NIDEC CORPORATION TSE: 6594 OTC US: NJDCY
http://www.nidec.com/en-Global/
Nidec Corporation
Fiscal First-Half 2017 Financial ResultsSix Months Ended September 30, 2017
October 25, 2017
Disclaimer Regarding Forward-looking Statements
These presentation materials and the related discussions contain forward-looking statements including expectations, estimates, projections, plans and strategies. Such forward-looking statements are based on management's targets, assumptions and beliefs in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such risks and uncertainties include, but are not limited to, changes in customer circumstances and demand, exchange rate fluctuations, and the Nidec Group's ability to design, develop, mass produce and win acceptance of its products and to acquire and successfully integrate companies with complementary technologies and product lines. Please see other disclosure documents filed or published by the Nidec Group companies, including the Japanese securities report, for additional information regarding such risks and uncertainties. Nidec undertakes no obligation to update the forward-looking statements unless required by law.
The first slide features E-Axle, a traction motor system that includes a traction motor, gear box and inverter.
Nidec newly developed this traction motor system for electric and plug-in hybrid electric vehicles.
2
Consolidated Profit/Loss
Change
Millions of Yen, except for
EPS, dividends and FX rates 1H/FY20161H/FY2017
FY2017
Forecast
Net sales 564,030 715,890 +26.9% 1,450,000
Operating profit 68,985 82,612 +19.8% 170,000
Operating profit ratio 12.2% 11.5% - 11.7%
Profit before
income taxes 66,274 76,630 +15.6% 163,000
Profit attributable to
owners of the parent EPS (Yen) | 168.89 | 202.90 | +20.1% | 432.32 |
Dividends (Yen) | 40.00 | 45.00 | - | 95.00 |
FX rate (Yen/US$) | ||||
Average: | 105.29 | 111.06 | +5.5% | 105.00 |
Term end: | 101.12 | 112.73 | +11.5% | (Assumed for 3Q onward) |
50,094 60,074 +19.9% 128,000
Note: Based on the current forecast of sales volume, every one yen appreciation or depreciation against the U.S. dollar and the euro for FY2017 is estimated to have an annualized impact of
billion yen and 1.70 billion yen on net sales, respectively, and 1.10 billion yen and 0.40 billion yen on operating profit, respectively. 3
Summary of 1H/FY2017
Record-high first-half net sales, operating profit, profit before income taxes and profit attributable to owners of the parent
First-half operating profit of Automotive, Appliance, Commercial and Industrial Products finally exceeded that of Small Precision Motors
Record-high quarterly net sales, operating profit and profit attributable to owners of the parent
Upward revision to FY2017 forecasts Year-end dividend projection raised
4
-0.8
-0.6
+0.3
+2.7 -0.04
Q2/FY17
Electronic
and Optical Components and Others
Machinery
Automotive,
Appliance, Commercial and Industrial Products
+3.1
(Billions of Yen)
+9.7
+13.0
+3.6
-3.3
+1.3
+4.5
+0.4
+2.1
+8.6
1H/FY17
Electronic
and Optical Components and Others
Machinery
Automotive,
Appliance, Commercial and Industrial Products
(Billions of Yen)
+26.2
Year-on-Year Changes (Six Months Ended September 30, 2017)
(Billions of Yen)
+110.7
+12.6
+2.8
