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01.02.2005 18:06:00
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Nidec Announces Financial Results for the Nine Months Ended December 3
Business Editors
KYOTO, Japan--(BUSINESS WIRE)--Feb. 1, 2005--Nidec Corporation (NYSE: NJ; TSE: 6594) announced today its financial results under U.S.GAAP for the nine months ended December 31, 2004. Here are highlights:
| -- | For consolidated financial results for the first nine months ended December 31, 2004, both net sales and profits increased to double the amount recorded in the same nine month period of the previous year, a continuous trend from 6 months ended September 30, 2004. |
| -- | Consolidated net income increased by 111% to Yen 24,145 million. |
| -- | For the three months ended December 31, 2004, consolidated net sales increased to double the amount by approximately Yen 63,900 million, or 99.5%, to Yen 128,224 million, compared to the same period in the previous year. |
| -- | For the three months ended December 31, 2004, operating income increased by Yen 7,800 million, or 117.9%, as compared to the same period of the previous year to Yen 14,481 million, which recorded more than double the amount from the same period in the previous year. |
| -- | Net income before tax increased significantly by Yen 6,500 million as compared to the same period of the previous year, to Yen 12,182 million for three months ended December 31, 2004. |
| -- | The significant increases in net sales for the three months ended December 31, 2004 were mainly driven by a) the impact of consolidation of the group companies, Nidec Copal Corporation, Nidec Copal Electronics Corporation and Sankyo Seiki Mfg. Co., Ltd. which accounts for approximately Yen 54,600 million, and b) strong net sales increases in almost every business segment compared to the previous year, in particular "small precision motors" (up 33.9%), DC motors (up 78%), spindle motors for HDD (up 18%), and fan motors (up 43%). |
A table of financial highlights is as follows:
Selected Consolidated Financial Performance
(1) Consolidated Financial Results (from April 1, 2004 to December 31, 2004)
Japanese yen (millions except per share amounts) ------------------------------- Nine months ended Year ended December 31, March 31, ------------------------------- 2004 2003 2004 ------------------------------- Net sales Y364,629 Y183,321 Y277,497 Operating income 38,577 17,972 22,015 Income before income taxes and minority interests 39,614 15,227 19,639 Net income 24,145 11,444 16,089 Net income per share, primary Y348.33 Y179.22 Y251.14 Net income per share, diluted Y331.50 Y172.42 Y241.53 ===============================
Notes:
1. Percentage change indicates the change relative to the same period of the previous fiscal year.
2. Average number of shares issued and outstanding (consolidated): 69,315,582 shares for the nine months ended December 31, 2004 63,855,298 shares for the nine months ended December 31, 2003 64,062,509 shares for the year ended March 31, 2004
(2) Consolidated Financial Results (from October 1, 2004 to December 31, 2004)
Japanese yen (millions except per share amounts) ------------------------------- Three months ended December 31, ------------------------------- 2004 2003 ----------------------------- Net sales Y128,224 Y64,281 Operating income 14,481 6,646 Income before income taxes and minority interests 12,182 5,658 Net income 8,096 3,042 Net income per share, primary Y114.60 Y47.29 Net income per share, diluted Y109.15 Y44.80 =============================
Notes:
1. Percentage change indicates the change relative to the same period of the previous fiscal year.
2. Average number of shares issued and outstanding (consolidated): 70,645,539 shares for the three months ended December 31, 2004 64,322,012 shares for the three months ended December 31, 2003
For more information and a full copy of Nidec's financial results release, please visit our webpage at http://www.nidec.co.jp/english/
About Nidec Corporation
Nidec Corporation (NYSE: NJ; TSE: 6594) is the global leader in drive-technology products, focusing on brushless DC motors. One of 19 Japanese companies listed on the New York Stock Exchange, Nidec is among the top 5% listed Japanese companies by market capitalization. Nidec manufactures small precision motors and mid-size motors which comprise 64% of its total sales; machinery and other products comprise the remainder. Nidec has 110 group companies in 14 countries employing 80,000 people. The Company was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
--30--MW/ny*
CONTACT: Nidec Corporation Hiroshi Toriba, +81-75-935-6140 hiroshi_toriba@notes.nidec.co.jp
KEYWORD: JAPAN INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: HARDWARE TELECOMMUNICATIONS SOFTWARE NETWORKING EARNINGS SOURCE: Nidec Corporation
Copyright Business Wire 2005
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