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Nidec: Fiscal 2Q13 Financial Results

Units sold of spindle motors for HDDs decreased 18% Y/Y

 (¥ in billion) 1Q13 1Q14
 Revenues 179.0 211.3
 Growth   18%
 Net Income (loss)  13.3 13.4

HDD spindle motors only

 (in ¥ billion) 1Q13  1Q14
 Revenue 48.4 46.6
 Growth    -4%

Net sales of spindle motors for HDDs for this three-month period decreased ¥1,844 million, or 3.8%, compared to the same period of the prior year. The number of units sold of spindle motors for HDDs decreased approximately 18% compared to the same period of the prior year.

The average unit price of spindle motors for HDDs on a Japanese yen basis for this three-month period increased approximately 17% compared to the same period of the prior year mainly due to the positive impact of the approximately 23% depreciation of the Japanese yen against the U.S. dollar, which was partially offset by an approximately 5% decrease in the average unit price on a U.S. dollar basis.

The number of units sold of spindle motors for 3.5-inch HDDs and 2.5-inch HDDs for this three-month period decreased approximately 15% and 20%, respectively, compared to the same period of the prior year.

The average unit price of spindle motors for 3.5-inch HDDs and 2.5-inch HDDs on a U.S. dollar basis for this three-month period decreased approximately 3% and 7%, respectively, compared to the same period of the prior year.

Net sales of spindle motors for 3.5-inch HDDs for this three-month period increased approximately 2% compared to the same period of the prior year, while net sales of spindle motors for 2.5-inch HDDs for this three-month period decreased approximately 8% compared to the same period of the prior year.

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