-0.5
715.9
564.0
1H/FY16
ExchangeSmall Precision
rateMotors
82.6
69.0
1H/FY16
Exchange Small Precision
rate Motors
Automotive,
Appliance, Commercial and Industrial Products
Machinery
Electronic
and Optical Components and Others
Eliminations/ 1H/FY17
corporate
5
Quarter-on-Quarter Changes (Three Months Ended September 30, 2017)
(Billions of Yen)
+2.4
+1.1
343.1
372.8
Q1/FY17
ExchangeSmall Precision
rateMotors
39.0
43.6
Q1/FY17
Exchange Small Precision
rate Motors
Automotive,
Appliance, Commercial and Industrial Products
Machinery
Electronic
and Optical Components and Others
Eliminations/ Q2/FY17
corporate
6
Key Growth Areas on a stable growth trajectoryQ2 Operating profit:
21.2 billion yen (Operating profit ratio: 10.5%)
Operating Profit (Billions of Yen)
Key Growth Areas
Appliance, Commercial and Industrial Automotive
25
-5
-50
Consolidated Quarterly Net Sales and Operating Profit
(Net Sales in
Billions of Yen)
450
Net sales (LHS)
Operating profit (RHS)
45
(Operating Profit in
Billions of Yen)
400
40
350
35
300
30
250
25
200
20
150
Japan
earthquake
15
100
Thai
floods
10
50 Lehman crisis
Structural reform
5
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
0
-25.4
US GAAP
IFRS
7
Quarterly Results of Automotive, Appliance, Commercial and Industrial Products
(Billions of Yen)
250
Key Growth Areas
Appliance, Commercial and Industrial Automotive
Sales (Billions of Yen)
Q2 Sales:
201.7 billion yen
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
FY13 FY14 FY15 FY16 FY17
U.S. GAAP IFRS
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
FY13 FY14 FY15 FY16 FY17
U.S. GAAP IFRS
8
Continuing aggressive investments that support organic growth26.8
(1H Actual)
(1H Actual)
(1H Actual)
32.8
41.8
52.8
60.0
(Full-Year Forecast)
60.0
59.7 (Full-Year Forecast)
68.7
FY2017 cash flow to
emerge stronger from M&A-induced shortfall in 2H/2016 to bolster future growth driven by continued
CCC* improvement
-143.4
-100
-51.9
-59.3
-34.8
-36.1
10.4
0
22.4
41.9
33.4
74.2
61.7
78.0
69.6
Cash Flow
(Billions of Yen)
Operating CF
Investment CF
Free CF
200
96.5
100
-200
1H/2015
2H/2015
1H/2016
-176.7
2H/2016
1H/2017
* CCC: Cash Conversion Cycle
9
CAPEX, Depreciation, R&D
CAPEX
(Billions of Yen)
120
100.0
(Full-Year Forecast)
Depreciation
R&D
0
FY16
FY17
FY16
FY17
FY16
FY17
This slide includes forward-looking statements. See Disclaimer on Page 2. 10
Revision to FY2017 Forecast
Millions of Yen, except for
(July 26, 2017)>
percentages, EPS, dividends and FX rates
1H/FY2017
Forecast
Full-Year
Forecast
1H/FY2017
Results
Full-Year Forecast
Net sales 650,000 1,375,000
Operating profit 80,000 165,000
Operating Profit Ratio 12.3% 12.0%
Profit before
income taxes 77,000 161,000
Profit attributable to
owners of the parent 60,000127,000
EPS (Yen) 202.65 428.94
Dividends (Yen) 45.00 90.00
715,890 1,450,000
82,612 170,000
11.5% 11.7%
76,630 163,000
60,074 128,000
202.90 432.32
45.00 95.00
FX Rate (Yen/US$) FX Rate (Yen/€)
105
110
(Assumed for
105
110
(Assumed for
111.06
126.29
(Assumed for
105
110
Q2 onward)
Q2 onward)(Average)
3Q onward)
This slide includes forward-looking statements. See Disclaimer on Page 2. 11
Mid-Term Strategic Goal Vision2020This section includes forward-looking statements. See Disclaimer on Page 2.
