KYOTO, Japan, July 26, 2017 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE:6594) (OTC US:NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2017.
The highlights are as follows:
- Upward revision to the first half and full-year FY2017 financial performance forecasts.
- Quarterly net sales and operating profit increased 24% Y/Y to record highs of ¥343.1 billion and ¥39.0 billion, respectively.
- Quarterly operating profit ratios for Small Precision Motors, Machinery, Electronic & Optical Components and Other Products surpassed 15%, the minimum target for FY2020.
- Profit attributable to owners of the parent improved by 28% Y/Y to ¥28.2 billion.
- EPS: 95.22 (basic)
95.22 (diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions except for per share amounts and percentages | Three months ended June 30 | Change % | ||||
| 2017 | 2016 | |||||
| Net sales | 343,091 | 276,206 | 24.2 | % | ||
| Operating profit | 39,022 | 31,524 | 23.8 | % | ||
| Ratio of operating profit to net sales | 11.4 | % | 11.4 | % | - | |
| Profit before income taxes | 36,326 | 29,087 | 24.9 | % | ||
| Ratio of profit before income taxes to net sales | 10.6 | % | 10.5 | % | - | |
| Profit attributable to owners of the parent | 28,194 | 22,028 | 28.0 | % | ||
| Ratio of profit attributable to owners of the parent to net sales | 8.2 | % | 8.0 | % | - | |
| Earnings per share attributable to owners of the parent -Basic | 95.22 | 74.27 | - | |||
| Earnings per share attributable to owners of the parent -Diluted | 95.22 | 74.27 | - | |||
Full copy of Nidec’s financial statements for the year ended June 30, 2017:
http://www.nidec.com/en-Global/ir/news/2017/news0726-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2017 is scheduled for 09:00 a.m. EDT on Wednesday, July 26, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY17Q1/
About Nidec Corporation
Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2017, 35.0% of its consolidated sales were represented by appliance, commercial and industrial products; 30.2% by small precision motors; 20.0% by automotive products; 9.5% by machinery; 4.9% by electronic and optical components, and 0.3% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.