Nidec Corporation
Nidec Announces Financial Results for Nine Months Ended December 31, 2008
Nidec Corporation / Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- KYOTO, Japan, Jan. 29, 2009 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its financial results under U.S. GAAP for the period of April 1, 2008 to December 31, 2008. The following are the highlights: * Net sales: Down 7.8% Y/Y * Operating income: Down 11.7% Y/Y * Income from continuing operations before income tax: Down 23.7% Y/Y * Net income: Down 32.8% Y/Y * Diluted EPS: 155.94 yen Note: In accordance with the SFAS No.144, the optical pickup business has been reclassified as discontinued operations. Relevant prior-period statements have been retrospectively restated to reflect this reclassification. Consolidated Financial Results Japanese yen (millions except per share amounts) --------------------------------------- Nine months ended Year ended December 31, March 31, --------------------------------------- 2008 2007 2008 --------------------------------------- Net sales 506,406 549,221 728,756 Y/Y change (%) (7.8%) 22.8% -- Operating income 50,816 57,537 77,542 Y/Y change (%) (11.7%) 15.8% -- Income from continuing operations before income taxes 41,303 54,115 64,255 Y/Y change (%) (23.7%) 5.3% -- Net income from continuing operations 25,618 34,579 41,879 Y/Y change (%) (25.9%) -- -- *Net income from discontinued operations (2,555) (276) (723) Net income 23,063 34,303 41,156 Y/Y change (%) (32.8%) 14.1% -- Net income per share, primary 159.42 236.73 -- Net income per share, diluted 155.94 230.28 -- Full copy of Nidec's earnings release: http://www.nidec.co.jp/english/ir/indexdata_e/2009/0129_3.pdf A conference call webcast (listen only, user-control slides attached) discussing Nidec's Q3FY2008 results is scheduled for 09:00 a.m. EST (14:00 p.m. GMT) on Thursday, January 29, 2009. To listen to the webcast, please visit Nidec website at: http://www.nidec.co.jp/english/ir/information/FY08Q3 About Nidec Corporation Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in motor drive technology, with 130,000 employees and 140 group companies worldwide. For the nine months ended December 31, 2008, Small Precision Motors and Mid-size Motors represented 63.6% of Nidec's total sales; Electronic and Optical components, machinery and other products comprised the remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO. The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734 CONTACT: Nidec Corporation Investor Relations Masahiro Nagayasu, General Manager +81-75-935-6140 ir@jp.nidec.com News Source: NASDAQ OMX 29.01.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Nidec Corporation Japan Phone: Fax: E-mail: Internet: ISIN: JP3734800000 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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