Nidec Revises IFRS Financial Forecasts; Increases Year-end Dividend Projections

(RTTNews) - Nidec Corp. (NJDCY.PK) said the financial results for the six months ended September 30, 2016 exceeded its expectations at the beginning of the period. In view of the favorable profit growth in the first six months, the company has decided to revise its previously announced IFRS-based financial performance forecasts for the fiscal year ending March 31, 2017. Based on the revision to the consolidated financial forecasts for the year ending March 31, 2017, the company has revised upward its year-end dividend projections for the year ending March 31, 2017 to 45.00 yen per share from 40.00 yen per share, making the projected aggregate annual dividend 85.00 yen per share.

For the year ending March 31, 2017, the company now expects profit attributable to owners of the parent of 100 billion yen or 337.15 yen per share, compared to its previous forecast of 98 billion yen or 330.41 yen per share. Net sales are now projected to be 1.20 trillion yen compared to prior forecast of 1.25 trillion yen.