KYOTO, Japan, July 28, 2005 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) (TSE:6594) announced today its financial results under U.S. GAAP for the period of April 1, 2005 to June 30, 2005.
Here are highlights:
-- Consolidated net sales increased Yen 10.2 billion, or 9.1%, to Yen 122.5 billion year-to-year. -- Consolidated operating income decreased Yen 1.4 billion, or 12.9%, to Yen 9.6 billion year-to-year. -- Consolidated net income increased Yen 0.3 billion to Yen 8.8 billion year-to-year. -- EPS: Yen 118.33 -- Strong quarter for the core Small Precision Motor business, yet, soft note from the Mid-size Motor/Machinery/Electronic and Optical Component, reflecting impacts of inventory adjustments and steel material price hikes on the businesses of consolidated subsidiaries. -- Record quarterly results for the hard-disk-drive (HDD) motor business. Sales and shipment increased 52%, and 57%, respectively year-to-year. Consolidated Financial Results Japanese yen (Millions except per share amounts) -------------------------------------------- Three months ended June 30, Year ended March 31, -------------------------------------------- 2005 2004 2005 -------------------------------------------- Net sales Yen 122,499 Yen 112,287 Yen 485,861 Percent change from the previous period 9.1% 100.8% 75.1% Operating income 9,602 11,027 53,665 Percent change from the previous period (12.9)% 113.7% 143.8% Income before income taxes and minority interests 11,959 13,585 57,290 Percent change from the previous period (12.0)% 151.8% 191.7% Net income 8,794 8,508 33,455 Percent change from the previous period 3.4% 85.7% 107.9% Net income per share, primary Yen 123.18 Yen 127.62 Yen 479.74 Net income per share, diluted Yen 118.33 Yen 121.20 Yen 456.58 --------------------
For a full copy of Nidec's financial results release, visit:http://www.nidec.co.jp/english/ir/index.html
Access the webcast (Live/Replay) of our investor meeting in NY scheduled for Thursday, August 4, 2005, 8:45 am -- 10:30 am EDT from:http://www.nidec.co.jp/english/ir/Webcasting_Notice.html.
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (TSE:6594) is the global leader in drive-technology products, focusing on brushless DC motors. Nidec manufactures small precision motors and mid-size motors, which comprise 59% of its total sales; machinery and other products comprise the remainder. As of March 2005, Nidec has 110 group companies in 14 countries employing 90,000 people. The Company was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
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