Nidec Announces Financial Results for Fiscal Six Months Ended September 30, 2009

Mon Oct 26, 2009 2:31am EDT
 
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KYOTO, Japan, Oct. 26, 2009 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ)
today announced its financial results under U.S.GAAP for the period of April 1,
2009 to September 30, 2009.

The following are the highlights:

Profitability improvement taking hold, maintaining a double-digit operating
margin despite lower sales.

 * Net sales:                                 Down 26.0% Y/Y
 * Operating income:                          Down 30.5% Y/Y
 * Operating margin:                          10.5% (1H FY2008: 11.2%)
 * Income from continuing operations
    before income tax:                        Down 48.2% Y/Y
 * Net income attributable to Nidec:          Down 50.5% Y/Y
 * Net income per share (primary)
    attributable to Nidec:                    98.99 Yen
 * Net income per share (diluted)
    attributable to Nidec:                    98.99 Yen
Consolidated Financial Results

                                               Japanese yen (millions
                                              except per share amounts)
                                              ------------------------
                                                  Six months ended
                                                   September 30,
                                              ------------------------
                                                2009           2008
                                              ------------------------

  Net sales                                    268,743        363,276
    Y/Y change %                                 (26.0%)          2.7%
  Operating income                              28,321         40,778
    Y/Y change %                                 (30.5%)         18.9%
  Income from continuing operations before
   income taxes                                 22,474         43,379
    Y/Y change %                                 (48.2%)         36.5%
  Net income                                    13,788         27,840
    Y/Y change %                                 (50.5%)         36.8%
  Net income per share, primary                  98.99         192.06
  Net income per share, diluted                  98.99         186.56
 ----------------------------------------
Note: Prior-period statements have been retrospectively restated to reflect the
reclassification of discontinued operations in accordance with ASC205-20
(Presentation of Financial Statements-Discontinued Operations).

Full copy of Nidec's earnings release:
http://www.nidec.co.jp/english/ir/lib/indexdata2/2010/Q2_3.pdf

A conference call webcast (listen only, user-control slides attached) discussing
Nidec's financial results for the six months ended September 30, 2009 is
scheduled for 09:00 a.m. EDT (13:00 p.m. BST) on Tuesday, October 27, 2009. To
listen to the webcast, please visit Nidec website at:
http://www.nidec.co.jp/english/ir/information/FY09Q2

About Nidec Corporation

Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric
motor drive technology. For the six months ended September 30, 2009, small
precision motors and mid-size motors represented 70.8% of the total sales;
electronic and optical components, machinery and other products 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

-0-
CONTACT:  Nidec Corporation
          Investor Relations
          Masahiro Nagayasu, General Manager
          +81-75-935-6140
          ir@jp.nidec.com

 

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