12
Vision2020: Mid-Term Strategic Goal
Continuous pursuit of profit & strong growth
Target for consolidated net sales: 2 trillion yen (including sales attributable to new M&A
of approx. 500 billion yen)
Sales target for automotive: 700 billion to 1 trillion yen
Target for consolidated operating profit ratio: 15%
Target for ROE: 18%
(Assuming shareholders' equity ratio of 60%)
Five regional HQ management units
Motors
Automotive
Appliance, Commercial and
Industrial Products
Other Product Groups
New M&A 600.0 600.0 600.0
growth> growth>growth>
Key Growth Areas
164.2
190.1
94.2 Key Growth Areas
200.0
(Target)69.2
This slide includes forward-looking statements. See Disclaimer on Page 2. 13
Three 600 Billion Yen Businesses Are Key to Achieving 2 Trillion Yen Net Sales
FY2010
Net sales: 676 billion yen
(Sales: Billions of Yen)
Small Precision
FY2016
Net sales: 1.199 trillion yen
FY2020
Net sales: 2 trillion yen (target)
1 T
437.1
(Target)
(Target) (Target)
348.4
261.1
310.9
Key Growth Areas
This slide includes forward-looking statements. See Disclaimer on Page 2.
14
Vision2020: Aiming for 15% Operating Profit Ratio (1)
(Net Sales in Trillions of Yen)
(Operating Profit Ratio, %)
15%
2.5 13.9% 15
2
1.5
13.7%
10.7%
10.8%
9.7%
1.03 T
10.0%
1.18 T
11.6%
1.20 T
11.7%
1.45 T
2 T The main focus
10 shifts to profit structure reform with stronger
1
0.5
571.6 B
676.0 B 682.3 B
709.3 B
2.5%
B
5 prospects for solid topline growth
0 0
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY20
(Forecast)
US GAAP IFRS
(Target)
This slide includes forward-looking statements. See Disclaimer on Page 2. 15
Vision2020: Aiming for 15% Operating Profit Ratio (2)
40%
30%
Gross profit ratio Operating profit ratio
1%
%
Gross profit ratio over 3 Aiming for substantial
improvement of
gross profit ratio
Profit ratio (%)
20%
19.3%
22.9% 23.5% 22.8% 23.8%
24.5%
Operating profit ratio over 15
Cost reduction in
10%
0%
2.5%
9.7%
10.8% 10.0%
11.6% 11.7%
outsourced materials and components
Cost reduction in
FY12 FY13 FY14 FY15 FY16 FY17 FY20
direct labor
(Forecast)
(Target)
US GAAP IFRS
This slide includes forward-looking statements. See Disclaimer on Page 2. 16
Small Precision Motors: HDD Market Mid-Term Trend
(Millions of Units)
Server Application
600 PC External Consumer Electronics
Data Center Enterprise
(Near Line Drive)
102
80
80
100
289
100
500
552
32
35
564
32
37
73
100
469
33
37
400
424
25
43
Revised
downward from previous estimate
122
90
395
22
42
124
371
19
46
300
84
350
16
50
80
333
14
55
(Millions of Units)
100
80
200
100
(April 26, 2017)
271
100
100
207
172
151
126
104
84
0
•CY17 412 ⇒ 395
•CY18 394 ⇒ 371
•CY19 382 ⇒ 350
•CY20 375 ⇒ 333
'13
'14
'15
'16
'17
'18
'19
Nidec's estimates based on various sources.
'20
(CY)
This slide includes forward-looking statements. See Disclaimer on Page 2. 17
Small Precision Motors: HDD Market Short-Term Trend
HDD Shipments Nidec Motor Shipments (Millions of Units)
Previous FY2017 Forecast (July 26, 2017)
98
102 99
96
Revised FY2017 Forecast (October 25, 2017)
103
9698
Revised forecast for FY2017 HDD shipments
91
(Millions of Units)
82 82 8483
Q1 Q2 Q3 Q4
FY2017
Annual forecast
Previous forecast
HDD
shipments
395
Nidec motor shipments
331
Revised forecast
388
331
89
82 83 77
Q1 Q2 Q3 Q4
(Actual) (Forecast) (Forecast) (Forecast) (Actual)
(Actual)
(Forecast) (Forecast)
Nidec's estimates based on various sources. This slide includes forward-looking statements. See Disclaimer on Page 2.18
Automotive: Global EV Shift Accelerating
Some of the leading countries are set to ban sale of new gasoline/diesel cars
India France
U.K.
