Nidec Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2015
January 21, 2016 at 02:53 am
Share
KYOTO, Japan, Jan. 21, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2015) and nine months (April-December 2015).
Highlights are as follows:
Record-high nine-month net sales, operating income, income before taxes and net income of 895.4 billion yen, 94.0 billion yen and 94.4 billion yen, 70.9 billion yen, respectively
Net sales and operating income increased for eight and eleven consecutive quarters, respectively, marking the highest-ever levels.
Cash and cash equivalents exceeded interest-bearing debt for the first time in 23 quarters, which was achieved three month ahead of plan. Financial base and financial discipline were strengthened eyeing Vision 2020.
Basic EPS: 238.91 yen
Diluted EPS: 238.90 yen
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) %
2015
2014
2015
2014
(unaudited)
(unaudited)
Net sales
895,353
753,766
18.8
%
308,001
264,255
16.6
%
Operating income
93,990
80,727
16.4
%
32,160
28,804
11.7
%
Ratio of operating income to net sales
10.5
%
10.7
%
-
10.4
%
10.9
%
-
Income before taxes
94,357
81,309
16.0
%
30,968
29,771
4.0
%
Ratio of income before income taxes to net sales
10.5
%
10.8
%
-
10.1
%
11.3
%
-
Net income attributable to Nidec Corporation
70,928
58,031
22.2
%
23,320
21,318
9.4
%
Ratio of net income attributable to Nidec Corporation to net sales
7.9
%
7.7
%
-
7.6
%
8.1
%
-
Net income attributable to Nidec Corporation per share-basic
238.91
209.27
-
78.22
76.05
-
Net income attributable to Nidec Corporation per share-diluted
238.90
196.36
-
78.22
71.42
-
Full copy of the financial statements for 3Q and nine months ended December 31, 2015: http://www.nidec.com/en-Global/ir/news/2016/news0121-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for 3Q and nine months ended December 31, 2015 is scheduled for 09:00 a.m. EST on Thursday, January 21, 2016. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY15Q3/
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, 2015, 39.3% of its consolidated sales were represented by small precision motors; 23.2% by appliance, commercial and industrial products; 22.7% by automotive products; 8.8% by machinery; 5.5% by electronic and optical components, and 0.4% by the remaining product lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
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%).