Nidec Announces Financial Results for Fiscal Year Ended March 31, 2015
April 22, 2015 at 07:01 am EDT
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KYOTO, Japan, April 22, 2015 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the fiscal year ended March 31, 2015. The highlights are as follows:
Record-high full-year net sales, operating income, income before taxes and net income
1 trillion yen mark in net sales and 100 billion yen mark in operating income achieved for the first time
Sales of "Automotive, Appliance, Commercial and Industrial Products" surpassing those of "Small Precision Motors" as a result of the strategic business portfolio transformation
Convertible bond (CB) conversion amounted to 74.3 billion Yen (78% of remaining CBs after early redemption put option). The debt to equity ratio improved further as the year-end shareholders' equity ratio rose to 55%
EPS (diluted): 256.73 yen
Year-end dividend: 40 yen per share (Annual dividend: 70 yen per share)
Consolidated Results of Operations (unaudited)
Yen in millions (except for per share amounts and percentages)
Year ended
Increase
Three months ended
Increase
March 31
(Decrease)
March 31
(Decrease)
2015
2014
%
2015
2014
%
(unaudited)
(unaudited)
Net sales
1,028,385
875,109
17.5
274,619
228,384
20.2
Operating income
111,218
84,864
31.1
30,491
22,998
32.6
Ratio of operating income to net sales
10.8%
9.7%
--
11.1%
10.1%
--
Income before income taxes
107,371
84,460
27.1
26,062
21,935
18.8
Ratio of income from continuing operations before income taxes to net sales
10.4%
9.7%
--
9.5%
9.6%
--
Net income attributable to Nidec Corporation
76,216
56,272
35.4
18,185
13,219
37.6
Ratio of net income attributable to Nidec Corporation to net sales
7.4%
6.4%
--
6.6%
5.8%
--
Net income attributable to Nidec Corporation stockholders per share-basic
272.32
206.82
--
63.23
47.93
--
Net income attributable to Nidec Corporation stockholders per share-diluted
256.73
193.50
--
60.45
44.94
--
Full copy of Nidec's financial statements for the year ended March 31, 2015: http://www.nidec.com/en-Global/ir/news/2015/news0422-01/.
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the fiscal year ended March 31, 2015 is scheduled for 09:00 a.m. EDT on Thursday, April 23, 2015. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY14Q4/.
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the year ended March 31, 2015, 38.7% of its consolidated sales were represented by small precision motors; 25.6% by appliance, commercial and industrial products; 19.1% by automotive products; 9.6% by machinery; 6.3% by electronic and optical components, and 0.6% 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%).