KYOTO, Japan, Oct. 28, 2005 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) (the "Company") resolved at a meeting of its Board of Directors today to revise upward its interim and year-end dividend forecast for the year ending March 31, 2006.
Reasons for revision
In line with the Company's basic dividend policy to apply 10% of the consolidated fiscal net income to dividend payments, the Company decided to raise interim and year-end dividends in a way that reflects the improved half-year results and a prospect of profit increases on an annual basis.
The Company will raise its forecast for interim dividends per share by 2.5 Yen to 25 Yen.
As reported on July 28, 2005, the Company plans to implement a two-for-one split on its ordinary share effective November 18, 2005, for the shareholders of record as of September 30, 2005. Reflecting the stock split, the year-end dividends will be 15 Yen per share. On a pre-split basis, this translates into 30 Yen per share, a 7.5 Yen increase from the previous year.
As a result, the annual dividends for the year ending March 31, 2006 will be 40 Yen per share.
Details of revision
(Y) Yen Yen per share
Revised dividend forecast Previous dividend forecast
for the year ending for the year ending f
March 31, 2006 March 31, 2006
(as of April 25, 2005)
Interim (Y)25.00 (Y)22.50
Year-end (Y)15.00 (Y)22.50
((Y)30.00)
Annual (Y)40.00 (Y)45.00
((Y)55.00)
Dividends paid
for the year ended
March 31, 2005
Interim (Y)20.00
Year-end (Y)25.00
Annual (Y)45.00
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-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.
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