Document_and_Entity_Informatio
Document and Entity Information | 12 Months Ended |
Mar. 31, 2014 | |
Document Type | '20-F |
Amendment Flag | 'false |
Document Period End Date | 31-Mar-14 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'FY |
Trading Symbol | 'NJ |
Entity Registrant Name | 'NIDEC CORP |
Entity Central Index Key | '0001158967 |
Current Fiscal Year End Date | '--03-31 |
Entity Well-known Seasoned Issuer | 'Yes |
Entity Current Reporting Status | 'Yes |
Entity Filer Category | 'Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 290,150,160 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | ¥ 247,740 | ¥ 193,420 |
Trade notes and accounts receivable, net of allowance for doubtful accounts of ¥860 million on March 31, 2013 and ¥1,126 million on March 31, 2014: | ' | ' |
Notes | 12,188 | 10,479 |
Accounts | 184,096 | 148,606 |
Inventories | 123,881 | 99,826 |
Other current assets | 48,063 | 48,359 |
Total current assets | 615,968 | 500,690 |
Marketable securities and other securities investments | 16,437 | 15,900 |
Investments in and advances to affiliated companies | 2,018 | 1,160 |
Long-term Investments, Total | 18,455 | 17,060 |
Property, plant and equipment: | ' | ' |
Land | 47,137 | 43,523 |
Buildings | 177,617 | 159,270 |
Machinery and equipment | 363,806 | 330,425 |
Construction in progress | 18,372 | 21,837 |
Property, Plant and Equipment, Gross, Total | 606,932 | 555,055 |
Less-Accumulated depreciation | -308,051 | -277,078 |
Long-lived assets | 298,881 | 277,977 |
Goodwill | 154,927 | 132,775 |
Other non-current assets, net of allowance for doubtful accounts of ¥515 million on March 31, 2013 and ¥467 million on March 31, 2014 | 77,687 | 76,915 |
Total assets | 1,165,918 | 1,005,417 |
Current liabilities: | ' | ' |
Short-term borrowings | 22,600 | 32,798 |
Current portion of long-term debt | 29,245 | 133,628 |
Trade notes and accounts payable | 166,383 | 134,165 |
Accrued expenses | 31,045 | 31,854 |
Other current liabilities | 33,142 | 32,432 |
Total current liabilities | 282,415 | 364,877 |
Long-term liabilities: | ' | ' |
Long-term debt | 299,411 | 146,271 |
Accrued pension and severance costs | 17,943 | 19,235 |
Other long-term liabilities | 25,244 | 21,217 |
Total long-term liabilities | 342,598 | 186,723 |
Commitments and contingencies (Notes 21 and 23) | ' | ' |
Equity: | ' | ' |
Common stock authorized 2013 and 2014: 960,000,000 shares; issued: 2013- 290,150,160 shares / 2014- 290,150,160 shares | 66,551 | 66,551 |
Additional paid-in capital | 65,197 | 70,518 |
Retained earnings | 367,617 | 322,638 |
Accumulated other comprehensive income (loss): | ' | ' |
Foreign currency translation adjustments | 54,539 | 12,636 |
Net unrealized gains and losses on securities | 4,185 | 1,187 |
Net gains and losses on derivative instruments | -24 | 242 |
Pension liability adjustments | -324 | -1,112 |
Treasury stock, at cost: 2013- 20,787,044 shares / 2014- 14,343,952 shares | -39,640 | -57,007 |
Total Nidec Corporation shareholders' equity | 518,101 | 415,653 |
Noncontrolling interests | 22,804 | 38,164 |
Total equity | 540,905 | 453,817 |
Total liabilities and equity | ¥ 1,165,918 | ¥ 1,005,417 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Trade notes and accounts receivable, allowance for doubtful accounts | ¥ 1,126 | ¥ 860 |
Other non-current assets, allowance for doubtful accounts | ¥ 467 | ¥ 515 |
Common stock, authorized | 960,000,000 | 960,000,000 |
Common stock, issued | 290,150,160 | 290,150,160 |
Treasury stock, shares | 14,343,952 | 20,787,044 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (JPY ¥) | 12 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Net sales | ¥ 875,109 | ¥ 709,270 | ¥ 682,320 | |
Operating expenses: | ' | ' | ' | |
Cost of products sold | 674,699 | 572,634 | 523,729 | |
Selling, general and administrative expenses | 77,534 | 84,760 | 55,471 | |
Research and development expenses | 37,808 | 34,278 | 30,050 | |
Costs and Expenses, Total | 790,041 | 691,672 | 609,250 | |
Operating income | 85,068 | 17,598 | 73,070 | |
Other income (expense): | ' | ' | ' | |
Interest and dividend income | 2,376 | 1,831 | 1,634 | |
Interest expense | -1,526 | -679 | -299 | |
Foreign exchange loss, net | -56 | -2,973 | -1,756 | |
(Loss) gain on marketable securities, net | 245 | -87 | -202 | |
Other, net | -1,443 | -2,292 | -1,591 | |
Nonoperating Income (Expense), Total | -404 | -4,200 | -2,214 | |
Income from continuing operations before income taxes | 84,664 | 13,398 | 70,856 | |
Income taxes | -25,729 | -6,562 | -18,801 | |
Equity in net income (loss) of affiliated companies | -25 | 13 | 0 | |
Income from continuing operations | 58,910 | 6,849 | 52,055 | |
Loss on discontinued operations | ' | ' | -7,768 | |
Consolidated net income | 58,910 | 6,849 | 44,287 | |
Less: Net (income) loss attributable to noncontrolling interests | -2,506 | 1,137 | -3,556 | |
Net income attributable to Nidec Corporation | 56,404 | 7,986 | 40,731 | |
Earning per share-basic | ' | ' | ' | |
Income from continuing operations attributable to Nidec Corporation | ¥ 207.31 | ¥ 29.64 | ¥ 168.16 | |
Loss on discontinued operations attributable to Nidec Corporation | ' | ' | ¥ (20.04) | |
Net income attributable to Nidec Corporation | ¥ 207.31 | [1] | ¥ 29.64 | ¥ 148.12 |
Earning per share-diluted | ' | ' | ' | |
Income from continuing operations attributable to Nidec Corporation | ¥ 193.96 | ¥ 27.49 | ¥ 157.2 | |
Loss on discontinued operations attributable to Nidec Corporation | ' | ' | ¥ (18.75) | |
Net income attributable to Nidec Corporation | ¥ 193.96 | [1] | ¥ 27.49 | ¥ 138.45 |
Cash dividends paid | ¥ 42.5 | ¥ 45 | ¥ 45 | |
Net income attributable to Nidec Corporation | ' | ' | ' | |
Income from continuing operations attributable to Nidec Corporation | 56,404 | 7,986 | 46,242 | |
Loss on discontinued operations attributable to Nidec Corporation | ' | ' | -5,511 | |
Net income attributable to Nidec Corporation | ¥ 56,404 | ¥ 7,986 | ¥ 40,731 | |
[1] | Earnings-per-share amounts for each quarter are computed independently. As a result, their sum may not equal the total year earnings-per-share amounts. |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Consolidated net income | ¥ 58,910 | ¥ 6,849 | ¥ 44,287 |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Foreign currency translation adjustments | 43,429 | 62,158 | -2,560 |
Net unrealized gains and losses on securities | 2,980 | 151 | -7 |
Net gains and losses on derivative instruments | -266 | 169 | -146 |
Pension liability adjustments | 737 | -433 | 93 |
Other comprehensive income (loss), Net-of-tax | 46,880 | 62,045 | -2,620 |
Total comprehensive income (loss) | 105,790 | 68,894 | 41,667 |
Less: Comprehensive (income) loss attributable to noncontrolling interests | -3,963 | -487 | -3,983 |
Comprehensive income (loss) attributable to Nidec Corporation | ¥ 101,827 | ¥ 68,407 | ¥ 37,684 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (JPY ¥) | Total | Common stock | Additional Paid-in capital | Retained earnings | Accumulated other comprehensive income (loss) | Treasury stock, at cost | Nidec Corporation total shareholders' equity | Non- controlling interests |
In Millions, except Share data, unless otherwise specified | ||||||||
Beginning Balance at Mar. 31, 2011 | ¥ 410,506 | ¥ 66,551 | ¥ 66,960 | ¥ 298,445 | ¥ (44,421) | ¥ (32,285) | ¥ 355,250 | ¥ 55,256 |
Beginning Balance (in shares) at Mar. 31, 2011 | ' | 290,150,160 | ' | ' | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 44,287 | ' | ' | 40,731 | ' | ' | 40,731 | 3,556 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | -2,560 | ' | ' | ' | -2,749 | ' | -2,749 | 189 |
Unrealized gains and losses on securities | -7 | ' | ' | ' | -53 | ' | -53 | 46 |
Unrealized gains and losses on derivative instruments | -146 | ' | ' | ' | -146 | ' | -146 | ' |
Pension liability adjustments | 93 | ' | ' | ' | -99 | ' | -99 | 192 |
Total other comprehensive income (loss) | -2,620 | ' | ' | ' | ' | ' | -3,047 | 427 |
Total comprehensive income | 41,667 | ' | ' | ' | ' | ' | 37,684 | 3,983 |
Purchase of treasury stock | -10,155 | ' | ' | ' | ' | -10,155 | -10,155 | ' |
Dividends paid to shareholders of Nidec Corporation | -12,399 | ' | ' | -12,399 | ' | ' | -12,399 | ' |
Dividends paid to noncontrolling interests | -1,444 | ' | ' | ' | ' | ' | ' | -1,444 |
Capital transaction with consolidated subsidiaries and other | -2,564 | ' | -198 | ' | ' | ' | -198 | -2,366 |
Ending Balance at Mar. 31, 2012 | 425,611 | 66,551 | 66,762 | 326,777 | -47,468 | -42,440 | 370,182 | 55,429 |
Ending Balance (in shares) at Mar. 31, 2012 | ' | 290,150,160 | ' | ' | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 6,849 | ' | ' | 7,986 | ' | ' | 7,986 | -1,137 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 62,158 | ' | ' | ' | 60,547 | ' | 60,547 | 1,611 |
Unrealized gains and losses on securities | 151 | ' | ' | ' | 174 | ' | 174 | -23 |
Unrealized gains and losses on derivative instruments | 169 | ' | ' | ' | 169 | ' | 169 | ' |
Pension liability adjustments | -433 | ' | ' | ' | -469 | ' | -469 | 36 |
Total other comprehensive income (loss) | 62,045 | ' | ' | ' | ' | ' | 60,421 | 1,624 |
Total comprehensive income | 68,894 | ' | ' | ' | ' | ' | 68,407 | 487 |
Purchase of treasury stock | -31,277 | ' | ' | ' | ' | -31,277 | -31,277 | ' |
Change in ownership of subsidiaries in connection with share exchange transaction | ' | ' | 3,270 | ' | ' | 16,710 | 19,980 | -19,980 |
Dividends paid to shareholders of Nidec Corporation | -12,125 | ' | ' | -12,125 | ' | ' | -12,125 | ' |
Dividends paid to noncontrolling interests | -1,421 | ' | ' | ' | ' | ' | ' | -1,421 |
Acquisitions of new subsidiaries | 3,570 | ' | ' | ' | ' | ' | ' | 3,570 |
Capital transaction with consolidated subsidiaries and other | 565 | ' | 486 | ' | ' | ' | 486 | 79 |
Ending Balance at Mar. 31, 2013 | 453,817 | 66,551 | 70,518 | 322,638 | 12,953 | -57,007 | 415,653 | 38,164 |
Ending Balance (in shares) at Mar. 31, 2013 | ' | 290,150,160 | ' | ' | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 58,910 | ' | ' | 56,404 | ' | ' | 56,404 | 2,506 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 43,429 | ' | ' | ' | 41,903 | ' | 41,903 | 1,526 |
Unrealized gains and losses on securities | 2,980 | ' | ' | ' | 2,998 | ' | 2,998 | -18 |
Unrealized gains and losses on derivative instruments | -266 | ' | ' | ' | -266 | ' | -266 | ' |
Pension liability adjustments | 737 | ' | ' | ' | 788 | ' | 788 | -51 |
Total other comprehensive income (loss) | 46,880 | ' | ' | ' | ' | ' | 45,423 | 1,457 |
Total comprehensive income | 105,790 | ' | ' | ' | ' | ' | 101,827 | 3,963 |
Purchase of treasury stock | -2,838 | ' | ' | ' | ' | -2,838 | -2,838 | ' |
Change in ownership of subsidiaries in connection with share exchange transaction | ' | ' | -4,279 | ' | ' | 20,655 | 16,376 | -16,376 |
Dividends paid to shareholders of Nidec Corporation | -11,425 | ' | ' | -11,425 | ' | ' | -11,425 | ' |
