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.