KYOTO, Japan, April 25, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the fiscal year ended March 31, 2016. The highlights are as follows:
- Record-high full-year net sales for four consecutive years.
- Operating income, income before tax and net income increased for three consecutive years, following the structural reform in FY2012.
- Operating income ratio on automotive, appliance, commercial and industrial products exceeded 10% in the three-month period ended March 31, 2016, driving the company’s business portfolio transformation.
- Cash and cash equivalents exceeded interest-bearing debt for the first time in six years, resulting in approx. 5.2 billion yen net cash at end-March 2016. Cash conversion cycle shortened by 7 days to 66 days, and working capital saved by 11.2 billion yen compared to the same time of the previous year.
- EPS (diluted): 308.19 yen
- Year-end dividend: 40 yen per share (Annual dividend: 80 yen per share)
| Consolidated Results of Operations (unaudited) | Yen in millions (except for per share amounts and percentages) | ||||||||||||||
| Year ended March 31 | Increase (Decrease) % | Three months ended March 31 | Increase (Decrease) % | ||||||||||||
| 2016 | 2015 | 2016 | 2015 | ||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||
| Net sales | 1,178,290 | 1,028,385 | 14.6 | 282,937 | 274,619 | 3.0 | |||||||||
| Operating income | 124,538 | 110,939 | 12.3 | 30,548 | 30,212 | 1.1 | |||||||||
| Ratio of operating income to net sales | 10.6 | % | 10.8 | % | - | 10.8 | % | 11.0 | % | - | |||||
| Income before income taxes | 119,328 | 107,092 | 11.4 | 24,971 | 25,783 | -3.1 | |||||||||
| Ratio of income from continuing operations before income taxes to net sales | 10.1 | % | 10.4 | % | - | 8.8 | % | 9.4 | % | - | |||||
| Net income attributable to Nidec Corporation | 91,810 | 76,015 | 20.8 | 20,882 | 17,984 | 16.1 | |||||||||
| Ratio of net income attributable to Nidec Corporation to net sales | 7.8 | % | 7.4 | % | - | 7.4 | % | 6.5 | % | - | |||||
| Net income attributable to Nidec Corporation stockholders per share-basic | 309.32 | 271.61 | - | 70.41 | 62.54 | - | |||||||||
| Net income attributable to Nidec Corporation stockholders per share-diluted | 308.19 | 256.05 | - | 70.41 | 59.78 | - | |||||||||
Full copy of Nidec’s financial statements for the year ended March 31, 2016:
http://www.nidec.com/en-Global/ir/news/2016/news0425-01/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2016 is scheduled for 09:00 a.m. EDT on Tuesday, April 26, 2016. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY15Q4/
About Nidec Corporation
Nidec Corporation (NYSE: NJ; Tokyo: 6594) is a global leader in electric motor drive technology. For the year ended March 31, 2016, 38.0% of its consolidated sales were represented by small precision motors; 24.1% by appliance, commercial and industrial products; 23.0% by automotive products; 9.0% by machinery; 5.4% by electronic and optical components, and 0.4% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.