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Nidec Announces Differences Between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 and Revision to Year-End Dividend Forecast

KYOTO, Japan, April 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (the "Company") (NYSE:NJ) today announced differences between its financial forecast for the year ended March 31, 2013 (announced on January 24, 2013) and the actual financial results released today. The Company also announced that it would revise its year-end dividend forecast for the year ended March 31, 2013, which is to be approved at a meeting of the Company's Board of Directors scheduled for May 28, 2013.

The details are as follows.

1. Differences between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 (U.S. GAAP)

From April 1, 2012 to March 31, 2013 (Millions of Yen, except per share amounts and percentages)
For the year ended March 31, 2013 For the year ended March 31, 2012
Forecast announced
on January 24, 2013
Actual Change
(amount)
Change
(%)
Net sales 690,000 709,270 19,270 2.8 682,320
Operating income 20,000 17,627 (2,373) (11.9) 73,070
Income from
continuing operations
before income taxes
12,500 13,427 927 7.4 70,856
Net income attributable
to the Company
4,500 7,998 3,498 77.7 40,731
Net income
Attributable to
Nidec Corporation
per share-basic
33.37 59.37 -- -- 296.25

The Company sees its net sales for the fiscal year 2012 in line with its expectations, but operating income fell short of the Company's expectation due to increased selling costs and general, administrative expenses. In the meantime, income from continuing operations before income taxes increased due to factors including foreign exchange gains deriving from Yen's depreciation. Net income attributable to the Company also increased to exceed the Company's expectation mainly because of positive tax effects and decreased non-controlling interests.

2. Revision to Year-end Dividend Forecast for Fiscal Year Ended March 31, 2013

Dividend per share (Yen) for the year ended March 31, 2013

Interim Year end Full year
Previous Forecast
(as of January. 24, 2013)
-- 35 80
Revised Forecast -- 40 85
Dividend Paid 45 -- --

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Dividend per share (Yen) for the year ended March 31, 2012

Interim Year end Full year
Dividend Paid 45 45 90

The Company upholds shareholder-oriented management and places importance on regular dividend payments, seeking to increase its dividend payout to around 30% of the consolidated net income.

For the fiscal year ended March 31, 2013, in addition to the interim dividend of ¥45.0 per share already paid, the Company intends to pay a year-end dividend of 40.0 Yen per share, an increase of ¥5.0 per share from the amount previously announced. As a result, together with the interim dividend of ¥45.0 per share, the full-year dividend will be ¥85.0 per share.

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

Source:Nidec Corporation