Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2016
KYOTO, Japan, Jan. 24, 2017 (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 December 31, 2016.
The highlights are as follows:
- Record-high nine months operating profit, profit before income taxes and profit attributable to owners of the parent
- Record-high three months profit before income taxes and profit attributable to owners of the parent
- Double-digit operating profit ratio maintained for both three and nine month periods (10.5%) in Automotive, Appliance, Commercial and Industrial Products, which are key drivers of the company’s business portfolio transformation
- Revision to FY2016 forecasts
- EPS: 275.25 yen (basic)
275.25 yen (diluted)
Selected 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) % |
||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||
| Net sales | 868,228 | 895,353 | (3.0 | )% | 304,198 | 308,001 | (1.2 | )% | ||||
| Operating profit | 106,197 | 90,286 | 17.6 | % | 37,193 | 30,683 | 21.2 | % | ||||
| Ratio of operating profit to net sales | 12.2 | % | 10.1 | % | – | 12.2 | % | 10.0 | % | - | ||
| Profit before income taxes | 107,771 | 92,467 | 16.6 | % | 41,478 | 30,320 | 36.8 | % | ||||
| Ratio of profit before income taxes to net sales | 12.4 | % | 10.3 | % | – | 13.6 | % | 9.8 | % | - | ||
| Profit attributable to owners of the parent | 81,638 | 69,526 | 17.4 | % | 31,528 | 22,669 | 39.1 | % | ||||
| Ratio of profit attributable to owners of the parent to net sales | 9.4 | % | 7.8 | % | – | 10.4 | % | 7.4 | % | - | ||
| Earnings per share attributable to owners of the parent -Basic |
275.25 | 234.19 | – | 106.30 | 76.04 | – | ||||||
| Earnings per share attributable to owners of the parent -Diluted |
275.25 | 233.05 | – | 106.30 | 76.04 | – | ||||||
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2016:
http://www.nidec.com/en-Global/ir/news/2017/news0124-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2016 is scheduled for 09:00 a.m. EST on Tuesday, January 24, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY16Q3/
About Nidec Corporation
Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the nine months ended December 31, 2016, 38.1% of its consolidated sales were represented by small precision motors; 24.2% by appliance, commercial and industrial products; 22.0% by automotive products; 10.0% by machinery; 5.5% by electronic and optical components, and 0.3% by the remaining product lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
Contact: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 [email protected]
