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: 333-13896
Supplement For the month of December 2008.
Total number of pages: 5
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: December 19, 2008 | ||||
NIDEC CORPORATION | ||||
By: /S/ Masahiro Nagayasu | ||||
General Manager, Investor Relations |
2
FOR IMMEDIATE RELEASE
NIDEC CORPORATION
New York Stock Exchange symbol: NJ
Stock exchange code (Tokyo, Osaka): 6594
Contact: | |
Masahiro Nagayasu | |
General Manager | |
Investor Relations | |
+81-75-935-6140 | |
ir@jp.nidec.com |
Released on December 19, 2008 in Kyoto, Japan
Nidec Revises Downward Consolidated Financial Forecasts
for the Year Ending March 31, 2009
Nidec Corporation (NYSE: NJ) today announced a downward revision on its consolidated financial forecasts (U.S. GAAP) for the year ending March 31, 2009 as follows.
1. Revised consolidated financial forecasts (U.S. GAAP) for the year ending March 31, 2009.
From April 1, 2008 to March 31, 2009 (Millions of yen, except per share amounts and percentages) | |||||
For the year ending March 31, 2009 | For the year ended | ||||
Previous forecast (April 23, 2008) | Revised Forecast | Change (amount) | Change (percent) | ||
Net sales | 800,000 | 630,000 | (170,000) | (21.3%) | 742,126 |
Operating income | 90,000 | 55,000 | (35,000) | (38.9%) | 76,833 |
Income before Income Tax | 90,000 | 43,000 | (47,000) | (52.2%) | 62,683 |
Net income | 58,000 | 28,000 | (30,000) | (51.7%) | 41,156 |
Earnings per share | 400.17 | 193.62 | - | - | 284.00 |
2. Reasons for the revision
The ripples of economic unrest, radiating beyond the financial markets into the real economy worldwide, has started affecting the business environment surrounding the Company after the middle of November. Reflecting the ongoing economic uncertainties and possible business risks attributable to further demand declines, yen’s appreciation and customer inventory adjustments accelerating at a pace far exceeding expectations, the Company now revises downward its financial forecast announced on April 23, 2008.
3
3. Reference
In this connection, the following subsidiaries of Nidec Corporation today announced downward revisions on their consolidated financial forecasts (Japanese GAAP) for the year ending March 31, 2009.
The details are as follows:
1) Nidec Sankyo Corporation (Tokyo Stock Exchange 1st Section, Code: 7757)
From April 1, 2008 to March 31, 2009 (Millions of yen, except per share amounts and percentages) | |||||
For the year ending March 31, 2009 | For the year ended | ||||
Previous forecast -April 23, 2008- | Revised Forecast | Change -Amount- | Change -Percentage- | ||
Net sales | 113,000 | 100,000 | (13,000) | (11.5%) | 108,987 |
Operating income | 10,000 | 6,000 | (4,000) | (40.0%) | 9,544 |
Recurring income | 10,000 | 4,500 | (5,500) | (55.0%) | 6,845 |
Net income | 6,000 | 2,000 | (4,000) | (66.7%) | 5,041 |
Earnings per share | 31.40 | 10.47 | - | - | 26.42 |
2) Nidec Copal Corporation (Tokyo Stock Exchange 1st Section, Code: 7756)
From April 1, 2008 to March 31, 2009 (Millions of yen, except per share amounts and percentages) | |||||
For the year ending March 31, 2009 | For the year ended | ||||
Previous forecast -April 23, 2008- | Revised Forecast | Change -Amount- | Change -Percentage- | ||
Net sales | 90,000 | 75,000 | (15,000) | (16.7%) | 87,957 |
Operating income | 8,200 | 5,000 | (3,200) | (39.0%) | 7,443 |
Recurring income | 8,200 | 4,800 | (3,400) | (41.5%) | 7,202 |
Net income | 5,350 | 3,000 | (2,350) | (43.9%) | 4,993 |
Earnings per share | 85.11 | 47.73 | - | - | 79.45 |
3) Nidec Tosok Corporation (Tokyo Stock Exchange 1st Section, Code: 7728)
From April 1, 2008 to March 31, 2009 (Millions of yen, except per share amounts and percentages) | |||||
For the year ending March 31, 2009 | For the year ended | ||||
Previous forecast -April 23, 2008- | Revised Forecast | Change -Amount- | Change -Percentage- | ||
Net sales | 27,000 | 23,500 | (3,500) | (13.0%) | 26,213 |
Operating income | 2,500 | 1,200 | (1,300) | (52.0%) | 2,174 |
Recurring income | 2,500 | 1,200 | (1,300) | (52.0%) | 2,198 |
Net income | 1,400 | 400 | (1,000) | (71.4%) | 1,634 |
Earnings per share | 72.76 | 20.79 | - | - | 84.93 |
4
4) Nidec Copal Electronics Corporation (Tokyo Stock Exchange 1st Section, Code: 6883)
From April 1, 2008 to March 31, 2009 (Millions of yen, except per share amounts and percentages) | |||||
For the year ending March 31, 2009 | For the year ended | ||||
Previous forecast -April 23, 2008- | Revised Forecast | Change -Amount- | Change -Percentage- | ||
Net sales | 33,400 | 29,000 | (4,400) | (13.2%) | 33,880 |
Operating income | 4,500 | 2,650 | (1,850) | (41.1%) | 4,306 |
Recurring income | 4,400 | 2,400 | (2,000) | (45.5%) | 4,190 |
Net income | 2,600 | 1,400 | (1,200) | (46.2%) | 2,547 |
Earnings per share | 39.21 | 21.12 | - | - | 38.42 |
5). Nidec Servo Corporation (Tokyo Stock Exchange 2nd Section, Code: 6585)
From April 1, 2008 to March 31, 2009 (Millions of yen, except per share amounts and percentages) | |||||
For the year ending March 31, 2009 | For the year ended | ||||
Previous forecast -April 23, 2008- | Revised Forecast | Change -Amount- | Change -Percentage- | ||
Net sales | 28,000 | 25,000 | (3,000) | (10.7%) | 35,046 |
Operating income | 2,100 | 850 | (1,250) | (59.5%) | 2,053 |
Recurring income | 2,100 | 850 | (1,250) | (59.5%) | 1,790 |
Net income | 1,700 | 650 | (1,050) | (61.8%) | 1,654 |
Earnings per share | 47.83 | 18.29 | - | - | 46.49 |
Cautionary Statements Regarding Forward-looking Statements This press release contains forward-looking statements including expectations, judgement, plans, and strategies, associated with Nidec Group’s business activities. The forward-looking statements are based on management’s assumptions and belief in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: fluctuation of currency exchange rates, overall supply and customer demand in the motor industry, product development and production capabilities, and other risks and uncertainties. |
-###-
5