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Nidec Announces Financial Results for Fiscal Second Quarter Ended September 30, 2012

KYOTO, Japan, Oct. 24, 2012 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2012 through September 30, 2012.

The highlights are as follows:

  • Six-month operating income up 5% y/y, with margin ratio edging up 0.7 points to 12.1%, while sales down 1.0% y/y.
  • Three out of six previously announced acquisitions completed to lay the groundwork for a new phase of global growth.
  • Diluted EPS: 187.29 yen (for the six months ended September 30, 2012)
  • Interim dividend: 45 yen per share
    Projected annual dividend: 95 yen per share
Selected Consolidated Results of Operations
(Yen in millions, except for per share amounts and percentages)
Six months Three months
Ended Increase Ended Increase
September 30, (Decrease) September 30, (Decrease)
% %
2012 2011 2012 2011
(unaudited) (unaudited)
Net sales 353,540 357,291 (1.0%) 174,519 180,657 (3.4%)
Operating income 42,816 40,767 5.0% 20,314 20,920 (2.9%)
Ratio of operating income to net sales 12.1% 11.4% 11.6% 11.6%
Income from continuing operations before income taxes 37,670 34,587 8.9% 19,017 16,327 16.5%
Ratio of income from continuing operations before income taxes to net sales 10.7% 9.7% -- 10.9% 9.0% --
Income from continuing operations 28,878 26,316 9.7% 14,795 12,336 19.9%
Loss from discontinued operations -- (1,362) -- -- (686) --
Net income attributable to Nidec Corporation 26,920 22,529 19.5% 13,434 10,319 30.2%
Ratio of net income attributable to Nidec Corporation to net sales 7.6% 6.3% -- 7.7% 5.7% --
Net income attributable to shareholders per share-basic 200.66 163.08 -- 101.17 74.86 --
Net income attributable to shareholders per share-diluted 187.29 152.49 -- 94.37 69.98 --

Full copy of Nidec's financial statements for the second quarter ended September 30, 2012:

http://www.nidec.co.jp/english/ir/lib/indexdata2/2013/Q2_3.pdf

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the second quarter ended September 30, 2012 is scheduled for 09:00 a.m. EDT (14:00 p.m. BST) on Thursday, October 25, 2012.

To listen to the webcast, please visit Nidec website at:

http://www.nidec.co.jp/english/ir/information/FY12Q2

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric motor drive solutions. For the six months ended September 30, 2012, small precision motors and automotive, household, commercial and industrial products combined represented 76.2% of the company's consolidated sales. Electronic and optical components, machinery and other products comprised the remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.

The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734

CONTACT: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 ir@jp.nidec.com

Source:Nidec Corporation