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Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2017

KYOTO, Japan, July 26, 2017 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE:6594) (OTC US:NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2017.

The highlights are as follows:

  • Upward revision to the first half and full-year FY2017 financial performance forecasts.
  • Quarterly net sales and operating profit increased 24% Y/Y to record highs of ¥343.1 billion and ¥39.0 billion, respectively.
  • Quarterly operating profit ratios for Small Precision Motors, Machinery, Electronic & Optical Components and Other Products surpassed 15%, the minimum target for FY2020.
  • Profit attributable to owners of the parent improved by 28% Y/Y to ¥28.2 billion.
  • EPS: 95.22 (basic)
    95.22 (diluted)

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

Yen in millions except for per share amounts and percentagesThree months ended
June 30
Change
%
20172016
Net sales343,091 276,206 24.2%
Operating profit39,022 31,524 23.8%
Ratio of operating profit to net sales11.4%11.4%-
Profit before income taxes36,326 29,087 24.9%
Ratio of profit before income taxes to net sales10.6%10.5%-
Profit attributable to owners of the parent28,194 22,028 28.0%
Ratio of profit attributable to owners of the parent to net sales8.2%8.0%-
Earnings per share attributable to owners of the parent
-Basic
95.22 74.27 -
Earnings per share attributable to owners of the parent
-Diluted
95.22 74.27 -

Full copy of Nidec’s financial statements for the year ended June 30, 2017:
http://www.nidec.com/en-Global/ir/news/2017/news0726-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2017 is scheduled for 09:00 a.m. EDT on Wednesday, July 26, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY17Q1/

About Nidec Corporation

Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2017, 35.0% of its consolidated sales were represented by appliance, commercial and industrial products; 30.2% by small precision motors; 20.0% by automotive products; 9.5% by machinery; 4.9% 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