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Nidec Announces Financial Results for Fiscal Year Ended March 31, 2013

KYOTO, Japan, April 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the fiscal year ended March 31, 2013. The highlights are as follows:

  • Full-year sales up 3.9% Y/Y. Operating income down 75.9 % Y/Y, mainly due to costs related to a structural reform aimed to overcome demand declines experienced in the second half of FY2012.
  • Board decision to make three subsidiaries (Nidec Copal, Nidec Tosok and Nidec Seimitsu) wholly owned by Nidec Corp. through share exchange.
  • EPS: 59.37 (basic)
    55.07 (diluted)
  • Year-end Dividend: 40 Yen per share
    Annual Dividend: 85 Yen per share

Selected Consolidated Results of Operations
Yen in millions (except for per share amounts)

Year ended
March 31
Increase
(Decrease)
%

Three months ended
March 31
Increase
(Decrease)
%
2013 2012 2013 2012
(unaudited) (unaudited)
Net sales 709,270 682,320 3.9% 186,060 167,587 11.0%
Operating income 17,627 73,070 (75.9%) (25,399) 18,775 --
Ratio of operating income to net sales 2.5% 10.7% -- (13.7%) 11.2% --
Income from continuing operations before income taxes 13,427 70,856 (81.1%) (24,409) 22,063 --
Ratio of income from continuing operations before income taxes to net sales 1.9% 10.4% -- (13.1%) 13.2% --
Income from continuing operations 6,872 52,055 (86.8%) (22,313) 15,787 --
Loss from discontinued operations -- (7,768) -- -- (6,045) --
Net income attributable to Nidec Corporation 7,998 40,731 (80.4%) (19,095) 9,077 --
Ratio of net income attributable to Nidec Corporation to net sales 1.1% 6.0% -- (10.3%) 5.4% --
Net income attributable to shareholders per share-basic 59.37 296.25 -- (141.45) 66.34 --
Net income attributable to shareholders per share-diluted 55.07 276.89 -- -- 61.98 --

Full copy of Nidec's financial statements for the year ended March 31, 2013:

http://www.nidec.co.jp/english/ir/lib/indexdata2/2013/Q4_3.pdf

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the fiscal year ended March 31, 2013 is scheduled for 09:00 a.m. EDT on Wednesday, April 24, 2013.

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

http://www.nidec.co.jp/english/ir/information/FY12Q4

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric motor drive technology. For the year ended March 31, 2013, 45.1% of its consolidated sales were represented by small precision motors; 22.8% by appliance, commercial and industrial products; 12.2% by automotive products; 9.7% by electronic and optical components; 9.0% 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.

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

Source:Nidec Corporation