Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2018

KYOTO, Japan, Jan. 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 period of April 1, 2018 through December 31, 2018.

The highlights are as follows:

• Nidec announced a downward revision to its FY2018 full-year forecast on January 17, 2019 due to the worsening of the business environment that became evident in November and lingered through the rest of the quarter. For the details, please refer to the press release:
  https://www.nidec.com/en-Global/ir/news/2019/news0117-01/
• Nine months net sales, operating profit, profit before income taxes and profit attributable to owners of the parent increased to record highs.
• Nidec’s profitability enhancement program focused on purchase costs reduction is underway on a group-wide basis to achieve the revised FY2018 targets.
• EPS: ￥349.90 (basic and diluted)

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions, except for per share amounts and percentages	Nine months ended December 31,		Increase (Decrease) %	Three months ended December 31,		Increase (Decrease) %
	2018	2017		2018	2017
Net sales	1,154,306	1,105,921	4.4%	376,702	390,031	(3.4%)
Operating profit	129,367	126,160	2.5%	31,130	44,395	(29.9%)
Ratio of operating profit to net sales	11.2%	11.4%	-	8.3%	11.4%	-
Profit before income taxes	131,298	118,756	10.6%	33,031	42,973	(23.1%)
Ratio of profit before income taxes to net sales	11.4%	10.7%	-	8.8%	11.0%	-
Profit attributable to owners of the parent	103,214	93,984	9.8%	24,704	34,563	(28.5%)
Ratio of profit attributable to owners of the parent to net sales	8.9%	8.5%	-	6.6%	8.9%	-
Earnings per share attributable to owners of the parent -Basic	349.90	317.43	-	83.94	116.74	-
Earnings per share attributable to owners of the parent -Diluted	349.90	317.43	-	83.94	116.74	-

Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2018:
http://www.nidec.com/en-Global/ir/news/2019/news0123-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2018 is scheduled for 09:00 a.m. EST on Wednesday, January 23, 2019. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY18Q3/

About Nidec Corporation

Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the nine months ended December 31, 2018, 29.7% of its consolidated sales were represented by small precision motors; 19.4% by automotive products; 34.9% by appliance, commercial and industrial products; 10.8% by machinery; 4.9% 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.

NIDEC CORPORATION CORPORATE OFFICE: 338 KUZETONOSHIRO-CHO, MINAMI-KU, KYOTO 601-8205 JAPAN PHONE: KYOTO +81-75-935-6140  FAX: +81-75-935-6141 URL: https://www.nidec.com/en-Global/  

Contact:

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com