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 July 2009.
Total number of pages: 3
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: July 24, 2009 | ||||
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 July 24, 2009 in Kyoto, Japan
Nidec Revises Upward Consolidated Financial Forecasts
for the Year Ending March 31, 2010
Nidec Corporation (NYSE: NJ) today announced an upward revision on its consolidated financial forecasts (U.S. GAAP) for the six months ending September 30, 2009 and the year ending March 31, 2010 as follows.
1. | Revised consolidated financial forecasts for the six months ending September 30, 2009 |
-U.S. GAAP-
From April 1, 2009 to September 30, 2009 (Millions of yen, except per share amounts and percentages) | |||||||||||||||||
For the six months ending September 30, 2009 | |||||||||||||||||
Changes | |||||||||||||||||
Previous Forecast | Revised | For the six months ended | |||||||||||||||
(as of April 24, 2009) | Forecast | Amount | Percentage | September 30, 2008 | |||||||||||||
Net sales | 250,000 | 250,000 | - | — | 365,220 | ||||||||||||
Operating income | 15,000 | 20,000 | 5,000 | 33.3 | 40,778 | ||||||||||||
Income from continuing operations before income taxes | 14,000 | 18,000 | 4,000 | 28.6 | 43,381 | ||||||||||||
Net income attributable to Nidec Corporation | 9,000 | 12,000 | 3,000 | 33.3 | 27,840 | ||||||||||||
Earnings per share | 64.61 | 86.15 | - | — | 192.06 | ||||||||||||
2. | Revised consolidated financial forecasts for the year ending March 31, 2010 |
-U.S. GAAP-
From April 1, 2009 to March 31, 2010 (Millions of yen, except per share amounts and percentages) | |||||||||||||
For the year ending March 31, 2010 | |||||||||||||
Changes | |||||||||||||
Previous Forecast | Revised | For the year ended | |||||||||||
(as of April 24, 2009) | Forecast | Amount | Percentage | March 31, 2009 | |||||||||
Net sales | 550,000 | 550,000 | - | — | 613,458 | ||||||||
Operating income | 45,000 | 50,000 | 5,000 | 11.1 | 51,806 | ||||||||
Income from continuing operations before income taxes | 43,000 | 47,000 | 4,000 | 9.3 | 47,029 | ||||||||
Net income attributable to Nidec Corporation | 27,000 | 30,000 | 3,000 | 11.1 | 28,353 | ||||||||
Earnings per share | 193.84 | 215.38 | - | — | 197.42 | ||||||||
2. Reasons for the revision
As we began to see positive effects of our company-wide effort to make progresses in the ongoingWPR™ initiatives, our profitability on a consolidated basis improved during the fiscal first quarter ended June 30, 2009. Net sales for this fiscal first quarter were generally in line with our prior estimates primarily as a result of our efforts to develop new products, markets and customers based on the four key concepts of lower energy consumption, environmental friendliness, lighter, thinner, shorter and smaller products, and lower prices. We were able to achieve higher profit margins than expected primarily due to our profitability improvement measures.
Based on the foregoing and other factors, we have revised the previously announced forecasts of our consolidated results of operations for the six months ending September 30, 2009 and the fiscal year ending March 31, 2010.
WPR was named by Shigenobu Nagamori of NIDEC CORPORATION based on his unique business management method in 2008. WPR™ is a trademark of NIDEC CORPORATION in Japan. WPR © Shigenobu Nagamori NIDEC CORPORATION 2008 |
Disclaimer Regarding Forward-looking Statements
This press release material contains forward-looking statements including expectations, judgement, plans, and strategies. 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, performance of affiliated companies, and other risks and uncertainties. Nidec undertakes no obligation to update forward-looking statements to reflect events or circumstances that occur after the date the statements are made.
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