Nidec Announces Financial Results for Fiscal Year Ended March 31, 2012


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



            

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