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 | |
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