From 2030
From 2040
From 2040
China
A proposed regulation obliges OEMs to make 10% of their new cars sold in China "New Energy Vehicle" from 2019.
Zero emission is the key to both solving global warming and
V All vehicles launched from 2019 to be EV or HV.
G Over 20 models of EV and FCV to be released by 2023.
V Over 50 new EV models to be brought to market by 2025. Target annual shipment is 3 million units.
D Introducing EV or HV in all models by 2022.
T 2020 launch of EV mass production in consideration.
controlling air quality. OEMs are accelerating its adoption of EV technologies.
19
Automotive: Expansion of Automotive Motor Market
Innovations and regulations accelerating automotive electrification
Air flow (800 billion
Automotive motor
Chassis
yen)
Powertrain
market is expected
(400 billion
yen)
2030
(3.9 trillion yen)
to more than
Chassis
Air flow (600 billion yen)
2016
Powertrain
(1.5 trillion yen)
Body (900 billion
yen)
6 trillion
yen
double by 2030,
with acceleration in electrification
(200 billion yen)
Body
2.8 trillion
yen
(500 billion yen)
Nidec's estimates based on various sources. This slide includes forward-looking statements. See Disclaimer on Page 2. 20
Automotive: Shipment Outlook for Automotive Motors (Key Applications)
Orders building up steadily. Shipments expected to more than double in next four years.
(Million Units)
120
(Million Units)
120
*EPS: Electric Power Steering
100
100
80
80
60
60
40
40
20
20
0
0
Braking system
Sunroof
Seat adjustment Engine cooling Oil pump
Dual clutch
EPS *
FY16
FY17
FY18
FY19
FY20
FY16
FY17
FY18
FY19
FY20
21
Automotive: Strategy for Traction Related Products
Inquiries from OEMs / Tier 1s in China and Europe increasing
Entry plan for traction related products
1st Step
2nd Step
3rd Step
Target:
OEMs in emerging markets
Target: Mega Tier 1s
Target: OEMs
E-Axle
Motors, inverters and gears
E-Axle
1,000
(Billions of Yen)
100
800
80
600
60
400
40
200
20
Traction Motor System (E-Axle)
0
FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
This slide includes forward-looking statements. See Disclaimer on Page 2. 22
Appliance, Commercial and Industrial (ACI): Nidec Techno Motor in Full Utilization
(Billions of Yen)
25
Responding to a surge in demand for brushless DC motors in China triggered by heightened efficiency standards for air conditioners
Expected to maintain the highest levels
throughout theyearHistorical peak levels
20
Capacity constraints
15
10
5
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
(Forecast) (Forecast)
FY14 FY15 FY16 FY17
This slide includes forward-looking statements. See Disclaimer on Page 2. 23
ACI: Recently Acquired Businesses from Emerson (LS & CT)
Stable order flow sustained and PMI accelerated since the completion of acquisition
Nidec Leroy-Somer (LS), Power generator
business Nidec Leroy-Somer (LS), Motor & Drive business Nidec Control Techniques (CT)
Sales by application or product type
Grid-
Non- stationary 12%
Others 4%
Service 8%
Drives 5%
Elevators 13%
Factory
connected 17%
Off-grid remote
Off-grid standby 53%
Servo motors 11%
Perm. magnet motors 6%
Induction
motors 44%
Wind power
generator 19%
automa tion 44%
power plants 18%
Inverter-fed
induction motors 21%
Process automation
24%
Major customers
(Excerpts from reference presentation material "Acquisition of the Emerson Electric Co.'s Motor & Drives and Electric Power Generation Business" dated August 2, 2016) 24
Machinery: Nidec-Shimpo's Growth Strategy
Promoting synergies and driving fast topline growth through a series of acquisitions
Past acquisitions
April 2012 August 2015 March 2017
Strong sales & service network in Americas and Europe.
Medium- to large-sized high- speed and high-rigidity press machine line-ups.
