Nidec Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2013

        Print
| Source: Nidec Corporation

KYOTO, Japan, Jan. 22, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2013) and nine months (April-December 2013) of its fiscal year ending March 31, 2014.

Highlights are as follows:

  • Record nine-month sales and net income
  • Nine-month sales, operating income and net income up 23.6% y/y, 43.8% y/y, and 58.9% y/y, respectively
  • Three-month sales, operating income and net income up 27.9% y/y, 17-fold y/y and 18-fold y/y, respectively  
  • Three-month operating margin back in double digits at 10.4%
  • Upward revision to the company's financial forecast and dividend target for the year ending March 31, 2014
Consolidated Results of Operations (unaudited) 
  Yen in millions (except for per share amounts and percentages)
  Nine months ended
December 31
Increase
(Decrease)
Three months ended
December 31
Increase
(Decrease)
  2013 2012  % 2013 2012  %
  (unaudited)   (unaudited)  
Net sales  646,725 523,210 23.6% 217,091 169,670 27.9%
Operating income  61,866 43,026 43.8% 22,529 1,303 --
Ratio of operating income to net sales  9.6% 8.2% -- 10.4% 0.8% --
Income before income taxes  62,525 37,836 65.3% 24,084 1,259 --
Ratio of income from continuing operations before income taxes to net sales  9.7% 7.2% -- 11.1% 0.7% --
Net income attributable to Nidec Corporation  43,053 27,093 58.9% 15,950 894 --
Ratio of net income attributable to Nidec Corporation to net sales  6.7% 5.2% -- 7.3% 0.5% --
Net income attributable to Nidec Corporation stockholders per share-basic  317.93 201.26 -- 115.67 6.60 --
Net income attributable to Nidec Corporation stockholders per share-diluted  297.23 187.80 -- 108.47 6.06 --

Full copy of the financial statements for Nidec's 3Q and nine months ended December 31, 2013:

http://www.nidec.com/en-Global/ir/news/2014/news0122-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for 3Q and nine months ended December 31, 2013 is scheduled for 09:00 a.m. EST on Wednesday, January 22, 2014. To listen to the webcast, please visit Nidec website at:

http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY13Q3/

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the nine months ended December 31, 2013, 42.2% of its consolidated sales were represented by small precision motors; 25.7% by appliance, commercial and industrial products; 12.5% by automotive products; 8.9% by electronic and optical components; 9.8% 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.

Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140