DGAP-News: Nidec Announces Financial Results for Third Quarter and Nine Months Ended December 31, 2010
25.01.2011
Nidec Corporation
25.01.2011 07:40
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KYOTO, Japan, 2011-01-25 07:40 CET (GLOBE NEWSWIRE) --Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S.
GAAP for the third quarter (October-December 2010) and nine months
(April-December 2010) of its fiscal year ending March 31, 2011.
The following are the highlights:
-- Nine-month Operating Income Up Over 40% Y/Y to a Record High.
-- General Motors* (including formerly Emerson Motors & Controls operations)
Nine-month Operating Income Swung to Positive.
-- Projected Year-end Dividend and Annual Dividend Revised Upward to 45 Yen
(Up 5 Yen), and 85 Yen, Respectively.
* The product group previously classified as 'Mid-size Motors' has been renamed
'General Motors,' reflecting the inclusion of Large-size motor lines of U.S.
Emerson's Motors & Controls operations (acquisition transaction completed on
Sep. 30, 2010).
Consolidated Results of Yen in millions (except for per share amounts)
Operations (unaudited)
----------------------------------------------------
Nine months Increa Three months Increas
ended se ended e
December 31 (Decre December 31 (Decrea
ase) se)
------------------ ------------------
2010 2009 2010 2009
----------------------------------------------------
(unaudited) (unaudited)
----------------------------------------------------
Net sales 520,046 421,134 23.5% 179,255 152,391 17.6%
Operating income 73,551 51,837 41.9% 22,029 23,516 (6.3%)
Ratio of operating income 14.1% 12.3% -- 12.3% 15.4% --
to net sales
Income from continuing 61,330 47,773 28.4% 20,037 25,299 (20.8%)
operations before income
taxes
Ratio of income from 11.8% 11.3% -- 11.2% 16.6% --
continuing operations
before income taxes to
net sales
Net income attributable to 40,830 30,103 35.6% 13,816 16,315 (15.3%)
Nidec Corporation
Ratio of net income 7.9% 7.1% -- 7.7% 10.7% --
attributable to Nidec
Corporation to net sales
Net income attributable to 293.02 216.12 -- 99.08 117.13 --
Nidec Corporation
stockholders per
share-basic
Net income attributable to 285.75 -- -- 92.72 --
Nidec Corporation
stockholders per
share-diluted
----------------------------------------------------
Full copy of the financial statements for Nidec's third quarter and nine months
ended December 31, 2010:
http://www.nidec.co.jp/english/ir/lib/indexdata2/2011/Q3_3.pdf
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, 2010 is scheduled for 09:00 a.m. EST on Tuesday, January 25, 2011. To
listen to the webcast, please visit Nidec website at:
http://www.nidec.co.jp/english/ir/information/FY10Q3
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo/Osaka: 6594) is a global leader in electric
motor drive technology. For the nine months ended December 31, 2010, 'Small
Precision Motors' and 'General Motors' represented 65.5% of the total sales;
'Electronic and Optical Components,' 'Machinery,' and 'Others' comprised the
remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its
current President and CEO.
The Nidec Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1734
CONTACT: Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@jp.nidec.com
News Source: NASDAQ OMX
25.01.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Nidec Corporation
Japan
Phone:
Fax:
E-mail:
Internet:
ISIN: JP3734800000
WKN:
End of Announcement DGAP News-Service
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Nidec Corporation
25.01.2011 07:40
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KYOTO, Japan, 2011-01-25 07:40 CET (GLOBE NEWSWIRE) --Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S.
GAAP for the third quarter (October-December 2010) and nine months
(April-December 2010) of its fiscal year ending March 31, 2011.
The following are the highlights:
-- Nine-month Operating Income Up Over 40% Y/Y to a Record High.
-- General Motors* (including formerly Emerson Motors & Controls operations)
Nine-month Operating Income Swung to Positive.
-- Projected Year-end Dividend and Annual Dividend Revised Upward to 45 Yen
(Up 5 Yen), and 85 Yen, Respectively.
* The product group previously classified as 'Mid-size Motors' has been renamed
'General Motors,' reflecting the inclusion of Large-size motor lines of U.S.
Emerson's Motors & Controls operations (acquisition transaction completed on
Sep. 30, 2010).
Consolidated Results of Yen in millions (except for per share amounts)
Operations (unaudited)
----------------------------------------------------
Nine months Increa Three months Increas
ended se ended e
December 31 (Decre December 31 (Decrea
ase) se)
------------------ ------------------
2010 2009 2010 2009
----------------------------------------------------
(unaudited) (unaudited)
----------------------------------------------------
Net sales 520,046 421,134 23.5% 179,255 152,391 17.6%
Operating income 73,551 51,837 41.9% 22,029 23,516 (6.3%)
Ratio of operating income 14.1% 12.3% -- 12.3% 15.4% --
to net sales
Income from continuing 61,330 47,773 28.4% 20,037 25,299 (20.8%)
operations before income
taxes
Ratio of income from 11.8% 11.3% -- 11.2% 16.6% --
continuing operations
before income taxes to
net sales
Net income attributable to 40,830 30,103 35.6% 13,816 16,315 (15.3%)
Nidec Corporation
Ratio of net income 7.9% 7.1% -- 7.7% 10.7% --
attributable to Nidec
Corporation to net sales
Net income attributable to 293.02 216.12 -- 99.08 117.13 --
Nidec Corporation
stockholders per
share-basic
Net income attributable to 285.75 -- -- 92.72 --
Nidec Corporation
stockholders per
share-diluted
----------------------------------------------------
Full copy of the financial statements for Nidec's third quarter and nine months
ended December 31, 2010:
http://www.nidec.co.jp/english/ir/lib/indexdata2/2011/Q3_3.pdf
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, 2010 is scheduled for 09:00 a.m. EST on Tuesday, January 25, 2011. To
listen to the webcast, please visit Nidec website at:
http://www.nidec.co.jp/english/ir/information/FY10Q3
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo/Osaka: 6594) is a global leader in electric
motor drive technology. For the nine months ended December 31, 2010, 'Small
Precision Motors' and 'General Motors' represented 65.5% of the total sales;
'Electronic and Optical Components,' 'Machinery,' and 'Others' comprised the
remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its
current President and CEO.
The Nidec Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1734
CONTACT: Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@jp.nidec.com
News Source: NASDAQ OMX
25.01.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Nidec Corporation
Japan
Phone:
Fax:
E-mail:
Internet:
ISIN: JP3734800000
WKN:
End of Announcement DGAP News-Service
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