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Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2013

KYOTO, Japan, July 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2013 through June 30, 2013.

The highlights are as follows:

  • Sales up 18% y/y and 13.6% q/q to a quarterly record of JPY 211.3 billion.
  • Operating income of JPY 18.1 billion, a positive swing of approximately JPY 43.5 billion compared to a loss from operations of JPY 25.4 in the fourth quarter ended March 31, 2013. Operating income on a y/y basis down 18.5%.
  • Upward revision to the 1H and full-year financial forecasts.
  • EPS: 99.56 yen (basic)
    92.93 yen (diluted)

Selected Consolidated Results of Operations (Unaudited) (Yen in millions, except for per share amounts and percentages)
Three months ended
June 30,
Increase
(Decrease)%
(Reference)
Three months ended
March 31, 2013
2013 2012
Net sales 211,276 179,021 18.0% 186,060
Operating income 18,080 22,183 (18.5%) (25,399)
Ratio of operating income to net sales 8.6% 12.4% -- --
Income before income taxes 17,399 18,334 (5.1%) (24,409)
Ratio of income before income taxes to net sales 8.2% 10.2% -- --
Net income attributable to Nidec Corporation 13,359 13,282 0.6% (19,095)
Ratio of net income attributable to Nidec Corporation to net sales 6.3% 7.4% -- --
Net income attributable to shareholders per share-basic-- 99.56 97.99 -- --
Net income attributable to shareholders per share-diluted 92.93 91.53 -- --

Full copy of Nidec's financial statements for the first quarter ended June 30, 2013:
http://www.nidec.co.jp/english/news/indexdata_e/2013/0723_2.pdf

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the first quarter ended June 30, 2013 is scheduled for 09:00 a.m. EDT on Tuesday, July 23, 2013. To listen to the webcast, please visit Nidec website at: http://www.nidec.co.jp/english/ir/information/FY13Q1

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2013, 41.6% of its consolidated sales were represented by small precision motors; 27.5% by appliance, commercial and industrial products; 12.3% by automotive products; 8.3% by electronic and optical components; 9.4% by machinery, and 0.9% 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@nidec.com

Source:Nidec Corporation

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