FORM 6-K
U.S.SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Commission File Number: 1-15238
Supplement For the month of October 2006.
Total number of pages: 4
The exhibit index is located on page 1
NIDEC CORPORATION
(Translation of registrant’s name into English)
338 KuzeTonoshiro-Cho,
Minami-Ku,Kyoto 601-8205 Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:
Form 20-F X Form 40-F __
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes __ No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_____
Information furnished on this form:
EXHIBITS
Exhibit Number
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: October 27, 2006 | ||||
NIDEC CORPORATION | ||||
By: /S/ Hiroshi Toriba | ||||
Senior General Manager, Investor Relations |
2
FOR IMMEDIATE RELEASE
NIDEC CORPORATION
New York Stock Exchange symbol: NJ
Stock exchange code (Tokyo, Osaka): 6594
Contact: | |
Hiroshi Toriba | |
Senior General Manager | |
Investor Relations | |
+81-75-935-6140 | |
HIROSHI_TORIBA@notes.nidec.co.jp |
Released on October 27, 2006 in Kyoto, Japan
Nidec Sankyo Revises Financial Forecasts Upward
for the Six Months Ended September 30, 2006
Nidec Corporation announced today that Nidec Sankyo Corporation (the “Company”), one of its consolidated subsidiaries whose shares are listed on the First Section of the Tokyo Stock Exchange (Code:7757), has revised upward its consolidated and non-consolidated financial forecasts for the six months ended September 30, 2006 as follows.
1. Revised consolidated financial forecasts (Japanese GAAP) for the six months ended September 30, 2006.
(From April 1, 2006 to September 30, 2006) | (Yen in millions) | |||||
For the six months ended September 30, 2006 | For the six months ended September 30, 2005 | |||||
Previous forecast (July 27, 2006) | Revised Forecast | Change (amount) | Change (percent) | |||
Net sales | 57,000 | 58,000 | 1,000 | 1.8% | 59,515 | |
Operating income | 5,500 | 6,000 | 500 | 9.1% | 5,913 | |
Recurring income | 5,000 | 6,300 | 1,300 | 26.0% | 7,865 | |
Net income | 4,000 | 5,900 | 1,900 | 47.5% | 6,188 |
3
2. Revised non-consolidated financial forecasts (Japanese GAAP) for the six months ended September 30, 2006.
(From April 1, 2006 to September 30, 2006) | (Yen in millions) | |||||
For the six months ended September 30, 2006 | For the six months ended September 30, 2005 | |||||
Previous forecast (July 27, 2006) | Revised Forecast | Change (amount) | Change (percent) | |||
Net sales | 39,000 | 41,900 | 2,900 | 7.4% | 42,728 | |
Operating income | 4,000 | 4,700 | 700 | 17.5% | 4,203 | |
Recurringincome | 4,000 | 5,600 | 1,600 | 40.0% | 6,346 | |
Netincome | 3,500 | 4,400 | 900 | 25.7% | 6,742 |
3. Reasons for revision
On a non-consolidated basis, the increase in the Company’s sales and operating income primarily derives from the card reader business. Recurring income increased due to yen’s depreciation that generated a foreign exchange gain of approximately ¥800 million. Net income also increased as a result of the said increase in recurring income, despite a ¥600 million increase in equity loss in the Company’s subsidiaries overseas.
Consolidated sales, operating income and recurring income forecasts have been revised in line with the changes to the non-consolidated numbers. The net income increased as a result of smaller-than-expected disposal losses on fixed assets as well as smaller income taxes.
- ### -
4