Nidec Revises Upward Consolidated Fiscal First-Half and Year-End Financial Forecasts and Dividend Projections for the Year

Nidec Revises Upward Consolidated Fiscal First-Half and Year-End Financial Forecasts and Dividend Projections for the Year Ending March 31, 2015  KYOTO, Japan, July 23, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company") today announced an upward revision to its U.S. GAAP-based consolidated fiscal first-half and year-end financial forecasts and dividend projections for the year ending March 31, 2015, originally announced on April 22, 2014.  Revised consolidated financial forecasts (U.S. GAAP) for the six months ending September 30, 2014  From April 1, 2014 to September 30, 2014 (Millions of yen, except for per share amounts and percentages)                       For the six months ending September 30,                         2014                        Previous                                (Reference)                        forecast    Revised  Change   Change    For the six                       (April 22,  Forecast (amount) (percent) months                        2014)                                   ended September                                                                30, 2013 Net sales              450,000     460,000  10,000   2.2%      429,634 Operating income       45,000      50,000   5,000    11.1%     39,337 Income before taxes    44,000      49,000   5,000    11.4%     38,441 Net income attributable to Nidec  29,500      33,500   4,000    13.6%     27,103 Corporation Net income attributable to Nidec  106.96      121.46   --       --        100.99 Corporation per share-basic*  Revised consolidated financial forecasts (U.S. GAAP) for the year ending March 31, 2015  From April 1, 2014 to March 31, 2015 (Millions of yen, except for per share amounts and percentages)                         For the year ending March 31, 2015                               Previous                               (Reference)                         forecast   Revised  Change   Change    For the year                          (April 22, Forecast (amount) (percent) ended                          2014)                                  March 31, 2014 Net sales                950,000    960,000  10,000   1.1 %     875,109 Operating income         100,000    105,000  5,000    5.0 %     85,068 Income before taxes      98,000     103,000  5,000    5.1 %     84,664 Net income attributable  65,000     69,000   4,000    6.2 %     56,404 to Nidec Corporation Net income attributable to Nidec Corporation per 235.67     250.18   --       --        207.31 share-basic*  * The Company implemented a two-for-one stock split of its common stock effective April 1, 2014. The previously reported net income attributable to Nidec Corporation per share-basic has been retroactively adjusted to reflect the stock split.  Reasons for the revision for the financial forecasts  Net sales and resulting profit for the three months ended June 30, 2014 exceeded the Company's expectations at the beginning of the period. In view of the favorable quarterly results, the Company has decided to revise upward its previously announced financial performance forecasts for six months ending September 30, 2014 and the fiscal year ending March 31, 2015 largely to the extent that the three-month results exceeded its original expectations.  Notes:  The exchange rates used for the preparation of the foregoing forecasts are US$1 = JPY100 and Euro1 = JPY135. The exchange rates between the relevant Asian currencies and the Japanese yen used for the preparation of the foregoing forecasts were determined assuming these exchange rates.  Revised interim and year-end dividend projections for the year ending March 31, 2015  Dividends per share (Yen) for the year ending March 31, 2015                                           Annual Dividends Per Share                     First       Second      Third       Fourth      Full Year                      Quarter-end Quarter-end Quarter-end Quarter-end Previous projection (as of April 22,     --          27.50       --          27.50       55.00 2014) Revised projection   --          30.00       --          30.00       60.00 Divided paid for the year                 --          --          --          --          -- ending March 31, 2015 <Reference> Dividend paid for the year             --          45.00       --          55.00       100.00 ended March 31, 2014*  *The Company implemented a two-for-one stock split on its common stock as of March 31, 2014. Dividends paid for the year ended March 31, 2014 represent the actual payment amounts on a pre-split basis.  Reasons for the revision for dividend projections  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. Based on the stated upward revision to the Company's consolidated financial forecasts for the year ending March 31, 2015, the Company has revised upward both its interim and year-end dividend projections for the year ending March 31, 2015 from 27.50 yen per share to 30.00 yen per share, making the projected aggregate annual dividend 60.00 yen per share.  Cautionary Statement Concerning Forward-Looking Information  This press release contains forward-looking statements regarding the Company's current intent, plans, expectations and estimates. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, changes in customer circumstances and demand, exchange rate fluctuations, available funds, future alternative uses for cash, and general economic, business and market conditions. The Company assumes no obligation to, and does not currently intend to, update these forward-looking statements, except as required by law.  CONTACT: Masahiro Nagayasu          General Manager          Investor Relations          +81-75-935-6140          ir@nidec.com  Nidec Corporation  
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