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Nidec Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2012

KYOTO, Japan, Jan. 24, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2012) and nine months (April-December 2012) of its fiscal year ending March 31, 2013.

Highlights are as follows:

  • 3Q and nine-month sales up 7.8% y/y and 1.6% y/y, respectively.
  • 3Q and nine-month operating income down 81.4% and 17.7%, respectively, mainly due to costs related to structural reform intended to overcome the market downtrend starting in the middle of 3Q.
  • EPS: 209.60 (basic)

195.59 (diluted)

Consolidated Results of Operations (unaudited) Yen in millions (except for per share amounts and percentages)
Nine months ended
December 31
Increase
(Decrease)
Three months ended
December 31
Increase
(Decrease)
2012 2011 2012 2011
(unaudited) (unaudited)
Net sales 523,210 514,733 1.6% 169,670 157,442 7.8%
Operating income 44,702 54,295 (17.7%) 2,517 13,528 (81.4%)
Ratio of operating income to net sales 8.5% 10.5% -- 1.5% 8.6% --
Income from continuing operations before income taxes 39,512 48,793 (19.0%) 2,473 14,206 (82.6%)
Ratio of income from continuing operations before income taxes to net sales 7.6% 9.5% -- 1.5% 9.0% --
Net income attributable to Nidec Corporation 28,216 31,654 (10.9%) 1,700 9,125 (81.4%)
Ratio of net income attributable to Nidec Corporation to net sales 5.4% 6.1% -- 1.0% 5.8% --
Net income attributable to Nidec Corporation stockholders per share-basic 209.60 229.86 -- 12.55 66.68 --
Net income attributable to Nidec Corporation stockholders per share-diluted 195.59 214.87 -- 11.63 62.30 --

Full copy of the financial statements for Nidec's 3Q and nine months ended December 31, 2012:

http://www.nidec.co.jp/english/ir/lib/indexdata2/2013/Q3_3.pdf

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for 3Q and nine months ended December 31, 2012 is scheduled for 09:00 a.m. EST on Thursday, January 24, 2013. To listen to the webcast, please visit Nidec website at:

http://www.nidec.co.jp/english/ir/information/FY12Q3

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric motor drive technology. For the nine months ended December 31, 2012, 46.4% of its consolidated sales were represented by small precision motors; 21.2% by appliance, commercial and industrial products; 12.1% by automotive products; 10.2% by electronic and optical components; 8.9% by machinery, and 1.2% by the remaining product lines. 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