KYOTO, Japan, Oct. 28, 2005 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) (Tokyo, Osaka stock exchange code:6594) announced today its financial results under U.S.GAAP for the period of April 1, 2005 to September 30, 2005.
The following are the highlights:
-- Sales, Operating Income and Net Income hit record highs, improving
over Q1.
-- The Small Precision Motor business reported a 24.7% increase in
Sales and a 44.8% increase in Operating Income Y/Y.
-- The Mid-size Motors business incurred loss, reflecting steel price
hikes.
-- Machinery and Electronic and Optical Components reported decreased
Sales and Operating Income, despite the sharp bounceback in Q2.
-- EPS (diluted): 274 yen
-- Interim Dividends: 25 yen per share
-- A two-for-one split on the ordinary share to take effect on
November 18, 2005, for the shareholders of record as of September
30, 2005.
Consolidated Financial Results
Japanese yen
(Millions except per share amounts)
---------------------------------
Six months ended Year ended
September 30, March 31,
---------------------------------
2005 2004 2005
---------------------------------
Net sales 256,174 236,405 485,861
Percent change from the previous
period 8.4% 98.6% 75.1%
Operating income 25,078 24,096 53,665
Percent change from the previous
period 4.1% 112.8% 143.8%
Income before income taxes and
minority interests 30,187 27,432 57,290
Percent change from the previous
period 10.0% 186.7% 191.7%
Net income 20,401 16,049 33,455
Percent change from the previous
period 27.1% 91.0% 107.9%
Net income per share, primary 285.66 233.78 479.74
Net income per share, diluted 274.39 222.39 456.58
-----------------------------
Full copy of the earnings release: http://www.nidec.co.jp/english/ir/index.html
Conference Call Webcast (Live/Replay) scheduled for Monday, October 31, 2005, 9:00 am EST: http://www.nidec.co.jp/english/ir/indexdata_e/2005/051027
Revised Consolidated Financial Forecasts (U.S. GAAP) for the Year
Ending March 31, 2006
(From April 1, 2005 to March 31, 2006) (Yen in millions)
---------------------------------------------------------------------
For the year ending March 31, 2006
--------------------------------------------- For the
year ended
Previous Revised Change Change March 31,
forecast Forecast (amount) (percent) 2005
(April 25, 2005)
------------------------- -------------------------------------------
Net sales 520,000 520,000 0 0% 485,861
------------------------- -------------------------------------------
Operating
income 55,000 55,000 0 0% 53,665
------------------------- -------------------------------------------
Net income
before tax 55,000 60,000 5,000 9.1% 57,290
------------------------- -------------------------------------------
Net income 34,000 40,000 6,000 17.6% 33,455
------------------------- -------------------------------------------
Disclaimer Regarding Forward-Looking Statements
This press release contains forward-looking statements (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Nidec and its group companies (the Nidec Group). These forward-looking statements are based on the current expectations, assumptions, estimates and projections of the Nidec Group in light of the information currently available to them. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "plan" or similar words. These statements discuss future expectations, identify strategies, contain projections of results of operations or of the Nidec Group's financial condition, or state other forward-looking information. Known and unknown risks, uncertainties and other factors could cause the actual results to differ materially from those contained in any forward-looking statement. We cannot promise that our expectations expressed in these forward-looking statements will turn out to be correct. Our actual results could be materially different from and worse than our expectations as a result of certain factors, including, but not limited to (i) the Nidec Group's ability to design, develop, mass produce and win acceptance of their products, (ii) general economic conditions in the computer, information technology and related product markets, particularly levels of consumer spending, (iii) exchange rate fluctuations, particularly between the Japanese yen and the U.S. dollar and other currencies in which we make significant sales or in which the Nidec Group's assets and liabilities are denominated, (iv) the Nidec Group's ability to acquire and successfully integrate companies with complementary technologies and product lines, and (v) adverse changes in laws, regulations or economic policies in any of the countries where the Nidec Group has manufacturing operations, especially China.
About Nidec Corporation
Nidec Corporation (NYSE NJ) (Tokyo, Osaka stock exchange code: 6594) is the global leader in drive-technology products, focusing on brushless DC motors. Nidec manufactures small precision motors and mid-size motors, which comprise 58% of its total sales; machinery and other products comprise the remainder. As of March 2005, Nidec has 110 group companies in 14 countries employing 100,000 people. The Company was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
The Nidec Corporation logo can be found at: http://www.primezone.com/newsroom/prs/?pkgid=1734