KYOTO, Japan, April 24, 2012 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the fiscal year ended March 31, 2012. The highlights are as follows:
- Full-year sales leveled off Y/Y and operating income down 21% Y/Y, primarily due to the effects of Thailand's floods on the HDD motors business together with accelerated yen's appreciation.
- 4Q operating income up 6.2% Y/Y despite sales down 2% Y/Y, reflecting a solid recovery from flood-induced damages.
- Year-end Dividend: 45 Yen per share
- Annual Dividend: 90 Yen per share
| Selected Consolidated Results of Operations | ||||||
| Yen in millions (except for per share amounts) | ||||||
| Year ended | Increase | Three months ended | Increase | |||
| March 31 | (Decrease) | March 31 | (Decrease) | |||
| 2012 | 2011 | % | 2012 | 2011 | % | |
| (unaudited) | (unaudited) | |||||
| Net sales | 682,320 | 675,988 | 0.9% | 167,587 | 171,217 | (2.1%) |
| Operating income | 73,070 | 92,869 | (21.3%) | 18,775 | 17,673 | 6.2% |
| Ratio of operating income to net sales | 10.7% | 13.7% | -- | 11.2% | 10.3% | -- |
| Income from continuing operations before income taxes | 70,856 | 81,966 | (13.6%) | 22,063 | 18,899 | 16.7% |
| Ratio of income from continuing operations before income taxes to net sales | 10.4% | 12.1% | -- | 13.2% | 11.0% | -- |
| Income from continuing operations | 52,055 | 63,663 | (18.2%) | 15,787 | 15,660 | 0.8% |
| Loss from discontinued operations | (7,768) | (6,171) | -- | (6,045) | (3,814) | -- |
| Net income attributable to Nidec Corporation | 40,731 | 52,333 | (22.2%) | 9,077 | 11,860 | (23.5%) |
| Ratio of net income attributable to Nidec Corporation to net sales | 6.0% | 7.7% | -- | 5.4% | 6.9% | -- |
| Net income attributable to shareholders per share-basic | 296.25 | 375.91 | -- | 66.34 | 85.42 | -- |
| Net income attributable to shareholders per share-diluted | 276.89 | 362.80 | -- | 61.98 | 79.91 | -- |
| Note: Prior-period statements have been retrospectively adjusted to reflect the reclassification of discontinued operations under FASB ASC205-20. | ||||||
Full copy of Nidec's financial statements for the year ended March 31, 2012: http://www.nidec.co.jp/english/ir/lib/indexdata2/2012/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, 2012 is scheduled for 09:00 a.m. EDT on Wednesday, April 25, 2012.
To listen to the webcast, please visit Nidec website at: http://www.nidec.co.jp/english/ir/information/FY11Q4
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, 2012, "small precision motors" and "general motors" represented 70.9% of the total sales; electronic and optical components, machinery and other products comprised the remainder. 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