Nidec Announces Financial Results for Fiscal Year Ended March 31, 2019
KYOTO, Japan, April 23, 2019 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2019.
The highlights are as follows:
- Net sales increased 2% Y/Y to ¥1,518.3 billion, marking a record high.
- Operating profit decreased 17% Y/Y to ¥138.6 billion due to temporary expenses of ¥38.8 billion for streamlining factories, launching new products, and completing ongoing M&A deals.
- Profit before income taxes decreased 15% Y/Y to ¥139.0 billion.
- Profit attributable to owners of the parent decreased 15% Y/Y to ¥110.8 billion.
- EPS: 375.83 yen (basic and diluted)
- Year-end dividend: 55 yen per share
- Annual dividend: 105 yen per share
| Selected Consolidated Results of Operations (Unaudited) | ||||||||
| Yen in millions, except for per share amounts and percentages | Year ended March 31 |
Increase (Decrease) % |
Three months ended March 31 |
Increase (Decrease) % |
||||
| 2019 | 2018 | 2019 | 2018 | |||||
| Net sales | 1,518,320 | 1,488,090 | 2.0% | 364,014 | 382,169 | (4.8%) | ||
| Operating profit | 138,620 | 166,842 | (16.9%) | 9,528 | 40,682 | (76.6%) | ||
| Ratio of operating profit to net sales | 9.1% | 11.2% | - | 2.6% | 10.6% | - | ||
| Profit before income taxes | 139,014 | 163,665 | (15.1%) | 7,991 | 44,909 | (82.2%) | ||
| Ratio of profit before income taxes to net sales | 9.2% | 11.0% | - | 2.2% | 11.8% | - | ||
| Profit attributable to owners of the parent | 110,798 | 130,834 | (15.3%) | 7,798 | 36,850 | (78.8%) | ||
| Ratio of profit attributable to owners of the parent to net sales | 7.3% | 8.8% | - | 2.1% | 9.6% | - | ||
| Earnings per share attributable to owners of the parent -Basic |
375.83 | 441.91 | - | 26.50 | 124.48 | - | ||
| Earnings per share attributable to owners of the parent -Diluted |
375.83 | 441.91 | - | 26.50 | 124.48 | - | ||
Full copy of Nidec’s financial statements for the year ended March 31, 2019:
https://www.nidec.com/en-Global/ir/news/2019/news0423-01/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2019 is scheduled for 09:00 a.m. EST on Wednesday, April 24, 2019. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY18Q4/
About Nidec Corporation
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the year ended March 31, 2019, 29.1% of its consolidated sales were represented by small precision motors; 19.6% by automotive products; 35.5% by appliance, commercial and industrial products; 10.8% by machinery; 4.8% by electronic and optical components, and 0.3% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current Chairman and CEO.
| Contact: | |
| Masahiro Nagayasu | |
| General Manager | |
| Investor Relations | |
| +81-75-935-6140 | |
| ir@nidec.com | |