Dividends paid to noncontrolling interests | -894 | ' | ' | ' | ' | ' | ' | -894 |
Capital transaction with consolidated subsidiaries and other | -3,545 | ' | -1,042 | ' | ' | -450 | -1,492 | -2,053 |
Ending Balance at Mar. 31, 2014 | ¥ 540,905 | ¥ 66,551 | ¥ 65,197 | ¥ 367,617 | ¥ 58,376 | ¥ (39,640) | ¥ 518,101 | ¥ 22,804 |
Ending Balance (in shares) at Mar. 31, 2014 | ' | 290,150,160 | ' | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Cash flows from operating activities: | ' | ' | ' |
Consolidated net income | ¥ 58,910 | ¥ 6,849 | ¥ 44,287 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 39,485 | 34,935 | 31,511 |
Amortization | 6,797 | 4,785 | 2,819 |
Loss (gain) on marketable securities, net | -245 | 87 | 200 |
Loss on sales, disposal or impairment of property, plant and equipment | 534 | 10,300 | 15,705 |
Loss recovery and gain on property, plant and equipment damaged in flood | -62 | -4,027 | -19,662 |
Deferred income taxes | 9,217 | -12,055 | 12,835 |
Equity in net (income) loss of affiliated companies | 25 | -13 | 0 |
Foreign currency adjustments | -3,498 | 1,744 | 236 |
Accrual for pension and severance costs, net payments | -4,241 | -396 | -915 |
Changes in operating assets and liabilities: | ' | ' | ' |
(Increase) decrease in notes and accounts receivable | -19,957 | 53,221 | -14,819 |
(Increase) decrease in inventories | -10,244 | 14,090 | -257 |
(Decrease) increase in notes and accounts payable | 14,299 | -1,257 | -8,061 |
(Decrease) increase in accrued income taxes | 3,899 | -7,263 | -2,259 |
Other | -7,700 | 9,286 | -4,908 |
Net cash provided by operating activities | 87,219 | 110,286 | 56,712 |
Cash flows from investing activities: | ' | ' | ' |
Additions to property, plant and equipment | -40,297 | -61,368 | -41,446 |
Proceeds from sales of property, plant and equipment | 2,601 | 1,036 | 2,725 |
Insurance proceeds related to property, plant and equipment damaged in flood | 2,772 | 880 | 20,804 |
Purchases of marketable securities | -309 | -147 | -213 |
Proceeds from sales or redemption of marketable securities | 1,059 | 692 | 414 |
Acquisitions of business, net of cash acquired | -23,350 | -79,884 | 5,201 |
Other | -5,654 | 4,937 | -7,403 |
Net cash used in investing activities | -63,178 | -133,854 | -19,918 |
Cash flows from financing activities: | ' | ' | ' |
Increase (decrease) in short-term borrowings | -11,821 | -52,199 | 26,060 |
Proceeds from issuance of long-term debt | 30,000 | 71,307 | ' |
Repayments of long-term debt | -34,323 | -12,392 | -1,229 |
Proceeds from issuance of corporate bonds | 50,000 | 100,000 | ' |
Redemption of corporate bonds | -4,250 | ' | ' |
Purchases of treasury stock | -2,838 | -31,277 | -10,155 |
Payments for additional investments in subsidiaries | -217 | -92 | -454 |
Dividends paid to shareholders of Nidec Corporation | -11,425 | -12,125 | -12,399 |
Dividends paid to noncontrolling interests | -894 | -1,421 | -1,444 |
Other | -761 | -684 | -1,193 |
Net cash (used in) provided by financing activities | 13,471 | 61,117 | -814 |
Effect of exchange rate changes on cash and cash equivalents | 16,808 | 25,581 | -11 |
Net increase in cash and cash equivalents | 54,320 | 63,130 | 35,969 |
Cash and cash equivalents at beginning of year | 193,420 | 130,290 | 94,321 |
Cash and cash equivalents at end of year | ¥ 247,740 | ¥ 193,420 | ¥ 130,290 |
Nature_of_operations
Nature of operations | 12 Months Ended |
Mar. 31, 2014 | |
Nature of operations | ' |
1. Nature of operations: | |
NIDEC Corporation (the “Company”) and its subsidiaries (collectively “NIDEC”) are primarily engaged in the design, development, manufacture and marketing of i) small precision motors, which include spindle motors for hard disk drives, motors for optical disk drives, small precision fans, motor appliances and other small motors; ii) automotive, appliance, commercial and industrial products, which are used in various electric household appliances, commercial and industrial equipment and automobiles; iii) machinery, which includes, test systems, measuring equipment, power transmission equipment, factory automation systems, press machines, card readers and industrial robots; iv) electronic and optical components, which include camera shutters, camera lens units, switches, trimmer potentiometers, processing and precision plastic mold products; and v) other products, which include other services. Manufacturing operations are located primarily in Asia (China, Thailand, Vietnam and the Philippines), North America and Japan, and sales subsidiaries are primarily located in Asia, Japan, North America and Europe. | |
The main customers for NIDEC are manufacturers of hard disk drives. NIDEC also sells its products to the manufacturers of various electric household appliances, automation equipment, automotive components, home video game consoles, telecommunication equipment and audio-visual equipment. |
Summary_of_significant_account
Summary of significant accounting policies | 12 Months Ended |
Mar. 31, 2014 | |
Summary of significant accounting policies | ' |
2. Summary of significant accounting policies: | |
The Company and its subsidiaries in Japan maintain their records and prepare their financial statements in accordance with accounting principles generally accepted in Japan, and its foreign subsidiaries in conformity with those of their countries of domicile. Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform with accounting principles generally accepted in the United States of America. Significant accounting policies after reflecting adjustments for the above are as follows: | |
Estimates - | |
The preparation of NIDEC’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates include the valuation of inventories, allowance for doubtful accounts, depreciation and amortization of long-lived assets, valuation allowance for deferred tax assets, valuation of investment securities, fair value of financial instruments, uncertain tax positions, pension liabilities, the recoverability of long-lived assets and goodwill, and fair value of assets acquired and liabilities assumed. Actual results could differ from those estimates. | |
Basis of consolidation and accounting for investments in affiliated companies - | |
The consolidated financial statements include the accounts of the Company and those of its majority-owned subsidiary companies. All significant intercompany transactions and accounts have been eliminated. Companies over which NIDEC exercises significant influence, but which it does not control, are classified as affiliated companies and accounted for using the equity method. Consolidated net income includes NIDEC’s equity in current earnings (losses) of such companies, after elimination of unrealized intercompany profits. | |
On occasion, NIDEC may acquire additional shares of the voting rights of a consolidated subsidiary or dispose of a part of those shares or a Nidec consolidated subsidiary may issue its shares to third parties. With respect to such transactions, all transactions for changes in a parent’s ownership interest in a subsidiary that do not result in the subsidiary ceasing to be a subsidiary are recognized as equity transactions. | |
Translation of foreign currencies - | |
Non monetary asset and liability accounts of foreign subsidiaries and affiliates are translated into Japanese yen at the year-end exchange rates and all income and expense accounts are translated at exchange rates that approximate those prevailing at the time of the transactions. The resulting translation adjustments are included as a component of accumulated other comprehensive income in shareholders’ equity. | |
Monetary assets and liabilities denominated in foreign currencies are translated at the year-end exchange rates and the resulting transaction gains or losses are taken into income. | |
Cash and cash equivalents - | |
Cash and cash equivalents include all highly liquid investments, with original maturities of three months or less that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. | |
Inventories - | |
Inventories are stated at the lower of cost or market. Cost is determined principally on the weighted average cost basis. Cost includes the cost of materials, labor and applied factory overhead. Projects in progress, which mainly relate to production of factory automation equipment based on contracts with customers, are stated at the lower of cost or market, cost being determined as the accumulated production cost. | |
Marketable securities - | |
Marketable securities consist of equity securities that are listed on recognized stock exchanges and debt securities. Equity securities designated as available-for-sale are carried at fair value with changes in unrealized gains or losses included as a component of accumulated other comprehensive income in shareholders’ equity, net of applicable taxes. Realized gains and losses are determined on the average cost method and are reflected in the statement of income. Other than temporary declines in market value of individual securities classified as available-for-sale are charged to income in the period the loss occurs. Debt securities designated as held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts. | |
Derivative financial instruments - | |
NIDEC manages the exposures of fluctuations in foreign exchange rate, interest rate and commodity prices through the use of derivative financial instruments which include foreign exchange forward contracts, currency option contracts, interest rate swap agreements and commodity future contracts. NIDEC does not hold derivative financial instruments for trading purposes. | |
Derivatives are accounted for under ASC 815, “Derivatives and Hedging.” All derivatives are recorded as either assets or liabilities on the balance sheet and measured at fair value. Changes in the fair value of derivatives are charged in current earnings. However certain derivatives may qualify for hedge accounting as a cash flow hedge, if the hedging relationship is expected to be highly effective in achieving offsetting of cash flows of the hedging instruments and hedged items. Under hedge accounting, changes in the fair value of the effective portion of these derivatives designated as cash flow hedge derivatives are deferred in accumulated other comprehensive income and charged to earnings when the underlying transaction being hedged occurs. | |
NIDEC designates certain foreign exchange forward contracts, interest rate swap agreements and commodity future contracts as cash flow hedges. NIDEC formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the balance sheet or forecasted transactions. NIDEC also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting cash flows of hedged items. When it is determined that a derivative is not a highly effective hedge or that it has ceased to be a highly effective hedge, NIDEC discontinues hedge accounting prospectively. When a cash flow hedge is discontinued, the previously recognized net derivative gains or losses remain in accumulated other comprehensive income until the hedged transaction occurs, unless it is probable that the forecasted transaction will not occur at which point the derivative gains or losses are reclassified into earnings immediately. | |
