Nidec: Fiscal Year 2014 Financial Results

(in ¥ million)	FY13	FY14	FY15 forecast
Revenue	875,109	1,028,385	1,150,000
*Growth*		18%	12%
Net income (loss)	56,272	76,126	90,000

Nidec Corporation reported financial results for its fiscal year ended March 31, 2015.

Summary of FY2014

Record net sales, operating income, income before taxes and net income
Reached the one trillion yen mark in net sales and the 100 billion yen mark in operating income for the first time
Total sales of automotive, appliance, commercial and industrial products surpassed those of small precision motors as a result of the strategic business portfolio transformation
Total operating income for automotive, appliance, commercial and industrial products crossed 10 billion yen in 4Q
CB conversion amounted to 74.3 billion yen (78% of total). As a result, debt to equity ratio improved further as the year-end shareholders’ equity ratio rose to 55%, which surpassed the goal of 50% set originally for March 2016

Comments

The company is largely the worldwide leader in spindle motors for hard disk drives since decades and, consequently, its results and expectations on these productts give an excellent idea of the HDD market.

These motors represented 21.2% of the company's global sales in FY13 and 19.8% in FY14. Amount increased yearly 10% to ¥204,141 million compared to the previous fiscal year, although the number of units sold decreased 1% compared to the previous fiscal year. For 4Q14 sales increased 0.2% to ¥55,404 million, compared to 3Q14. Number of units sold decreased 5% quarterly.