High-precision extra-large transfer presses, presses for progressive dies, and servo presses (press capacity 250-2,500 tons).
Strong customer base consisting of European auto component manufacturers.
Servo feeding equipment with the highest speed and precision.
Press
(Billions of Yen)
100
80
Shimpo's products (excluding new products) New products
Press machines
Capacity constraints
machines
100.0
Net sales
60
New
40 products
20
0
FY14 FY15 FY16 FY17 FY18 FY19 FY20
(Forecast) (Target) (Target) (Target) 25
This slide includes forward-looking statements. See Disclaimer on Page 2.
Strategy for Factory Automation (FA) and Robotics
Price declines triggered by intense competition expand the compact robot market (payload: up to 10kg)
2017
2018
2019
2020
2020 onward
Nidec's
Applying FA/IoT to own factories
Japan, Asia
Americas and Europe, etc.
action plan
FA solution Commercializing robot modules
Project A Project B Project C
Start marketing Roll out i611 robot arm module for newly entering robot manufacturers
i611
Robot arm
Shipments
Unit price (red line)
¥2 mil.
(Nidec's estimates)
Unit price
Home appliance
Shipments
4 mil. units
¥1 mil.
Existing robot manufacturers
Logistics, food and service
2 mil. units
F, M, Y
A K and others
Industrial
2000 2010
Now
2020 2030 2035
This slide includes forward-looking statements. See Disclaimer on Page 2.
(CY) 26
Group 2
Group 1
Pilot production
lines
Large
atrium
Assembly inspection
technologies
AI (artificial intelligence)
Leading elemental
Coordination
technologies
27
Vietnam's Prime Minister Nguyen Xuan Phuc visited Nidec in June 2017. *ABS: Anti-lock Braking System
Start of mass production
Incorporation
Land development
ABLE reducers
Nidec-Shimpo
Land development
Start of mass production
FY18
Factory construction
Preparation for production
Factory construction
Preparation for production
Nidec Techno Motor
Company
Large Scale Investment in Hanoi, Vietnam (Hoa Lac Hi-tech Park)
Launching new factories successively to overcome capacity constraints on the back of continued firm demand
Expected products
Brushless DC motors for air- conditioners
FY17
Incorporation
FY19
FY20
Nidec-Read
Jigs for testing equipment
Feasibility study
(Investment schedule under consideration)
Nidec Elesys
Next generation ABS*
for motorbikes
Feasibility study
Investment expected in
FY2020
(mass production starts in FY2022)
Nidec Copal Electronics
Trimmers, switches, etc.
Feasibility study
(Investment schedule under consideration)
Nidec-Shimpo
Phase 2
(25ha)
Nidec Techno Motor
Phase 1
(25ha)
Conceptual drawing
Conceptual drawing
Nidec Center for Industrial Science
-Driving R&D activities aimed for forward-looking development and profit contribution
-Creating "Advanced Production System"
New businesses Robotics
1.
2.
3.
Mid- to long-term research catering to future demand
Support forward-looking development activities group wide Support short-term profit enhancement
technologies
Large triple- layered atrium
Processing pilot production lines,
Precision inspection equipment
Unmanned factory-flexible production lines
First section (completion of construction scheduled for January 2018)
28
M&A
Tokyo Maruzen Industry Co., Ltd. SV Probe Pte. Ltd.
Company Name
Tokyo Maruzen Industry Co., Ltd.
Headquarters
Chiba, Japan
Foundation
August 17, 2017 (succeeding company)
Principal Business
Development, manufacture, and sale of electric contact materials, contact rivets, and contact staking
Net sales
¥3,745 million (fiscal year ended March 31, 2017)
Ownership
Nidec Sankyo Corporation: 100%
Company Name
SV Probe Pte. Ltd.
