Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2016
October 24, 2016 at 02:16 am EDT
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KYOTO, Japan, Oct. 24, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE:6594) (OTC US:NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2016 through September 30, 2016.
The highlights are as follows:
Record-high three and six months operating profit, profit before income taxes and profit attributable to owners of the parent
Continued improvement in operating profit ratio of Automotive, Appliance, Commercial and Industrial Products as a result of improved cost and product mix
Upward revision to the full-year profit forecasts and dividend projections
EPS: 168.95 yen (basic) 168.95 yen (diluted)
Selected Consolidated Results of Operations (Unaudited)
Yen in millions, except for per share amounts and percentages
Six months ended September 30,
Increase (Decrease) %
Three months ended September 30,
Increase (Decrease) %
2016
2015
2016
2015
Net sales
564,030
587,352
(4.0
)%
287,824
302,311
(4.8
)%
Operating profit
69,004
59,603
15.8
%
37,464
29,744
26.0
%
Ratio of operating profit to net sales
12.2
%
10.1
%
-
13.0
%
9.8
%
-
Profit before income taxes
66,293
62,147
6.7
%
37,190
30,556
21.7
%
Ratio of profit before income taxes to net sales
11.8
%
10.6
%
-
12.9
%
10.1
%
-
Profit attributable to owners of the parent
50,110
46,857
6.9
%
28,069
23,606
18.9
%
Ratio of profit attributable to owners of the parent to net sales
8.9
%
8.0
%
-
9.7
%
7.8
%
-
Earnings per share attributable to owners of the parent -Basic
168.95
158.17
-
94.64
79.38
-
Earnings per share attributable to owners of the parent -Diluted
168.95
157.10
-
94.64
79.13
-
Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2016: http://www.nidec.com/en-Global/ir/news/2016/news1024-01/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2016 is scheduled for 09:00 a.m. EDT on Tuesday, October 25, 2016. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q2/
About Nidec Corporation
Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2016, 37.5% of its consolidated sales were represented by small precision motors; 25.1% by appliance, commercial and industrial products; 22.0% by automotive products; 9.6% by machinery; 5.5% 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.
Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
Nidec Corporation specializes in the development, manufacturing and marketing of small precision motors and automotive and appliance components. Net sales break down by family of products as follows:
- appliances, air-conditioning and industrial equipment motors (40.5%);
- small precision motors (21.9%): pin motors for hard drives, fan motors, vibrating motors, brush motors and motor applications, etc. ;
- automotive components (21.3%);
- machines (12.1%): industrial robots, card readers, test systems, presses and power transmission drives, etc. ;
- electronic and optical components (3.9%): switches, trimmer potentiometers, lens units and camera shutters, etc. ;
- other (0.3%).
The net sales are distributed geographically as follows: Japan (17.8%), China (26.7%), the United States (21.6%), Germany (6.1%), Italy (5.5%), Thailand (5.2%) and other (17.1%).