Property, plant and equipment - | |
Property, plant and equipment are stated at cost. Major renewals and improvements are capitalized; minor replacements, maintenance and repairs are charged to expense in the year incurred. | |
Depreciation of property, plant and equipment is computed on the straight-line method at rates based on the estimated useful lives of the assets. Estimated useful lives range from 7 to 47 years for factories to produce NIDEC’s products, 50 years for the head office and sales offices, from 3 to 18 years for leasehold improvements, and from 2 to 15 years for machinery and equipment. | |
Depreciation expense amounted to ¥31,511 million, ¥34,935 million, and ¥39,485 million for the years ended March 31, 2012, 2013 and 2014, respectively. | |
Lease- | |
NIDEC capitalizes leases and related obligations when any of the four criteria are met within the guidance of ASC 840 “Leases”. Under ASC840, these leases and related obligations are capitalized at the commencement of the lease at the lower of the fair value of the leased property and the present value of the minimum lease payments. | |
Goodwill and other intangible assets - | |
Goodwill and other intangible assets are accounted for under ASC350, “Intangibles—Goodwill and Other”. | |
Goodwill acquired in business combinations is not amortized but tested annually for impairment. NIDEC tests for impairment at the reporting unit level on January 1st of each year. In addition, NIDEC tests for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. This test is a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value, which is based on discounted future cash flows, exceeds the carrying amount, goodwill is not considered impaired. If the carrying amount exceeds the fair value, the second step must be performed to measure the amount of the impairment loss, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. | |
Other intangible assets include proprietary technology and customer relationships, as well as software and other intangible assets acquired in business combinations. Intangible assets with an indefinite life are not subject to amortization and are tested for impairment once on January 1st of each year or more frequently if an event occurs or circumstances change. Intangible assets with a definite life are amortized on a straight-line basis over their estimated useful lives. The weighted average amortization period for proprietary technology, customer relationships and software are 12 years, 18 years and 5 years, respectively. | |
Long-lived assets - | |
NIDEC reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset group exceeds the estimated undiscounted future cash flows expected to result from the use of the asset group and its eventual disposition. The amount of the impairment loss to be recorded is calculated as the excess of the assets group’s carrying value over its fair value. Long-lived assets that are to be disposed of other than by sale are considered to be held and used until the disposal. Long-lived assets that are to be disposed of by sale are reported at the lower of their carrying value or fair value less costs to sell. Reductions in carrying value are recognized in the period in which long-lived assets are classified as held for sale. | |
Revenue recognition - | |
NIDEC recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectibility is reasonably assured. For small precision motors, automotive, appliance, commercial and industrial products and electronic and optical components, these criteria are generally met at the time a product is delivered to the customers’ site which is the time the customer has taken title to the product and the risk and rewards of ownership have been substantively transferred. These conditions are met at the time of delivery to customers in domestic sales (FOB destination) and at the time of shipment for export sales (FOB shipping point). Revenue for machinery sales is recognized upon receipt of final customer acceptance. At the time the related revenue is recognized, NIDEC makes provisions for estimated product returns. Revenue from a part of sales of automotive, appliance, commercial and industrial products under long-term construction type arrangements are recognized under the percentage-of-completion method. Under the percentage-of-completion method, revenue is recognized as a percentage of estimated total revenue that incurred costs to date bear to estimated total costs after giving effect to estimates of costs to complete based upon the most recent information. | |
Research and development expenses - | |
Research and development expenses, mainly consisting of personnel and depreciation expenses at research and development branches, are charged to operations as incurred. | |
Advertising costs - | |
Advertising and sales promotion costs are expensed as incurred. Advertising costs were ¥228 million, ¥296 million, and ¥477 million for the years ended March 31, 2012, 2013 and 2014, respectively. | |
Income taxes - | |
The provision for income taxes is computed based on the pretax income included in the consolidated statement of income. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. | |
NIDEC recognizes the financial statement effects of tax positions when it is more likely than not, based on the technical merits, that the tax positions will be sustained upon examination by the tax authorities. Benefits from tax positions that meet the more-likely-than-not recognition threshold are measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement. Interest and penalties accrued related to unrecognized tax benefits are included in other, net in the consolidated statements of income. | |
Earnings per share - | |
Basic net income per common share is calculated by dividing net income by the weighted-average number of shares outstanding during the reported period. The calculation of diluted net income per common share is similar to the calculation of basic net income per share, except that the weighted-average number of shares outstanding includes the additional dilution from potential common stock equivalents such as convertible bonds and options. | |
Reclassification | |
Certain reclassifications of previously reported amounts have been made to the consolidated statements of income and cash flows for the years ended March 31, 2012 and 2013 to conform to the current year presentation. | |
As of March 31, 2012, NIDEC discontinued its lens actuator business and its tape drive and disk drive mechanism business included within the Nidec Sankyo reportable segment, and its compact digital camera lens unit business included within the Nidec Copal reportable segment. The operating results of the discontinued businesses and exit costs with related taxes were recorded as “Loss on discontinued operations” in the consolidated statement of income in accordance with ASC 205-20, “Presentation of Financial Statements-Discontinued Operations”. | |
Accounting Changes | |
As of April 1, 2013, NIDEC adopted FASB Accounting Standards Codification™ (ASC) 350 “Intangibles-Goodwill and Other” updated by Accounting Standards Update (ASU) No. 2012-02 “Testing Indefinite-Lived Intangible Assets for Impairment.” ASU 2012-02 allows an entity the option of performing a qualitative assessment before calculating the fair value of an indefinite-lived intangible asset and performing the quantitative impairment test. If an entity determines, on the basis of qualitative factors, that it is more likely than not that the asset is impaired, the quantitative impairment test would be required. The adoption of this standard did not have material impact on NIDEC’s consolidated financial position, results of operations and liquidity. | |
As of April 1, 2013, NIDEC adopted FASB ASC 220 “Comprehensive income.” updated by ASU No. 2013-02 “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The standard is provision for disclosure. The adoption of this standard did not have any impact on NIDEC’s consolidated financial position, results of operations and liquidity. | |
Recent Accounting Pronouncements to be adopted in future periods | |
In July 2013, the FASB issued ASU No. 2013-11, “Income taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carry forward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 is effective for reporting periods beginning after December 15, 2013. Early adoption and retrospective application are permitted. This standard is provision for disclosure. The adoption of this standard will not have any impact on NIDEC’s consolidated financial position, results of operations or liquidity. | |
In April 2014, the FASB issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the component meets the criteria to be classified as held for sale or is disposed. The amendments in this update also require additional disclosures about discontinued operations and disposal of an individually significant component of an entity that does not qualify for discontinued operations. ASU 2014-08 is effective for annual and interim periods beginning after December 15, 2014. Early adoption is permitted. The impact of the adoption of ASU 2014-08 on NIDEC’s consolidated financial position, results of operations and liquidity will depend on, and may be significant depending on, the size and nature of its future disposal. | |
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” Under the new standard, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should recognize revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer, and the transaction price should be allocated to performance obligation in the contract. The new standard also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2016. Early application is not permitted. NIDEC is currently evaluating the potential impact from adopting ASU 2014-09 on its consolidated financial position, results of operations and liquidity. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Acquisitions | ' | ||||||||
3. Acquisitions | |||||||||
On July 1, 2011, NIDEC acquired all of the voting rights of Sanyo Seimitsu Co., Ltd. which consists of small precision motor product category, particularly vibration motors for mobile phones of Sanyo Electric Co., Ltd., in order to further develop and expand our small precision motor product category by effectively using the operational resources of, and efficiently developing new products and expanding sales opportunities for small precision motor product category. Sanyo Seimitsu Co., Ltd. was subsequently renamed Nidec Seimitsu Corporation. This acquisition did not have a material impact on NIDEC’s consolidated financial position, results of operations or liquidity. | |||||||||
