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.
CONTACT: Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
