Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2017

KYOTO, Japan, Oct. 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, 2017 through September 30, 2017.

The highlights are as follows:

  • Upward revision to the full-year FY2017 financial forecast
  • Upward revision to FY2017 year-end dividend projection
  • Record-high first-half net sales, operating profit, profit before income taxes and profit attributable to owners of the parent
  • First-half operating profit of “Automotive, Appliance, Commercial and Industrial Products” exceeded that of “Small Precision Motors” for the first time
  • Record-high quarterly net sales, operating profit and profit attributable to owners of the parent
  • EPS: 202.90 (basic and diluted)

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

Yen in millions, except for per share amounts and percentagesSix months ended
September 30,
Increase
(Decrease)
%
Three months ended
September 30,
Increase
(Decrease)%
2017 2016 2017 2016
Net sales715,890 564,030 26.9%372,799 287,824 29.5%
Operating profit82,612 68,985 19.8%43,590 37,461 16.4%
Ratio of operating profit to net sales11.5%12.2%- 11.7%13.0%-
Profit before income taxes76,630 66,274 15.6%40,304 37,187 8.4%
Ratio of profit before income taxes to net sales10.7%11.8%- 10.8%12.9%-
Profit attributable to owners of the parent60,074 50,094 19.9%31,880 28,066 13.6%
Ratio of profit attributable to owners of the parent to net sales8.4%8.9%- 8.6%9.7%-
Earnings per share attributable to owners of the parent
-Basic202.90 168.89 - 107.68 94.63 -
Earnings per share attributable to owners of the parent
-Diluted202.90 168.89 - 107.68 94.63 -

Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2017:
http://www.nidec.com/en-Global/ir/news/2017/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, 2017 is scheduled for 09:00 a.m. EDT on Wednesday, October 25, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY17Q2/

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, 2017, 34.9% of its consolidated sales were represented by appliance, commercial and industrial products; 30.8% by small precision motors; 19.6% 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