Nidec Q4 Profit Climbs On Higher Sales; Declares Dividend

(RTTNews) - Nidec Corp. (NJ), a manufacturer of electric motors and related components, reported Monday that its fourth-quarter net income attributable to the company climbed 16.1 percent to 20.88 billion Japanese yen or 70.41 yen per share from last year's 17.98 billion yen or 59.78 yen per share.

Net sales increased 3 percent to 282.94 billion yen from 274.62 billion yen a year ago.

For fiscal 2016, attributable net income grew 20.8 percent to 91.81 billion yen and net sales improved 14.6 percent to 1.18 trillion yen.

Further, the company announced year-end dividend of 40 yen per share, resulting in annual dividend of 80 yen per share.

In Japan, Nidec shares closed today's trading at 7,850 yen, down 0.32 percent.