Nidec Announces Financial Results for Fiscal Year Ended March 31, 2016
April 25, 2016 at 03:50 am EDT
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KYOTO, Japan, April 25, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the fiscal year ended March 31, 2016. The highlights are as follows:
Record-high full-year net sales for four consecutive years.
Operating income, income before tax and net income increased for three consecutive years, following the structural reform in FY2012.
Operating income ratio on automotive, appliance, commercial and industrial products exceeded 10% in the three-month period ended March 31, 2016, driving the company’s business portfolio transformation.
Cash and cash equivalents exceeded interest-bearing debt for the first time in six years, resulting in approx. 5.2 billion yen net cash at end-March 2016. Cash conversion cycle shortened by 7 days to 66 days, and working capital saved by 11.2 billion yen compared to the same time of the previous year.
EPS (diluted): 308.19 yen
Year-end dividend: 40 yen per share (Annual dividend: 80 yen per share)
Consolidated Results of Operations (unaudited)
Yen in millions (except for per share amounts and percentages)
Year ended March 31
Increase (Decrease) %
Three months ended March 31
Increase (Decrease) %
2016
2015
2016
2015
(unaudited)
(unaudited)
Net sales
1,178,290
1,028,385
14.6
282,937
274,619
3.0
Operating income
124,538
110,939
12.3
30,548
30,212
1.1
Ratio of operating income to net sales
10.6
%
10.8
%
-
10.8
%
11.0
%
-
Income before income taxes
119,328
107,092
11.4
24,971
25,783
-3.1
Ratio of income from continuing operations before income taxes to net sales
10.1
%
10.4
%
-
8.8
%
9.4
%
-
Net income attributable to Nidec Corporation
91,810
76,015
20.8
20,882
17,984
16.1
Ratio of net income attributable to Nidec Corporation to net sales
7.8
%
7.4
%
-
7.4
%
6.5
%
-
Net income attributable to Nidec Corporation stockholders per share-basic
309.32
271.61
-
70.41
62.54
-
Net income attributable to Nidec Corporation stockholders per share-diluted
308.19
256.05
-
70.41
59.78
-
Full copy of Nidec’s financial statements for the year ended March 31, 2016: http://www.nidec.com/en-Global/ir/news/2016/news0425-01/ A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2016 is scheduled for 09:00 a.m. EDT on Tuesday, April 26, 2016. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY15Q4/
About Nidec Corporation Nidec Corporation (NYSE: NJ; Tokyo: 6594) is a global leader in electric motor drive technology. For the year ended March 31, 2016, 38.0% of its consolidated sales were represented by small precision motors; 24.1% by appliance, commercial and industrial products; 23.0% by automotive products; 9.0% by machinery; 5.4% by electronic and optical components, and 0.4% by the remaining products 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
ir@nidec.com
Nidec Corporation specializes in the development, manufacturing and marketing of small precision motors and automotive and appliance components. Net sales break down by family of products as follows:
- appliances, air-conditioning and industrial equipment motors (40.5%);
- small precision motors (21.9%): pin motors for hard drives, fan motors, vibrating motors, brush motors and motor applications, etc. ;
- automotive components (21.3%);
- machines (12.1%): industrial robots, card readers, test systems, presses and power transmission drives, etc. ;
- electronic and optical components (3.9%): switches, trimmer potentiometers, lens units and camera shutters, etc. ;
- other (0.3%).
The net sales are distributed geographically as follows: Japan (17.8%), China (26.7%), the United States (21.6%), Germany (6.1%), Italy (5.5%), Thailand (5.2%) and other (17.1%).