On April 2, 2012, NIDEC acquired all of the voting rights in The Minster Machine Company (“Minster”), which consists of machinery product category, particularly medium-sized and large-sized high-speed, high-rigidity press machines and large-sized press machines for dies for motor parts for cash of ¥9,202 million, in order to continue to pursue NIDEC’s group-wide growth strategy by seeking to increase sales by expanding our business not only in NIDEC’s existing electronic parts market but also in wider markets, including the beverage can and automobile parts markets. The Minster Machine Company was subsequently renamed Nidec Minster Corporation. | |||||||||
On May 31, 2012, NIDEC acquired all of the voting rights in Ansaldo Sistemi Industriali S.p.A. (“Nidec ASI”), an Italian company, which consists of automotive, appliance, commercial and industrial products business for cash of ¥36,564 million, where NIDEC has increasingly focused our efforts as one of the principal growth area, in order to accelerate the global expansion of NIDEC’s industrial motor business by gaining sales platforms in markets where NIDEC currently does not have significant sales and by expanding NIDEC’s product offering to include a wide range of products that are currently not in our product portfolio. Ansaldo Sistemi Industriali S.p.A was subsequently renamed Nidec ASI S.p.A. | |||||||||
On September 28, 2012, NIDEC acquired all of the voting rights in Avtron Industrial Automation, Inc. (“Avtron”), which consists of rich system engineering resources, experience, the customer relationship and a sales channel in North America for cash of ¥4,861 million, in order to strengthen the industrial motor and automation solutions business and accelerate our strategy to achieve synergies with acquired companies. | |||||||||
On October 2, 2012, NIDEC acquired 51.4% of the voting rights of SCD Co., Ltd. (“SCD”), a South Korean company, which consists of development, manufacturing and sale of motor drive units for refrigerators and motors for air conditioners for cash of ¥3,305 million, in order to gain an opportunity to enter into business with South Korean home appliance manufacturers that have a strong presence in emerging economies, and seek to expand sales of its rich product line-up. | |||||||||
On November 1, 2012, NIDEC acquired all of the voting rights in Kinetek Group Inc. (“Kinetek”), which conducts its commercial motor business on a global basis and occupies a leading position in various markets for commercial motors used in such end-products as elevators/escalators, commercial food refrigerators, floor care equipment, golf and utility vehicles, material handling vehicles and aerial lifts for cash of ¥35,697 million, in order to strengthen NIDEC’s commercial motor business. | |||||||||
On December 28, 2012, NIDEC acquired 51.0% of the voting rights of Nidec Kaiyu Auto Electric (Jiangsu) Co., Ltd. (“Kaiyu”), a Chinese company, which consists of development, manufacturing and sale of brush motors for electric power steering (“EPS”) systems and automotive fans for cash of ¥1,018 million, in order to acquire technologies for brush motors for EPS systems, which NIDEC currently does not possess, and business opportunities in the Chinese automobile market, new entry into which has been difficult. | |||||||||
On January 1, 2014, NIDEC acquired all of the voting rights in Mitsubishi Materials C.M.I. Corporation (“CMI”), a Japanese company, which consists of development, manufacturing and sale of small motors, electric contact products and other products for cash of ¥5,228 million, in order to strengthen our automotive product business and enhance our product portfolio. | |||||||||
On March 31, 2014, NIDEC acquired all of the voting rights in Honda Elesys Co., Ltd. (“Elesys”), a Japanese company, which consists of development, manufacturing and sale of automobile electronic control units for car bodies for cash of ¥24,320 million, mainly in order to combine our EPS motors with Elesys’ electronic control units (ECU) to be transformed into a module business, and create sales synergies by utilizing Nidec Group’s sales network for automotive motors. | |||||||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||||||
Yen in millions | |||||||||
January 1, | March 31, | ||||||||
2014 | 2014 | ||||||||
CMI | Elesys | ||||||||
Cash and cash equivalents | ¥ | 1,081 | ¥ | 5,759 | |||||
Accounts receivable | 1,323 | 5,176 | |||||||
Inventories | 2,155 | 4,600 | |||||||
Other current assets | 683 | 1,483 | |||||||
Property, plant and equipment | 4,538 | 6,803 | |||||||
Goodwill | 2,114 | 9,668 | |||||||
Intangible assets | 55 | 58 | |||||||
Other non-current assets | 790 | 657 | |||||||
Total assets acquired | 12,739 | 34,204 | |||||||
Accounts payable | (1,420 | ) | (6,618 | ) | |||||
Other current liabilities | (2,834 | ) | (2,417 | ) | |||||
Other non-current liabilities | (3,256 | ) | (849 | ) | |||||
Total liabilities assumed | (7,510 | ) | (9,884 | ) | |||||
Noncontrolling interests | (1 | ) | — | ||||||
Net assets acquired | ¥ | 5,228 | ¥ | 24,320 | |||||
Pursuant to ASC 805 “Business Combinations,” previous year’s consolidated financial statements have been retrospectively adjusted to reflect our valuation of the fair values of the assets acquired and the liabilities assumed upon the acquisition of SCD and Kaiyu in the fiscal year ended March 31, 2013. During the three months ended September 30, 2013, NIDEC completed our valuation of such assets and liabilities of SCD and Kaiyu. | |||||||||
In addition, NIDEC is currently evaluating the fair values of the assets acquired and the liabilities assumed upon the acquisitions of CMI and Elesys. These assets and liabilities have been recorded on our consolidated balance sheet based on preliminary management estimation as of March 31, 2014. We continue to gather information to evaluate primarily property, plant and equipment and intangible assets that we have acquired. | |||||||||
Operating Segment | Yen in millions | ||||||||
Amount of Goodwill | Amount of Goodwill | ||||||||
deductible for tax | |||||||||
purposes | |||||||||
Nidec Sankyo | ¥ | 2,114 | ¥ | 334 | |||||
All Others | 9,668 | 393 | |||||||
Total | ¥ | 11,782 | ¥ | 727 | |||||
Acquisition-related cost of ¥147 million was included in selling, general and administrative expenses in the consolidated statement of income for the year ended March 31, 2014. | |||||||||
The following represents the unaudited pro forma results of operations of NIDEC for the years ended March 31, 2013 and 2014, as if the acquisition in these companies had occurred on April 1, 2012. The unaudited pro forma results of operations are presented for comparative purposes only and are not necessarily indicative of the results of operations that may occur in the future or that would have occurred had the acquisitions been in effect on the dates indicated. | |||||||||
Yen in millions | |||||||||
For the year ended March 31 | |||||||||
(Unaudited) | |||||||||
2013 | 2014 | ||||||||
Pro forma net sales | ¥ | 787,716 | ¥ | 928,910 | |||||
Pro forma net income | 9,378 | 57,788 | |||||||
Yen | |||||||||
Pro forma net income attributable to Nidec Corporation per share | |||||||||
—basic | ¥ | 34,81 | ¥ | 212.4 | |||||
—diluted | 32.32 | 198.72 | |||||||
Note: NIDEC implemented a two-for-one stock split on our common stock as of April 1, 2014. Each pro forma net income attributable to Nidec Corporation per share has been adjusted to reflect the effect of the stock split. |
Goodwill_and_other_intangible_
Goodwill and other intangible assets | 12 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Goodwill and other intangible assets | ' | ||||||||||||||||||||||||
4. Goodwill and other intangible assets: | |||||||||||||||||||||||||
Intangible assets subject to amortization are summarized as follows: | |||||||||||||||||||||||||
Yen in millions | |||||||||||||||||||||||||
March 31 | |||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||
Gross | Accumulated | Carrying | Gross | Accumulated | Carrying | ||||||||||||||||||||
carrying | amortization | amounts | carrying | amortization | amounts | ||||||||||||||||||||
amounts | amounts | ||||||||||||||||||||||||
Proprietary technology | ¥ | 10,017 | ¥ | 1,469 | ¥ | 8,548 | ¥ | 11,671 | ¥ | 2,535 | ¥ | 9,136 | |||||||||||||
Customer relationships | 43,305 | 5,817 | 37,488 | 48,157 | 9,626 | 38,531 | |||||||||||||||||||
Software | 13,830 | 6,878 | 6,952 | 18,001 | 8,625 | 9,376 | |||||||||||||||||||
Other | 5,718 | 1,925 | 3,793 | 6,988 | 3,345 | 3,643 | |||||||||||||||||||
Total | ¥ | 72,870 | ¥ | 16,089 | ¥ | 56,781 | ¥ | 84,817 | ¥ | 24,131 | ¥ | 60,686 | |||||||||||||
The weighted average amortization periods for proprietary technology, customer relationships and software are 12 years, 18 years and 5 years, respectively. | |||||||||||||||||||||||||
Total amortization of intangible assets for the years ended March 31, 2012, 2013 and 2014 amounted to ¥2,664 million, ¥4,627 million and ¥6,377 million, respectively. | |||||||||||||||||||||||||
Total indefinite lived intangible assets amounted to ¥7,208 million and ¥7,920 million as of March 31, 2013 and 2014, respectively. | |||||||||||||||||||||||||
The estimated aggregate amortization expense for intangible assets for the next five years is as follows: | |||||||||||||||||||||||||
Years ending March 31, | Yen in millions | ||||||||||||||||||||||||
2015 | ¥ | 6,773 | |||||||||||||||||||||||
2016 | 6,445 | ||||||||||||||||||||||||
2017 | 5,767 | ||||||||||||||||||||||||
2018 | 5,123 | ||||||||||||||||||||||||
2019 | 4,656 | ||||||||||||||||||||||||
NIDEC has completed the annual impairment test for existing goodwill and indefinite lived intangible assets as required by ASC 350 as of January 1, 2014. For the years ended March 31, 2012, 2013 and 2014, NIDEC has determined that the fair value of each reporting unit which includes goodwill has been in excess of its carrying amount. Accordingly, for the years ended March 31, 2012, 2013 and 2014, no goodwill impairment loss has been recorded. As a result of the annual impairment test for existing indefinite lived intangible assets, for the years ended March 31, 2012, 2013 and 2014, impairment loss of indefinite lived intangible assets has not been recorded. | |||||||||||||||||||||||||
The changes in the carrying amount of goodwill by operating reportable segment for the years ended March 31, 2012 and 2013 are as follows: | |||||||||||||||||||||||||
Yen in millions | |||||||||||||||||||||||||
Balance as of | Acquisition | Impairment | Translation | Balance as of | |||||||||||||||||||||
April 1, | loss | adjustments | March 31, | ||||||||||||||||||||||
2012 | and Others | 2013 | |||||||||||||||||||||||
Goodwill: | |||||||||||||||||||||||||
Nidec Electronics (Thailand) | ¥ | 6,109 | ¥ | — | ¥ | — | ¥ | 885 | ¥ | 6,994 | |||||||||||||||
