Nidec: Fiscal 4Q13 Financial Results

 HDD spindle motors only

Nidec Corporation announced its financial results for the fourth fiscal quarter and the year ended March 31, 2013.

One of its main activity, but not the only one, is the manufacturing of small precision motors and especially spindle motors for HDDs where Nidec is the worldwide leader since many years. It’s one of the important components that HDD makers do not produce.

Net sales of these motors for 4Q13 increased ¥2,952 million or 8% compared to 3Q13. The number of units sold were down by 10% between the two same periods.

The average unit price on a Japanese yen basis increased 20% sequentially mainly due to the 14% depreciation of the Japanese yen against the U.S. dollar and an 5% increase in the average unit price on an U.S. dollar basis.

The number of motors sold for 2.5-inch and 3.5-inch HDDs for 4Q13 decreased 14% and 5% respectively, compared to the former three-month period. The respective figures are 4% and 13% for revenue.

Net sales of these spindle motors for HDDs, this time for FY13, decreased ¥11,505 million or 6.5% compared to the previous year. The number of units sold decreased 16%. The average unit price increased 11% on a Japanese yen basis due to an 5% increase in price on a U.S. dollar basis and the positive impact of the 5% depreciation of the Japanese yen against the U.S. dollar.

The number of units for 3.5-inch and 2.5-inch HDDs for the fiscal year were down 14% and 16%. Their average unit price, however, increased 8% and 4% respectively on a U.S. dollar basis. Net sales decreased 3% and 9% respectively.

This activity is shared between the Japanese HQs and five subsidiaries: Nidec Electronics (Thailand) Co., Ltd., Nidec Philippines Corporation, Nidec (Zhejiang) Corporation, Nidec (H.K.) Co., Ltd., and Nidec Singapore Pte. Ltd.