 101.50 68.84 -
Earnings per share attributable to owners of the parent
-Diluted376.67 301.93 - 101.50 68.84 -

Full copy of Nidec’s financial statements for the year ended March 31, 2017:
http://www.nidec.com/en-Global/ir/news/2017/news0425-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2017 is scheduled for 09:00 a.m. EDT on Wednesday, April 26, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q4/

About Nidec Corporation

Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the year ended March 31, 2017, 36.5% of its consolidated sales were represented by small precision motors; 25.9% by appliance, commercial and industrial products; 21.8% by automotive products; 10.2% by machinery; 5.3% 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