KYOTO, Japan, Jan. 21, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation 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 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.
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