Nidec (Zhejiang) | 912 | — | — | 132 | 1,044 | ||||||||||||||||||||
Nidec Sankyo | 26,100 | 1,094 | — | 118 | 27,312 | ||||||||||||||||||||
Nidec Copal | 16,462 | — | — | — | 16,462 | ||||||||||||||||||||
Nidec Tosok | 1,107 | — | — | (69 | ) | 1,038 | |||||||||||||||||||
Nidec Copal Electronics | 6,561 | — | — | — | 6,561 | ||||||||||||||||||||
Nidec Techno Motor | 2,049 | — | — | — | 2,049 | ||||||||||||||||||||
Nidec Motor | 11,984 | 34,021 | — | 9,003 | 55,008 | ||||||||||||||||||||
Nidec Motors & Actuators | 4,737 | 1,062 | — | 586 | 6,385 | ||||||||||||||||||||
All Others | 4,504 | 4,785 | — | 633 | 9,922 | ||||||||||||||||||||
¥ | 80,525 | ¥ | 40,962 | ¥ | — | ¥ | 11,288 | ¥ | 132,775 | ||||||||||||||||
The changes in the carrying amount of goodwill by operating reportable segment for the years ended March 31, 2013 and 2014 are as follows: | |||||||||||||||||||||||||
Yen in millions | |||||||||||||||||||||||||
Balance as of | Acquisition | Impairment | Translation | Balance as of | |||||||||||||||||||||
April 1, | loss | adjustments | March 31, | ||||||||||||||||||||||
2013 | and Others | 2014 | |||||||||||||||||||||||
Goodwill: | |||||||||||||||||||||||||
Nidec Electronics (Thailand) | ¥ | 6,994 | ¥ | — | ¥ | — | ¥ | 651 | ¥ | 7,645 | |||||||||||||||
Nidec (Zhejiang) | 1,044 | — | — | 98 | 1,142 | ||||||||||||||||||||
Nidec Sankyo | 27,312 | 2,114 | — | 107 | 29,533 | ||||||||||||||||||||
Nidec Copal | 16,462 | — | — | — | 16,462 | ||||||||||||||||||||
Nidec Tosok | 1,038 | — | — | — | 1,038 | ||||||||||||||||||||
Nidec Copal Electronics | 6,561 | — | — | — | 6,561 | ||||||||||||||||||||
Nidec Techno Motor | 2,049 | — | — | — | 2,049 | ||||||||||||||||||||
Nidec Motor | 55,008 | — | — | 8,070 | 63,078 | ||||||||||||||||||||
Nidec Motors & Actuators | 6,385 | — | — | 933 | 7,318 | ||||||||||||||||||||
All Others | 9,922 | 9,668 | — | 511 | 20,101 | ||||||||||||||||||||
¥ | 132,775 | ¥ | 11,782 | ¥ | — | ¥ | 10,370 | ¥ | 154,927 |
Supplemental_cash_flow_informa
Supplemental cash flow information | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Supplemental cash flow information | ' | ||||||||||||
5. Supplemental cash flow information: | |||||||||||||
The supplemental information associated with the consolidated statements of cash flows for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Cash paid during the fiscal year for: | |||||||||||||
Income taxes | ¥ | 8,197 | ¥ | 25,879 | ¥ | 12,613 | |||||||
Interest | 327 | 395 | 1,636 | ||||||||||
Non-cash investing and financing activities: | |||||||||||||
Capital leasing receivables | 31 | — | — | ||||||||||
Capital lease obligations | 214 | 206 | 499 | ||||||||||
Change in ownership of subsidiaries in connection with share exchange transaction | |||||||||||||
—Change in common stock | — | 3,270 | 4,279 | ||||||||||
—Change in treasury stock | — | 16,710 | 20,655 | ||||||||||
Allowance_for_doubtful_account
Allowance for doubtful accounts | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Allowance for doubtful accounts | ' | ||||||||||||
6. Allowance for doubtful accounts: | |||||||||||||
NIDEC estimates losses for uncollectible accounts based on historical experience and the evaluation of the likelihood of success in collecting specific customer receivables. | |||||||||||||
An analysis of activity within the allowance for doubtful accounts for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||
Yen in millions | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Allowance for doubtful accounts at beginning of the year | ¥ | 1,013 | ¥ | 1,002 | ¥ | 1,375 | |||||||
Provision for doubtful accounts, net of reversal | 30 | 166 | 366 | ||||||||||
Write-offs | (30 | ) | (90 | ) | (267 | ) | |||||||
Translation adjustment and other | (11 | ) | 297 | 119 | |||||||||
Allowance for doubtful accounts at the end of the year | ¥ | 1,002 | ¥ | 1,375 | ¥ | 1,593 | |||||||
Inventories
Inventories | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Inventories | ' | ||||||||
7. Inventories: | |||||||||
Inventories consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Finished goods | ¥ | 42,599 | ¥ | 51,293 | |||||
Raw materials | 30,839 | 39,993 | |||||||
Work in process | 23,526 | 28,926 | |||||||
Supplies and other | 2,862 | 3,669 | |||||||
¥ | 99,826 | ¥ | 123,881 | ||||||
Other_current_assets
Other current assets | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other current assets | ' | ||||||||
8. Other current assets: | |||||||||
Other current assets as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Other receivable | ¥ | 13,740 | ¥ | 13,906 | |||||
Deferred tax assets (Note 16) | 12,787 | 10,434 | |||||||
Costs on uncompleted construction contracts | 5,799 | 9,572 | |||||||
Prepaid expenses | 4,079 | 5,225 | |||||||
Other | 11,954 | 8,926 | |||||||
¥ | 48,359 | ¥ | 48,063 | ||||||
“Other” primarily consists of taxes receivable. |
Marketable_securities_and_othe
Marketable securities and other securities investments | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Marketable securities and other securities investments | ' | ||||||||||||||||
9. Marketable securities and other securities investments: | |||||||||||||||||
Marketable securities and other securities investments include debt and equity securities of which the aggregate fair value, gross unrealized gains and losses and cost are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31, 2013 | |||||||||||||||||
Cost | Gross | Gross | Fair | ||||||||||||||
unrealized | unrealized | value | |||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale | |||||||||||||||||
Equity securities | ¥ | 7,838 | ¥ | 5,814 | ¥ | 3 | ¥ | 13,649 | |||||||||
Debt securities | 405 | 11 | 5 | 411 | |||||||||||||
Held-to-maturity | |||||||||||||||||
Japanese government debt securities | 301 | 3 | — | 304 | |||||||||||||
¥ | 8,544 | ¥ | 5,828 | ¥ | 8 | ¥ | 14,364 | ||||||||||
Securities not practicable to estimate fair value | |||||||||||||||||
Equity securities | ¥ | 1,539 | |||||||||||||||
Yen in millions | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Cost | Gross | Gross | Fair | ||||||||||||||
unrealized | unrealized | value | |||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale | |||||||||||||||||
Equity securities | ¥ | 7,652 | ¥ | 6,731 | ¥ | 0 | ¥ | 14,383 | |||||||||
Debt securities | — | — | — | — | |||||||||||||
Held-to-maturity | |||||||||||||||||
Japanese government debt securities | 400 | 2 | — | 402 | |||||||||||||
¥ | 8,052 | ¥ | 6,733 | ¥ | 0 | ¥ | 14,785 | ||||||||||
Securities not practicable to estimate fair value | |||||||||||||||||
Equity securities | ¥ | 1,654 | |||||||||||||||
During the years ended March 31, 2012, 2013 and 2014, the net unrealized gain on available-for-sale securities included as a component of accumulated other comprehensive income, net of applicable taxes, decreased by ¥53 million, increased by ¥174 million and increased by ¥2,998 million, respectively. | |||||||||||||||||
Proceeds from sale or redemption of marketable securities were ¥100 million, ¥692 million and ¥1,059 million for the years ended March 31, 2012, 2013 and 2014, respectively. On those sales, gross realized gains were ¥0 million, ¥347 million and ¥242 million and gross realized losses were ¥0 million, ¥0 million and ¥12 million, respectively. | |||||||||||||||||
NIDEC holds long-term investment securities that are classified as “marketable securities and other securities investments.” The securities issued by various non-public companies are recorded at cost, as their fair values are not readily determinable. NIDEC’s management employs a systematic methodology to assess the recoverability of such investments by reviewing the financial position of the underlying companies and the prevailing market conditions in which these companies operate to determine if NIDEC’s investment in each individual company is impaired and whether the impairment is other-than-temporary. If any impairment is assessed to be other-than-temporary, the cost of the investment is written-down by the impaired amount and the amount is recognized as a realized loss for the reporting period which the assessment is made. | |||||||||||||||||
The following tables present the gross unrealized losses on, and fair value of, NIDEC’s investment securities, aggregated by investment category and length of time that individual investment securities have been in a continuous unrealized loss position. | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31, 2013 | |||||||||||||||||
Less than 12 months | 12 months or more | ||||||||||||||||
Fair value | Unrealized | Fair value | Unrealized | ||||||||||||||
loss | loss | ||||||||||||||||
Equity securities | ¥ | 16 | ¥ | 1 | ¥ | 23 | ¥ | 2 | |||||||||
Debt securities | 182 | 5 | — | — | |||||||||||||
¥ | 198 | ¥ | 6 | ¥ | 23 | ¥ | 2 | ||||||||||
Yen in millions | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Less than 12 months | 12 months or more | ||||||||||||||||
Fair value | Unrealized | Fair value | Unrealized | ||||||||||||||
loss | loss | ||||||||||||||||
Equity securities | ¥ | 0 | ¥ | 0 | ¥ | 1 | ¥ | 0 | |||||||||
Debt securities | — | — | — | — | |||||||||||||
¥ | 0 | ¥ | 0 | ¥ | 1 | ¥ | 0 | ||||||||||
NIDEC presumes the value of investment securities is impaired if the fair value is below the original cost. Among the impaired investment securities, NIDEC presumes a decline in value of debt and equity securities is other-than-temporary if the fair value is significantly below the original cost for an extended period of time. The presumption of an other-than-temporary impairment may be overcome if there is evidence to support that the decline is temporary in nature due to the existence of other factors which overcome the duration or magnitude of the decline. On the other hand, even if a fair value is not significantly less than the original cost, the value of investment securities is impaired when specific factors indicate the decline in the fair value is other-than-temporary. | |||||||||||||||||
For the years ended March 31, 2013 and 2014, held-to-maturity securities of ¥301 million and ¥400 million were pledged as collateral for the deferred payments of certain taxes based on the Japanese Custom Act and Consumption Tax Law, respectively. |
Other_noncurrent_assets
Other non-current assets | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other non-current assets | ' | ||||||||
10. Other non-current assets: | |||||||||
Other non-current assets as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Intangible assets *1 | ¥ | 63,989 | ¥ | 68,606 | |||||
Deferred tax assets | 7,116 | 1,482 | |||||||
Other *2 | 5,810 | 7,599 | |||||||
¥ | 76,915 | ¥ | 77,687 | ||||||
Notes: | |||||||||
*1 | “Intangible assets” information is described in Note 4 “Goodwill and other intangible assets” | ||||||||
*2 | “Other” primarily consists of Long-term prepaid expenses. |
Shortterm_borrowings_and_longt
