NJDCY Nidec Corporation (PK)

Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the fiscal year ended March 31, 2016. The highlights are as follows:

• Record-high full-year net sales for four consecutive years.
• Operating income, income before tax and net income increased for three consecutive years, following the structural reform in FY2012.
• Operating income ratio on automotive, appliance, commercial and industrial products exceeded 10% in the three-month period ended March 31, 2016, driving the company’s business portfolio transformation.
• Cash and cash equivalents exceeded interest-bearing debt for the first time in six years, resulting in approx. 5.2 billion yen net cash at end-March 2016. Cash conversion cycle shortened by 7 days to 66 days, and working capital saved by 11.2 billion yen compared to the same time of the previous year.
• EPS (diluted): 308.19 yen
• Year-end dividend: 40 yen per share (Annual dividend: 80 yen per share)

Consolidated Results of Operations (unaudited)	Yen in millions (except for per share amounts and percentages)
	Year endedMarch 31						Increase (Decrease)%	Three months endedMarch 31						Increase (Decrease)%
		2016			2015				2016			2015
	(unaudited)							(unaudited)
Net sales		1,178,290			1,028,385		14.6		282,937			274,619		3.0
Operating income		124,538			110,939		12.3		30,548			30,212		1.1
Ratio of operating income to net sales		10.6	%		10.8	%	-		10.8	%		11.0	%	-
Income before income taxes		119,328			107,092		11.4		24,971			25,783		-3.1
Ratio of income from continuing operations before income taxes to net sales		10.1	%		10.4	%	-		8.8	%		9.4	%	-
Net income attributable to Nidec Corporation		91,810			76,015		20.8		20,882			17,984		16.1
Ratio of net income attributable to Nidec Corporation to net sales		7.8	%		7.4	%	-		7.4	%		6.5	%	-
Net income attributable to Nidec Corporation stockholders per share-basic		309.32			271.61		-		70.41			62.54		-
Net income attributable to Nidec Corporation stockholders per share-diluted		308.19			256.05		-		70.41			59.78		-

Full copy of Nidec’s financial statements for the year ended March 31, 2016: http://www.nidec.com/en-Global/ir/news/2016/news0425-01/A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2016 is scheduled for 09:00 a.m. EDT on Tuesday, April 26, 2016. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY15Q4/

About Nidec CorporationNidec Corporation (NYSE: NJ; Tokyo: 6594) is a global leader in electric motor drive technology. For the year ended March 31, 2016, 38.0% of its consolidated sales were represented by small precision motors; 24.1% by appliance, commercial and industrial products; 23.0% by automotive products; 9.0% by machinery; 5.4% by electronic and optical components, and 0.4% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO. 

Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com