Nidec: Fiscal 2FQ16 Financial Results

(in ¥ billion)	1FQ15	2FQ16	Growth	6 mo. 15	6 mo. 16	Growth
Revenue	302.3	287.8	*-5%*	587.4	564.0	-4%
Operating profit	29.7	37.5	31%	59.6	69.0	16%

Nidec Corporation announced its financial results for the period of April 1, 2016 through September 30, 2016 or the second half of its fiscal year 2016.

Here are the comments on only its HDD motor business where the company is the worldwide leader and representing 16.5% of its global revenue for the most recent quarter.

Sales increased 11.1% to ¥47,567 million form 1FQ1 to 1FQ2. The number of units sold increased 17% quarterly.

Revenue for HDDs for this six-month period decreased 15.4% from ¥106,806 to ¥90,366 million compared to the same period of the prior year. The number of units sold decreased approximately 3% compared to the same two three-month periods.

Nidec shipped 97.3 million HDD motors in 2FQ16 including 12.2 million for HDDs for servers, comprising of 3.9 million for high-end enterprise HDDs and 8.3 million for nearline drives.

ASP for spindle motors for the September quarter was $4.77, up $0.01 up from the June period.

Nearline drives current ASP is over $12 but 2.5-inch, 3.5-inch is approximately $4 for motors. Average is around $12 for helium drive.

HDD market according to Nidec

(based on various sources)