Nidec Turns To Profit In Q4 - Quick Facts

(RTTNews) - Japanese electric motors company Nidec Corp. (NJ) Tuesday reported fourth-quarter net income attributable to the company of 13.35 billion yen or 45.39 yen per share, compared to a loss of 19.11 billion yen or break even per share in the prior year.

Net sales climbed 22.7 percent to 228.38 billion yen from 186.06 billion yen reported last year.

Separately, Nidec announced that Nidec and its two listed subsidiaries, Nidec-Read Corp., and Nidec Copal Electronics Corp., have resolved at their respective board meetings held on April 22, 2014 to enter into share exchange transactions under which Nidec will make Nidec-Read and Nidec Copal Electronics its wholly owned subsidiaries.