Nidec Announces Differences Between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 and Revision to Year-End Dividend Forecast KYOTO, Japan, April 23, 2013 (GLOBE NEWSWIRE) -- Nidec Corporation (the "Company") (NYSE:NJ) today announced differences between its financial forecast for the year ended March 31, 2013 (announced on January 24, 2013) and the actual financial results released today. The Company also announced that it would revise its year-end dividend forecast for the year ended March 31, 2013, which is to be approved at a meeting of the Company's Board of Directors scheduled for May 28, 2013. The details are as follows. 1. Differences between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 (U.S. GAAP) From April 1, 2012 to March 31, 2013 (Millions of Yen, except per share amounts and percentages) For the year ended March 31, 2013 For the year endedMarch 31, 2012 Forecast announced Actual Change Change on January 24, (amount) (%) 2013 Net sales 690,000 709,270 19,270 2.8 682,320 Operating income 20,000 17,627 (2,373) (11.9) 73,070 Income from continuing operations 12,500 13,427 927 7.4 70,856 before income taxes Net income attributable 4,500 7,998 3,498 77.7 40,731 to the Company Net income Attributable to 33.37 59.37 -- -- 296.25 Nidec Corporation per share-basic The Company sees its net sales for the fiscal year 2012 in line with its expectations, but operating income fell short of the Company's expectation due to increased selling costs and general, administrative expenses. In the meantime, income from continuing operations before income taxes increased due to factors including foreign exchange gains deriving from Yen's depreciation. Net income attributable to the Company also increased to exceed the Company's expectation mainly because of positive tax effects and decreased non-controlling interests. 2. Revision to Year-end Dividend Forecast for Fiscal Year Ended March 31, 2013 Dividend per share (Yen) for the year ended March 31, 2013 Interim Year end Full year Previous Forecast -- 35 80 (as of January. 24, 2013) Revised Forecast -- 40 85 Dividend Paid 45 -- -- <Reference> Dividend per share (Yen) for the year ended March 31, 2012 Interim Year end Full year Dividend Paid 45 45 90 The Company upholds shareholder-oriented management and places importance on regular dividend payments, seeking to increase its dividend payout to around 30% of the consolidated net income. For the fiscal year ended March 31, 2013, in addition to the interim dividend of ¥45.0 per share already paid, the Company intends to pay a year-end dividend of 40.0 Yen per share, an increase of ¥5.0 per share from the amount previously announced. As a result, together with the interim dividend of ¥45.0 per share, the full-year dividend will be ¥85.0 per share. CONTACT: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 email@example.com Nidec Corporation
Nidec Announces Differences Between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 and Revision to
Press spacebar to pause and continue. Press esc to stop.