Headquarters
Serangoon, Singapore
Foundation
1994
Principal Business
Manufacturing and sale of probe cards
Net sales
S$74.9 million (fiscal year ended June 30, 2017)
Closing
Scheduled for the end of October 2017
Others (13%)
Company C (4%)
(Billions of Yen)
40
30
M&A
driven
Tokyo Maruzen Industry Co., Ltd. (8%)
＋
Nidec Sankyo
CMI Corporation (25%)
Company T (50%)
Nidec's estimates based on
20
10
0
FY16 FY17 FY18 FY19 FY20
(Forecast) (Target) (Target) (Target)
Organic
29
various sources.
This slide includes forward-looking statements. See Disclaimer on Page 2.
CSR Vision 2020
Women's leadership: certification of "Eruboshi" & return-to-work program for employees in child rearing
Priority issues
Target
KPI
(Environment)
Environmental load reduction
Consistent reduction in energy consumptions and environmental emissions attributable to operations
5% reduction (intensity) from FY2015 benchmark
Environmental contribution through products
Quantitative assessment of product- specific environmental performance
Overall framework in place for measuring total CO2 emissions reduced per year
Environmental conservation
Active participation in local environmental conservation efforts
Specific action program in place at each business unit
(Society)
Diversity
A diverse workforce and leadership
Specific action program in place at each business unit
(Percentages of women in managerial positions: 8% for Nidec Corporation in Japan)
Globally competent talents
Training programs in place on a group- wide basis
Number of program participants or workshops held
(Governance)
Corporate ethics
Code of Conduct aligned with internationally accepted standards
EICC*-based CSR management system covering 80% of operations worldwide
Internal control
Consistent management soundness and transparency
Strict compliance with internationally accepted corporate governance guidelines
Risk management
Highly viable risk management procedures implemented on a global basis
Global risk management system adopted by all operations
E
S
Eruboshi certification is granted by the Minister of Health, Labour and Welfare based on the following five criteria:
Employment
Employment continuity
G
Workstyle including worktime
Percentage of women's management positions
Diverse career paths
Middle-rank status was granted for the following reasons:
-fulfillment 4 out of 5 above requirements
30
-performance boost in recent years in as-yet unmet criterion
*EICC: Electronics Industry Code of Conduct
Nidec IR Contacts
Japan Tel: +81-75-935-6140 E-mail: ir@nidec.com
U.K. Tel: +44-207-716-5884 E-mail: iwai.yuji@nidec.com
U.S. Tel: +1-212-703-7988 E-mail: nagase.kiyoshi@nidec.com
*Note:
During the three months ended September 30, 2017, Nidec Corporation partly completed its valuation of the assets acquired and the liabilities assumed upon the acquisition of motors, drives and electric power generation businesses of Emerson Electric Co. (currently Nidec Leroy-Somer Holding, Nidec Control Techniques Limited, etc.) As a result, consolidated financial statements for the three months and the year ended March 31, 2017 reflect the revision of the initially allocated amounts of acquisition price.
Nidec logo is a registered trademark or a trademark of Nidec Corporation in Japan, the United States and/or certain other countries.
"All for dreams" logo is a registered trademark of Nidec Corporation in Japan, and a trademark in the United States and/or certain other countries.
31
Appendix
Performance Trends & Product Group Overview32
This slide includes forward-looking statements. See Disclaimer on Page 2.
Q2/FY17
-2.9
(Forecast)
50.0
374
10.0%
11.4%
12.2%
22.0
11.4%
28.2
29.4
28.1
31.5
29.1
11.7%
31.9
33.6
39.0
36.3
287.8
37.5
13.0%
31.5
37.2
43.6
40.3
343.1
331.1
33.2
37.2
276.2
Operating profit Operating profit ratio (%)
372.8
Small Precision Motors
30.8%
(37.5%)
Other Small MotorsOptical disk drive motors, OA equipment motors,
polygon scanners motors, MPU cooling fans, game machine fans, PC/communications equipment fans, home appliance fans, automobile fans, vibration motors,
brushed motors, stepping motors,
actuator units
Auto
19.6%
(22.0%)
34.9%
(25.1%)
HDD Motors
13.1%
(16.0%)
9.5%
(9.6%)
4.9%
(5.5%)
Others
Sales by Product Group (Apr-Sep FY2017)
Parenthetic percentages represent FY2016 mix
0.3%
(0.3%) Services, music box products
Electronic & Optical Components
Camera shutters, switches,
trimmer potentiometers, processing, precision plastic mold products
Machinery
Industrial robots, circuit board testers, high-speed pressing machines, chip mounters, measuring equipment, power transmission equipment, factory automation system, card readers
Appliance
Commercial Industrial
715.9B
17.7%
（21.5%)
Automotive, Appliance,
Commercial and Industrial Products
54.6%
(47.1%)
33
Financial Highlights *Please refer to Notes on page 31.