Short-term borrowings and long-term debt | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Short-term borrowings and long-term debt | ' | ||||||||
11. Short-term borrowings and long-term debt: | |||||||||
Short-term borrowings at March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Loans, principally from banks with average interest at March 31, 2013 and 2014 of 0.21% and 0.31% per annum, respectively | ¥ | 32,798 | ¥ | 22,600 | |||||
¥ | 32,798 | ¥ | 22,600 | ||||||
At March 31, 2014, NIDEC had unused lines of credit amounting to ¥228,674 million with banks. Under these programs, NIDEC is authorized to obtain short-term financing at prevailing interest rates. | |||||||||
Long-term debt at March 31, 2013 and 2014 are comprised of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Unsecured loans, representing obligations principally to banks and an insurance company | |||||||||
Due 2013 to 2026 in 2013 with interest ranging from 0.00% to 6.40% per annum in 2013 | ¥ | 73,925 | — | ||||||
Due 2014 to 2026 in 2014 with interest ranging from 0.00% to 6.80% per annum in 2014 | — | ¥ | 77,804 | ||||||
Zero coupon convertible bonds due 2015 | 100,247 | 95,891 | |||||||
Convertible at ¥5,313 for one common share | |||||||||
Unsecured straight bonds due 2017 | 65,000 | 65,000 | |||||||
Interest at 0.39% per annum in 2013 and 2014 | |||||||||
Unsecured straight bonds due 2019 | 15,000 | 15,000 | |||||||
Interest at 0.60% per annum in 2013 and 2014 | |||||||||
Unsecured straight bonds due 2022 | 20,000 | 20,000 | |||||||
Interest at 0.96% per annum in 2013 and 2014 | |||||||||
Unsecured straight bonds due 2016 | — | 50,000 | |||||||
Interest at 0.21% per annum in 2014 | |||||||||
Unsecured straight bonds due 2014 | 100 | 100 | |||||||
Issued by subsidiaries in 2011 which was newly consolidated in 2013 | |||||||||
Interest at 0.72% per annum in 2013 and 2014 | |||||||||
Capital lease obligations | |||||||||
Due 2013 to 2019 in 2013, with interest from 0.00% to 8.27% per annum in 2013 | 5,627 | — | |||||||
Due 2014 to 2019 in 2014, with interest from 0.00% to 15.74% per annum in 2014 | — | 4,861 | |||||||
279,899 | 328,656 | ||||||||
Less—Bonds current portion due within one year | (100,247 | ) | (100 | ) | |||||
Less—Long-term debt current portion due within one year | (31,841 | ) | (27,478 | ) | |||||
Less—Capital lease obligation current portion due within one year | (1,540 | ) | (1,667 | ) | |||||
¥ | 146,271 | ¥ | 299,411 | ||||||
Note: | |||||||||
Detail of Zero coupon convertible bonds, due 2015 is as follow; | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Principal amount | ¥ | 100,000 | ¥ | 95,750 | |||||
Unamortized premium | 247 | 141 | |||||||
Total | ¥ | 100,247 | ¥ | 95,891 | |||||
The euro yen denominated zero coupon convertible bonds with stock acquisition rights due 2015, which are listed at Singapore Stock Exchange, were issued on September 21, 2010, and are redeemable at 100% of principal amount on September 18, 2015 (maturity date). Concerning stock acquisition rights, the conversion price per share was ¥5,313 and the number of convertible shares is 18,021,833 as of March 31, 2014. The bonds are included in the calculation of diluted earnings per share as their impact is dilutive. | |||||||||
The bonds were reclassified from Current portion of long-term debt to Long-term debt, since the unexercised early redemption right to redeem such bonds at 100% of its principal amount expired. Prior to the expiration of the early redemption right on September 20, 2013, holders of ¥4,250 million aggregate principal amount of such convertible bonds exercised their early redemption right. | |||||||||
On April 1, 2014, the Company completed a two-for-one stock split. As a result, the conversion price of the Company’s Euro Yen Convertible Bonds with Stock Acquisition Rights due 2015 is adjusted from ¥10,626 to ¥5,313 and the number of convertible shares is changed from 9,010,916 to 18,021,833, pursuant to the Terms and Conditions of the Bonds set forth in the Offering Circular. | |||||||||
NIDEC was not required to bifurcate any of the embedded features contained in the bonds for accounting purposes. | |||||||||
The aggregate amounts of annual maturity of long-term debt during the next five years are as follows: | |||||||||
Yen in millions | |||||||||
Year ending | |||||||||
March 31 | |||||||||
2015 | ¥ | 29,245 | |||||||
2016 | 116,841 | ||||||||
2017 | 81,153 | ||||||||
2018 | 66,167 | ||||||||
2019 | 137 | ||||||||
2020 and thereafter | ¥ | 35,113 | |||||||
Standard agreements with certain banks in Japan include provisions that collateral (including sums on deposit with such banks) or guarantees will be furnished upon the banks’ request and that any collateral furnished, pursuant to such agreements or otherwise, will be applicable to all present or future indebtedness to such banks. There was no collateral furnished pursuant to the standard agreements with banks as of March 31, 2013 and 2014. |
Other_current_liabilities
Other current liabilities | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other current liabilities | ' | ||||||||
12. Other current liabilities: | |||||||||
Other current liabilities as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Accounts payable for property, plant and equipment | ¥ | 10,354 | ¥ | 9,857 | |||||
Advances received | 6,437 | 7,152 | |||||||
Income taxes payable | 4,013 | 4,557 | |||||||
Other | 11,628 | 11,576 | |||||||
¥ | 32,432 | ¥ | 33,142 | ||||||
“Other” primarily consists of product warranty liabilities. |
Pension_and_severance_plans
Pension and severance plans | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Pension and severance plans | ' | ||||||||||||||||
13. Pension and severance plans: | |||||||||||||||||
The Company and certain subsidiaries sponsor pension and retirement plans, which entitle employees, under most circumstances, to lump-sum indemnities or pension payments based on current rates of pay and length of service or the number of “points.” Under normal circumstances, the minimum payment prior to retirement age is an amount based on voluntary retirement. Employees receive additional benefits upon involuntary retirement, including retirement at the mandatory retirement age. | |||||||||||||||||
For the year ended March 31, 2014, certain subsidiaries in Japan modified the terms of the defined benefit plan. | |||||||||||||||||
According to the changes, gains and loss from prior service credit were recognized in consolidated financial statements. | |||||||||||||||||
Information regarding NIDEC’s employees’ defined benefit plans is as follows: | |||||||||||||||||
Japanese plans: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Change in benefit obligation: | |||||||||||||||||
Benefit obligation at beginning of year | ¥ | 14,255 | ¥ | 14,079 | |||||||||||||
Service cost | 910 | 927 | |||||||||||||||
Interest cost | 197 | 180 | |||||||||||||||
Actuarial loss | 163 | 196 | |||||||||||||||
Acquisition and other | 26 | 4,014 | |||||||||||||||
Plan amendment | — | (143 | ) | ||||||||||||||
Benefits paid | (1,472 | ) | (1,851 | ) | |||||||||||||
14,079 | 17,402 | ||||||||||||||||
Change in plan assets: | |||||||||||||||||
Fair value of plan assets at beginning of year | 7,096 | 7,827 | |||||||||||||||
Actual return on plan assets | 823 | 576 | |||||||||||||||
Employer contribution | 622 | 1,135 | |||||||||||||||
Acquisition and other | — | 2,856 | |||||||||||||||
Benefits paid | (714 | ) | (963 | ) | |||||||||||||
Fair value of plan assets at end of year | 7,827 | 11,431 | |||||||||||||||
Funded status | ¥ | (6,252 | ) | ¥ | (5,971 | ) | |||||||||||
Amounts included in the consolidated balance sheet are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Accrued pension and severance costs | ¥ | 6,272 | ¥ | 6,045 | |||||||||||||
Other non-current assets | (20 | ) | (74 | ) | |||||||||||||
Net amounts recognized | ¥ | 6,252 | ¥ | 5,971 | |||||||||||||
Amounts included in accumulated other comprehensive income (loss) as pension liability adjustments are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Actuarial loss | ¥ | (1,741 | ) | ¥ | (1,562 | ) | |||||||||||
Prior service credit | 1,407 | 1,393 | |||||||||||||||
Pension liability adjustments, pre-tax | ¥ | (334 | ) | ¥ | (169 | ) | |||||||||||
The accumulated benefit obligations for all defined benefit pension plans were ¥13,873 million and ¥17,136 million for the years ended March 31, 2013 and 2014, respectively. | |||||||||||||||||
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for which the accumulated benefit obligations exceed plan assets are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Projected benefit obligations | ¥ | 13,924 | ¥ | 12,805 | |||||||||||||
Accumulated benefit obligations | 13,718 | 12,539 | |||||||||||||||
Fair value of plan assets | ¥ | 7,653 | ¥ | 6,725 | |||||||||||||
Weighted-average assumptions used to determine benefit obligations as of March 31, 2013 and 2014 are as follows: | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Discount rate | 1.3 | % | 1.2 | % | |||||||||||||
Rate of compensation increase | 2.2 | % | 4.2 | % | |||||||||||||
Weighted-average assumptions used to determine net pension and severance costs for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Discount rate | 1.6 | % | 1.6 | % | 1.3 | % | |||||||||||
Expected return on plan assets | 2.3 | % | 2.3 | % | 2.6 | % | |||||||||||
Rate of compensation increase | 2.2 | % | 2.3 | % | 2.2 | % | |||||||||||
Yen in millions | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Components of net periodic (benefit) cost: | |||||||||||||||||
Service cost | ¥ | 983 | ¥ | 910 | ¥ | 927 | |||||||||||
Interest cost | 213 | 197 | 180 | ||||||||||||||
Expected return on plan assets | (134 | ) | (139 | ) | (164 | ) | |||||||||||
Amortization of net actuarial loss | 120 | 123 | 92 | ||||||||||||||
Amortization of prior service credit | (171 | ) | (146 | ) | (157 | ) | |||||||||||
Losses from curtailments and settlements | 296 | — | — | ||||||||||||||
Net periodic pension cost | ¥ | 1,307 | ¥ | 945 | ¥ | 878 | |||||||||||
Prior service cost and actuarial gain and loss are amortized using the straight-line method over the average remaining service period of active employees. The estimated prior service credit and net actuarial loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into benefits cost for the year ending March 31, 2015 are ¥157 million and ¥75 million, respectively. | |||||||||||||||||
Foreign plans: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Change in benefit obligation: | |||||||||||||||||
Benefit obligation at beginning of year | ¥ | 6,119 | ¥ | 19,966 | |||||||||||||
Service cost | 549 | 553 | |||||||||||||||
Interest cost | 625 | 741 | |||||||||||||||
Actuarial loss (gain) | 992 | (548 | ) | ||||||||||||||
Acquisition and other | 10,171 | 131 | |||||||||||||||
Foreign currency exchange rate changes | 2,297 | 2,155 | |||||||||||||||
