KYOTO, Japan, April 11, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the ”Company”) announces today that it has decided to voluntarily adopt IFRS to its consolidated financial statements in lieu of the current US-GAAP following the board resolution made at a meeting of the Board of Directors on April 9, 2016 to strengthen and improve the efficiency of financial reporting. The company is due to disclose its consolidated financial statements according to IFRS from the first quarter of the fiscal year ending March 2017.
Reference: Disclosure schedule due to the transition to IFRS (planned)
April 2016: Consolidated results and supplementary information for the year ended March 2016 (US GAAP)
May 2016: March 2016 Consolidated financial statements in the notice of shareholders’ meeting (US GAAP)
June 2016: March 2016 Japanese Financial Statements ("yuho") (US GAAP)
July 2016: Consolidated results and supplementary information for the first quarter ending June 2016 (fiscal year ending March 2017) (IFRS)
August 2016: First quarter financial reports for the year ending March 2017 (IFRS)