(Billions of Yen)
Net sales
and Profit Attributable to Owners of the Parent>
(Billions of Yen)
Profit before income taxes Profit attributable to owners of the parent
41.5
304.2
Q1/FY16 Q2
Q3
Q4 Q1/FY17 Q2
Q1/FY16
Q2
Q3
Q4
Q1/FY17 Q2
(Yen/share)
(Billions of Yen)
Year-end Interim Consolidated EPS Operating activities Investment activities Free cash flow
432 (Forecast)
44.2
303
45.0
25.3
30.0
40.0
-18.9
40.0
40.0
45.0
-32.9
FY15
FY16
FY17
Q1/FY17
34
Product Group Overview
(Billions of Yen) (Billions of Yen)
*Please refer to Notes on page 31.
Sales Operating profit
Sales Operating profit
19.2 19.2
13.7
15.816.9
19.2
13.8
15.0
14.2
14.2
17.4
21.2
94.8 116.9 119.2 106.2 103.8116.7
138.3 127.4135.1
171.4 188.9201.7
Q1/FY16 Q2 Q3 Q4 Q1/FY17 Q2
Q1/FY16 Q2 Q3 Q4 Q1/FY17 Q2
(Billions of Yen)
Sales Operating profit
6.0 6.3 6.3
2.1
(Billions of Yen)
Sales Operating profit
2.82.9
2.1
3.1
2.5
4.9 5.35.6
27.1 26.7 32.7
35.7
32.6
35.3
15.2 15.9 16.3 16.8 16.9
18.1
Q1/FY16 Q2 Q3 Q4 Q1/FY17 Q2
(Billions of Yen)
Shareholders' equity (LHS)
Shareholders' equity ratio (RHS)
(%)
65%
55%
50.5%
49.1%
47.5%
46.2%
50%
The three elements for
ROE improvement
Net profit on sales
Total asset turnover
Financial leverage
Shareholders' equity ratio
745.0
ROE 16.3%
518.0
12.1% 12.0% 11.9%
15%
340.3
13.7%
355.3
11.6%
10%
8.9%
297.1
10.7%
370.2
2.5%
9.7%
10.8%
10.0%
5%
Q1/FY16 Q2 Q3 Q4 Q1/FY17 Q2 35
Vision 2020: Pursuing Both Strong Growth with Profit and Financial Soundness
Targeting operating profit ratio of 15% and ROE of 18% while sustaining and improving financial soundness
ROE (RHS)
Operating profit ratio (RHS)
1,500
60%
54.9%
55.4%
60%
1,200
44.4%
900
42.3%
41.3%
846.6
45%
763.0
600
18%
20%
15.0%
11.2%
415.7
13.8%
9.2%
300
Operating profit ratio
13.9%
15%
0
FY08
FY09 FY10 FY11
2.0%
FY12 FY13
FY14
FY15
FY16
FY20
(Target)
0%
US GAAP IFRS *Please refer to Notes on page 31.
This slide includes forward-looking statements. See Disclaimer on Page 2.
36
Nidec Corporation published this content on 25 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 October 2017 01:22:08 UTC.
Original documenthttp://www.nidec.com/en-Global/corporate/news/2017/news1025-01/
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