Benefits paid | (787 | ) | (1,032 | ) | |||||||||||||
19,966 | 21,966 | ||||||||||||||||
Change in plan assets: | |||||||||||||||||
Fair value of plan assets at beginning of year | 563 | 7,014 | |||||||||||||||
Actual return on plan assets | 505 | 957 | |||||||||||||||
Employer contribution | 588 | 2,103 | |||||||||||||||
Acquisition and other | 4,994 | — | |||||||||||||||
Foreign currency exchange rate changes | 886 | 714 | |||||||||||||||
Benefits paid | (522 | ) | (675 | ) | |||||||||||||
Fair value of plan assets at end of year | 7,014 | 10,113 | |||||||||||||||
Funded status | ¥ | (12,952 | ) | ¥ | (11,853 | ) | |||||||||||
Amounts included in the consolidated balance sheet are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Accrued pension and severance costs | ¥ | 12,952 | ¥ | 11,853 | |||||||||||||
Net amounts recognized | ¥ | 12,952 | ¥ | 11,853 | |||||||||||||
Amounts included in accumulated other comprehensive income (loss) as pension liability adjustments are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Actuarial loss | ¥ | (952 | ) | ¥ | 142 | ||||||||||||
Pension liability adjustments, pre-tax | ¥ | (952 | ) | ¥ | 142 | ||||||||||||
The accumulated benefit obligations for all defined benefit pension plans were ¥19,708 million and ¥21,768 million for the years ended March 31, 2013 and 2014, respectively. | |||||||||||||||||
The projected benefit obligations, accumulated benefit obligations and fair value of plan assets for which the accumulated benefit obligations exceed plan assets are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Projected benefit obligations | ¥ | 19,966 | ¥ | 21,498 | |||||||||||||
Accumulated benefit obligations | 19,708 | 21,300 | |||||||||||||||
Fair value of plan assets | ¥ | 7,014 | ¥ | 9,464 | |||||||||||||
Weighted-average assumptions used to determine benefit obligations as of March 31, 2013 and 2014 are as follows: | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Discount rate | 4.4 | % | 4.4 | % | |||||||||||||
Rate of compensation increase | 3 | % | 3 | % | |||||||||||||
Weighted-average assumptions used to determine net pension and severance costs for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Discount rate | 5.7 | % | 4.7 | % | 4.4 | % | |||||||||||
Expected return on plan assets | 4.4 | % | 7.5 | % | 7.5 | % | |||||||||||
Rate of compensation increase | 2.9 | % | 3 | % | 3 | % | |||||||||||
Yen in millions | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Components of net periodic (benefit) cost: | |||||||||||||||||
Service cost | ¥ | 441 | ¥ | 549 | ¥ | 553 | |||||||||||
Interest cost | 230 | 625 | 741 | ||||||||||||||
Expected return on plan assets | (48 | ) | (445 | ) | (443 | ) | |||||||||||
Amortization of net actuarial loss (gain) | (2 | ) | 6 | 27 | |||||||||||||
Net periodic pension cost | ¥ | 621 | ¥ | 735 | ¥ | 878 | |||||||||||
Actuarial gain and losses are amortized using the straight-line method over the average remaining service period of active employees. The estimated net actuarial losses for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into benefits cost for the year ending March 31, 2015 is ¥12 million. | |||||||||||||||||
Japanese plans and foreign plans: | |||||||||||||||||
NIDEC’s policy and objective for plan asset management is to generate a stable return on the investment over the long term, which enables NIDEC’s pension funds to meet future benefit payment requirements under risks which NIDEC considers permissible. NIDEC formulates “basic” portfolio that suits the above-mentioned policy, and ensures that plan assets are allocated under this “basic” portfolio. NIDEC evaluates its actual return and revises the “basic” portfolio, if necessary. | |||||||||||||||||
NIDEC’s portfolio for plans consists of three major components: approximately 2% is invested in equity securities, approximately 4% is invested in debt securities, and approximately 94% is invested in other investment vehicles, primarily consisting of investments in pooled funds and life insurance company general accounts. | |||||||||||||||||
The equity securities are selected from stocks that are listed on the securities exchanges. The debt securities are selected from Japanese and foreign government bonds, public debt instruments, and corporate bonds. Pooled funds included in other assets invest in equity and debt securities in mixture selected from same as above two categories. As for investments in life insurance company general accounts, the contracts with the insurance companies include a guaranteed interest rate and return of capital. | |||||||||||||||||
The three levels of input used to measure fair value are more fully described in Note 19. The fair values of NIDEC’s pension plan assets at March 31, 2013 and 2014, by asset category, are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2013 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Equity securities: | |||||||||||||||||
Japanese companies | ¥ | 302 | ¥ | 302 | ¥ | — | ¥ | — | |||||||||
Foreign companies | 302 | 302 | — | — | |||||||||||||
Debt securities: | |||||||||||||||||
Pooled funds *1 | 593 | — | 593 | — | |||||||||||||
Other assets: | |||||||||||||||||
Cash and cash equivalents | 1,103 | 1,103 | — | — | |||||||||||||
Life insurance company general accounts | 3,040 | — | 3,040 | — | |||||||||||||
Pooled funds *2 | 7,431 | — | 7,431 | — | |||||||||||||
Others | 2,070 | — | — | 2,070 | |||||||||||||
Total | ¥ | 14,841 | ¥ | 1,707 | ¥ | 11,064 | ¥ | 2,070 | |||||||||
*1 | These funds invest in approximately 86% Japanese bonds, 14% foreign bonds. | ||||||||||||||||
*2 | These funds primarily invest in listed equity securities consisting of approximately 12% Japanese companies and 60% foreign companies, and debt security consisting of approximately 9% Japanese bonds and 16% foreign bonds. | ||||||||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2014 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Equity securities: | |||||||||||||||||
Japanese companies | ¥ | 281 | ¥ | 281 | ¥ | — | ¥ | — | |||||||||
Foreign companies | 233 | 233 | — | — | |||||||||||||
Debt securities: | |||||||||||||||||
Pooled funds *1 | 757 | — | 757 | — | |||||||||||||
Other assets: | |||||||||||||||||
Cash and cash equivalents | 1,793 | 1,793 | — | — | |||||||||||||
Life insurance company general accounts | 4,833 | — | 4,833 | — | |||||||||||||
Pooled funds *2 | 11,183 | — | 11,183 | — | |||||||||||||
Others | 2,464 | — | 2,464 | — | |||||||||||||
Total | ¥ | 21,544 | ¥ | 2,307 | ¥ | 19,237 | ¥ | — | |||||||||
*1 | These funds invest in approximately 68% Japanese bonds, 32% foreign bonds. | ||||||||||||||||
*2 | These funds primarily invest in listed equity securities consisting of approximately 7% Japanese companies and 31% foreign companies, and debt security consisting of approximately 6% Japanese bonds and 37% foreign bonds. | ||||||||||||||||
Level 1 assets are comprised primarily of cash and cash equivalents and equity securities, which are valued using an unadjusted quoted market price in active markets with sufficient volume and frequency of transactions. Level 2 assets are comprised primarily of pooled funds that invest in equity and debt securities, and investments in life insurance company general accounts. Pooled funds are valued at their net asset values that are calculated by the sponsor of the fund and have daily liquidity. The net asset value is based on the fair value of the underlying assets owned by the fund, minus its liabilities then divided by the number of units outstanding. Investments in life insurance company general accounts are valued at conversion value. | |||||||||||||||||
The table below sets forth a summary of changes in the fair value of plan assets categorized as Level 3 for the years ended March 31, 2013 and 2014. | |||||||||||||||||
Others | Yen in millions | ||||||||||||||||
March 31 | March 31 | ||||||||||||||||
2013 | 2014 | ||||||||||||||||
Balance at beginning of year | ¥ | — | ¥ | 2,070 | |||||||||||||
Acquisition *1 | 1,159 | — | |||||||||||||||
Purchases | 582 | — | |||||||||||||||
Actual return on plan assets and other | 329 | 394 | |||||||||||||||
Transfers out of level 3 *2 | — | (2,464 | ) | ||||||||||||||
Balance at end of year | ¥ | 2,070 | ¥ | — | |||||||||||||
*1 | As a result of the Acquisition of Minster, NIDEC acquired the plan assets categorized as Level 3. | ||||||||||||||||
*2 | All the level 3 assets were transferred into level 2 because we got the ability to redeem the level 3 assets at net asset value at the measurement date. | ||||||||||||||||
Others consist primarily of interests in common/collective trusts. The investments employ a funds of funds strategy in various hedge funds with multiple strategies. These investments are valued using the net asset values as provided by the funds. | |||||||||||||||||
NIDEC expects to contribute approximately ¥1,477 million to its defined benefit plans for the year ending March 31, 2015. | |||||||||||||||||
The future benefit payments for defined benefit plans are expected as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
Japanese | Foreign | ||||||||||||||||
plans | plans | ||||||||||||||||
2015 | ¥ | 811 | ¥ | 1,030 | |||||||||||||
2016 | 932 | 1,043 | |||||||||||||||
2017 | 886 | 942 | |||||||||||||||
2018 | 892 | 1,122 | |||||||||||||||
2019 | 1,153 | 1,121 | |||||||||||||||
Years 2020-2024 | ¥ | 5,667 | ¥ | 5,709 | |||||||||||||
Certain subsidiaries have a number of multiemployer plans. Total amounts of cost recognized for certain subsidiaries’ contributions to the plans were ¥252 million, ¥182 million and ¥169 million for the years ended March 31, 2012, 2013 and 2014, respectively. NIDEC expects to contribute approximately ¥156 million for the year ending March 31, 2015. | |||||||||||||||||
Certain subsidiaries have a number of defined contribution plans. Total amounts of cost recognized for certain subsidiaries’ contribution to the plans were ¥1,533 million, ¥1,999 million and ¥2,617 million for the years ended March 31, 2012, 2013 and 2014, respectively. NIDEC expects to contribute approximately ¥2,839 million for the year ending March 31, 2015. |
Other_longterm_liabilities
Other long-term liabilities | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other long-term liabilities | ' | ||||||||
14. Other long-term liabilities: | |||||||||
Other long-term liabilities as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Deferred tax liabilities | ¥ | 14,715 | ¥ | 17,138 | |||||
Unrecognized tax benefits, accrued interest and penalty* | 2,173 | 2,321 | |||||||
Other | 4,329 | 5,785 | |||||||
¥ | 21,217 | ¥ | 25,244 | ||||||
* Note: | “Unrecognized tax benefits, accrued interest and penalty” information is described in Note 16 “Income taxes” |
Equity
Equity | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Equity | ' | ||||||||||||||||||||
15. Equity: | |||||||||||||||||||||
