KYOTO, Japan, July 22, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (OTC US:NJDCY) (TSE:6594) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2016.
The highlights are as follows:
- Transition to the International Financial Reporting Standards (“IFRS”) from U.S. GAAP.
- Operating profit increased 5.6% Y/Y, marking quarterly record high despite a 3.1% decline in net sales Y/Y.
- Continued improvement in operating profit ratio of automotive, appliance, commercial and industrial products which are the key drivers of the company’s business portfolio transformation.
- EPS: 74.31 (basic)
74.31 (diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions except for per share amounts and percentages | Three months ended June 30 | Change % | |||||
| 2016 | 2015 | ||||||
| Net sales | 276,206 | 285,041 | -3.1 | ||||
| Operating profit | 31,540 | 29,859 | 5.6 | ||||
| Ratio of operating profit to net sales | 11.4 | % | 10.5 | % | - | ||
| Profit before income taxes | 29,103 | 31,591 | -7.9 | ||||
| Ratio of operating profit to net sales | 10.5 | % | 11.1 | % | - | ||
| Profit attributable to owners of the parent | 22,041 | 23,251 | -5.2 | ||||
| Ratio of profit attributable to owners of the parent to net sales | 8.0 | % | 8.2 | % | - | ||
| Earnings per share attributable to owners of the parent (basic) | 74.31 | 78.79 | - | ||||
| Earnings per share attributable to owners of the parent (diluted) | 74.31 | 77.96 | - | ||||
Note to the consolidated results of operations:
Nidec Corporation has adopted IFRS from the three-month period ended June 30, 2016. The financial data for the three-month period ended June 30, 2015 is also presented based on IFRS. For the differences between IFRS and United States Generally Accepted Account Principles (U.S. GAAP) in respect of the Nidec Corporation’s financial data, please refer to the full copy of the consolidated financial statements; http://www.nidec.com/en-Global/ir/news/2016/news0722-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2016 is scheduled for 09:00 a.m. EDT on Friday, July 22, 2016. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q1/
About Nidec Corporation
Nidec Corporation (OTC US:NJDCY) (TSE:6594) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2016, 34.3% of its consolidated sales were represented by small precision motors; 26.9% by appliance, commercial and industrial products; 23.2% by automotive products; 9.8% 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.