KYOTO, Japan, July 23, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2014 through June 30, 2014.
The highlights are as follows:
-
Net sales up 13.7% Y/Y to a quarterly record-high of JPY 240.2 billion.
-
Operating income up 41.6% Y/Y to JPY 25.6 billion, marking five consecutive quarters of increased operating income since the structural reform in FY2012
-
Upward revision to the 1H and full-year financial performance forecasts and dividend projections
-
EPS: 64.96 yen (basic)
60.93 yen (diluted)
|
Selected Consolidated Results of Operations (Unaudited) |
Yen in millions (except for per share amounts and percentages) |
|
|
|
|
|
|
|
Three months ended
June 30, |
Increase
(Decrease)
% |
(Reference)
Three months ended
March 31, 2014 |
|
|
2014 |
2013 |
|
|
|
Net sales |
240,188 |
211,276 |
13.7% |
228,384 |
|
Operating income |
25,552 |
18,047 |
41.6% |
23,202 |
|
Ratio of operating income to net sales |
10.6% |
8.5% |
- |
10.2% |
|
Income before taxes |
24,971 |
17,366 |
43.8% |
22,139 |
|
Ratio of income before taxes to net sales |
10.4% |
8.2% |
- |
9.7% |
|
Net income attributable to Nidec Corporation |
17,917 |
13,346 |
34.2% |
13,351 |
|
Ratio of net income attributable to Nidec Corporation to net sales |
7.5% |
6.3% |
- |
5.8% |
|
Net income attributable to shareholders per share-basic* |
64.96 |
49.73 |
- |
48.41 |
|
Net income attributable to shareholders per share-diluted* |
60.93 |
46.42 |
- |
45.39 |
* The Company implemented a two-for-one stock split of its common stock effective April 1, 2014. The previously reported net income attributable to Nidec Corporation per share-basic and net income attributable to Nidec Corporation per share-diluted have been retroactively adjusted to reflect the stock split.
Full copy of Nidec's financial statements for the first quarter ended June 30, 2014: http://www.nidec.com/en-Global/ir/news/2014/news0723-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the first quarter ended June 30, 2014 is scheduled for 09:00 a.m. EDT on Wednesday, July 23, 2014. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY14Q1/
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2014, 37.4% of its consolidated sales were represented by small precision motors; 26.4% by appliance, commercial and industrial products; 19.5% by automotive products; 9.3% by machinery; 6.7% by electronic and optical components, and 0.7% 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
