UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of April 2013.
Commission File Number: 333-13896
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): _
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: April 23, 2013 | ||||
NIDEC CORPORATION | ||||
By: /S/ Masahiro Nagayasu | ||||
General Manager, Investor Relations |
2
FOR IMMEDIATE RELEASE
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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 April 23, 2013 in Kyoto, Japan
Nidec Announces Differences between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 and Revision to Year-End Dividend Forecast
Nidec Corporation (the “Company”)(NYSE: NJ) today announced differences between its financial forecast for the year ended March 31, 2013 (announced on January 24, 2013) and the actual financial results released today. The Company also announced that it would revise its year-end dividend forecast for the year ended March 31, 2013, which is to be approved at a meeting of the Company’s Board of Directors scheduled for May 28, 2013.
The details are as follows.
1.
Differences between Financial Projection and Actual Results for Fiscal Year Ended March 31, 2013 (U.S. GAAP)
From April 1, 2012 to March 31, 2013 (Millions of Yen, except per share amounts and percentages) | |||||
For the year ended March 31, 2013 | For the year ended March 31, 2012 | ||||
Forecast announced on January 24, 2013 | Actual | Change (amount) | Change (%) | ||
Net sales | 690,000 | 709,270 | 19,270 | 2.8 | 682,320 |
Operating income | 20,000 | 17,627 | (2,373) | (11.9) | 73,070 |
Income from continuing operations before income taxes | 12,500 | 13,427 | 927 | 7.4 | 70,856 |
Net income attributable to the Company | 4,500 | 7,998 | 3,498 | 77.7 | 40,731 |
Net income Attributable to Nidec Corporation per share-basic | 33.37 | 59.37 | - | - | 296.25 |
The Company sees its net sales for the fiscal year 2012 in line with its expectations, but operating income fell short of the Company’s expectation due to increased selling costs and general, administrative expenses. In the meantime, income from continuing operations before income taxes increased due to factors including foreign exchange gains deriving from Yen’s depreciation. Net income attributable to the Company also increased to exceed the Company’s expectation mainly because of positive tax effects and decreased non-controlling interests.
2. Revision to Year-end Dividend Forecaat for Fiscal Year Ended March 31, 2013
Dividend per share (Yen) for the year ended March 31, 2013
Interim | Year end | Full year | |
Previous Forecast (as of January. 24, 2013) | - | 35 | 80 |
Revised Forecast | - | 40 | 85 |
Dividend Paid | 45 | - | - |
<Reference> Dividend per share (Yen) for the year ended March 31, 2012 | |||
Interim | Year end | Full year | |
Dividend Paid | 45 | 45 | 90 |
The Company upholds shareholder-oriented management and places importance on regular dividend payments, seeking to increase its dividend payout to around 30% of the consolidated net income.
For the fiscal year ended March 31, 2013, in addition to the interim dividend of ¥45.0 per share already paid, the Company intends to pay a year-end dividend of 40.0 Yen per share, an increase of ¥5.0 per share from the amount previously announced. As a result, together with the interim dividend of ¥45.0 per share, the full-year dividend will be ¥85.0 per share.
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