The Japanese Company Law (the “Company Law”) provides that an amount equal to 10% of cash dividends from retained earnings by the Company and its Japanese subsidiaries must be appropriated as a legal reserve. No further appropriations are required when the sum of the legal reserves reaches 25% of stated capital. These reserves currently exceed 25% of stated capital and are available for dividends under the Company Law subject to approval at the shareholders’ meeting. Certain foreign subsidiaries are also required to appropriate their earnings to legal reserves under the laws of the respective countries. | |||||||||||||||||||||
The amount of statutory retained earnings of the Company available for dividend payments to shareholders was ¥69,109 million and ¥91,137 million for the years ended March 31, 2013 and 2014, respectively. In accordance with customary practice in Japan, the appropriations are not accrued in the financial statements for the period to which they relate, but are recorded in the subsequent accounting period. Retained earnings for the year ended March 31, 2014 includes amounts representing final cash dividends of ¥7,585 million, ¥27.5 per share. | |||||||||||||||||||||
Repurchased treasury stock is not entitled to a dividend under the Company Law. NIDEC resolved to repurchase its own shares at several meetings of its Board of Directors during the years ended March 31, 2013 and 2014. In accordance with the resolution, NIDEC repurchased 10,156,400 shares of treasury stock for the aggregate cost of ¥31,209 million and 1,000,000 shares of treasury stock for the aggregate cost of ¥2,696 million during years ended March 31, 2013 and 2014. NIDEC owned 20,311,044 shares, or ¥56,109 million and 14,343,952 shares, or ¥40,527 million of treasury stock repurchased for the years ended March 31, 2013 and 2014, which were restricted regarding the payment of cash dividend. | |||||||||||||||||||||
On October 1, 2012, NIDEC made the Nidec Sankyo Corporation (“NSNK”) a wholly owned subsidiary through a share exchange transaction. NIDEC allocated 6,350,630 shares of its common stock held in treasury to holders of NSNK stock in connection with the share exchange transaction. As a result of the share exchange transaction, NIDEC’s equity interests in NSNK increased from 77.1% to 100%. | |||||||||||||||||||||
On October 1, 2013, NIDEC made the Nidec Copal Corporation (“NCPL”) a wholly owned subsidiary through a share exchange transaction. NIDEC allocated 4,856,764 shares of its common stock held in treasury to holders of NCPL stock in connection with the share exchange transaction. As a result of the share exchange transaction, NIDEC’s equity interest in NCPL increased from 66.5% to 100.0%. | |||||||||||||||||||||
On October 1, 2013, NIDEC made the Nidec Tosok Corporation (“NTSC”) a wholly owned subsidiary through a share exchange transaction. NIDEC allocated 2,624,000 shares of its common stock held in treasury to holders of NTSC stock in connection with the share exchange transaction. As a result of the share exchange transaction, NIDEC’s equity interest in NTSC increased from 72.3% to 100.0%. | |||||||||||||||||||||
NIDEC implemented a two-for-one stock split on NIDEC’s common stock as of March 31, 2014.Therefore, NIDEC adjusted shares of common stock and those of treasury stock under the assumption that the stock split had been implemented on March 31, 2012, retrospectively. | |||||||||||||||||||||
Retained earnings relating to equity in undistributed earnings reflect ¥190 million, ¥152 million and ¥168 million of accumulated deficit of the companies accounted for by the equity method for the years ended March 31, 2012, 2013 and 2014. | |||||||||||||||||||||
The changes in accumulated other comprehensive income (loss) by component are as follows: | |||||||||||||||||||||
Yen in Millions | |||||||||||||||||||||
Foreign | Unrealized | Unrealized | Pension | Total | |||||||||||||||||
currency | gains | gains | liability | ||||||||||||||||||
translation | (losses) | (losses) | adjustments | ||||||||||||||||||
adjustments | from | from | |||||||||||||||||||
securities | derivative | ||||||||||||||||||||
instruments | |||||||||||||||||||||
For the year ended March 31, 2014: | |||||||||||||||||||||
Balance at March 31, 2013 | 12,636 | 1,187 | 242 | (1,112 | ) | 12,953 | |||||||||||||||
Other comprehensive income (loss) before reclassifications | 41,903 | 3,145 | (244 | ) | 754 | 45,558 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | (147 | ) | (22 | ) | 34 | (135 | ) | |||||||||||||
Net change during the current period other comprehensive income (loss) | 41,903 | 2,998 | (266 | ) | 788 | 45,423 | |||||||||||||||
Balance at March 31, 2014 | 54,539 | 4,185 | (24 | ) | (324 | ) | 58,376 | ||||||||||||||
Reclassification out of accumulated other comprehensive income (loss) are as follows: | |||||||||||||||||||||
Yen in Millions | |||||||||||||||||||||
Amount | Affected line items | ||||||||||||||||||||
Reclassified | in consolidated statement of income | ||||||||||||||||||||
from | |||||||||||||||||||||
Accumulated | |||||||||||||||||||||
other | |||||||||||||||||||||
comprehensive | |||||||||||||||||||||
income (loss) *1 | |||||||||||||||||||||
For the year ended March 31, 2014: | |||||||||||||||||||||
Unrealized gains (losses) from securities | (230 | ) | Gain from marketable securities, net | ||||||||||||||||||
83 | Income taxes | ||||||||||||||||||||
(147 | ) | Consolidated net income | |||||||||||||||||||
— | Net income attributable to noncontrolling interests | ||||||||||||||||||||
(147 | ) | Net income attributable to Nidec Corporation | |||||||||||||||||||
Unrealized gains (losses) from derivative instruments | (37 | ) | Cost of products sold, Interest expense. | ||||||||||||||||||
15 | Income taxes | ||||||||||||||||||||
(22 | ) | Consolidated net income | |||||||||||||||||||
— | Net income attributable to noncontrolling interests | ||||||||||||||||||||
(22 | ) | Net income attributable to Nidec Corporation | |||||||||||||||||||
Pension liability adjustments | (38 | ) | *2 | ||||||||||||||||||
22 | Income taxes | ||||||||||||||||||||
(16 | ) | Consolidated net income | |||||||||||||||||||
50 | Net income attributable to noncontrolling interests | ||||||||||||||||||||
34 | Net income attributable to Nidec Corporation | ||||||||||||||||||||
Total amount reclassified, net of tax and noncontrolling interests | (135 | ) | |||||||||||||||||||
*1 | Amounts in parentheses indicate gains in consolidated statement of income. | ||||||||||||||||||||
*2 | This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost. | ||||||||||||||||||||
Tax effects allocated to each component of other comprehensive income (loss) and reclassification adjustments, including amounts attributable to noncontrolling interests for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||||||||||
Yen in millions | |||||||||||||||||||||
Pre-tax | Tax benefit/ | Net-of-tax | |||||||||||||||||||
amount | (expense) | amount | |||||||||||||||||||
For the year ended March 31, 2012: | |||||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||
Foreign currency translation adjustments arising during period | ¥ | (2,665 | ) | ¥ | — | ¥ | (2,665 | ) | |||||||||||||
Reclassification adjustments for gains and losses realized in net income | 105 | — | 105 | ||||||||||||||||||
Unrealized gains (losses) from securities: | |||||||||||||||||||||
Unrealized holding losses arising during period | (358 | ) | 129 | (229 | ) | ||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 253 | (31 | ) | 222 | |||||||||||||||||
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges: | |||||||||||||||||||||
Unrealized losses arising during period | (541 | ) | 216 | (325 | ) | ||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 291 | (112 | ) | 179 | |||||||||||||||||
Pension liability adjustment: | |||||||||||||||||||||
Actuarial losses arising during period | (831 | ) | 114 | (717 | ) | ||||||||||||||||
Prior service cost arising during period | (10 | ) | 4 | (6 | ) | ||||||||||||||||
Reclassification adjustments for actuarial gains and losses realized in net income | 891 | (340 | ) | 551 | |||||||||||||||||
Reclassification adjustments for prior service credit and cost realized in net income | 463 | (198 | ) | 265 | |||||||||||||||||
Other comprehensive income (loss) | ¥ | (2,402 | ) | ¥ | (218 | ) | ¥ | (2,620 | ) | ||||||||||||
For the year ended March 31, 2013: | |||||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||
Foreign currency translation adjustments arising during period | ¥ | 62,024 | ¥ | — | ¥ | 62,024 | |||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 134 | — | 134 | ||||||||||||||||||
Unrealized gains (losses) from securities: | |||||||||||||||||||||
Unrealized holding gains arising during period | 156 | (56 | ) | 100 | |||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 88 | (37 | ) | 51 | |||||||||||||||||
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges: | |||||||||||||||||||||
Unrealized gains arising during period | 93 | (30 | ) | 63 | |||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 196 | (90 | ) | 106 | |||||||||||||||||
Pension liability adjustment: | |||||||||||||||||||||
Actuarial losses arising during period | (328 | ) | (93 | ) | (421 | ) | |||||||||||||||
Prior service cost arising during period | — | — | — | ||||||||||||||||||
Reclassification adjustments for actuarial gains and losses realized in net income | 130 | (45 | ) | 85 | |||||||||||||||||
Reclassification adjustments for prior service credit and cost realized in net income | (152 | ) | 55 | (97 | ) | ||||||||||||||||
Other comprehensive income (loss) | ¥ | 62,341 | ¥ | (296 | ) | ¥ | 62,045 | ||||||||||||||
For the year ended March 31, 2014: | |||||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||
Foreign currency translation adjustments arising during period | ¥ | 43,429 | ¥ | — | ¥ | 43,429 | |||||||||||||||
Reclassification adjustments for gains and losses realized in net income | — | — | — | ||||||||||||||||||
Unrealized gains (losses) from securities: | |||||||||||||||||||||
Unrealized holding gains arising during period | 4,567 | (1,440 | ) | 3,127 | |||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | (230 | ) | 83 | (147 | ) | ||||||||||||||||
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges: | |||||||||||||||||||||
Unrealized losses arising during period | (397 | ) | 153 | (244 | ) | ||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | (37 | ) | 15 | (22 | ) | ||||||||||||||||
Pension liability adjustment: | |||||||||||||||||||||
Actuarial gains arising during period | 1,071 | (378 | ) | 693 | |||||||||||||||||
Prior service cost arising during period | 74 | (14 | ) | 60 | |||||||||||||||||
Reclassification adjustments for actuarial gains and losses realized in net income | 119 | (35 | ) | 84 | |||||||||||||||||
Reclassification adjustments for prior service credit and cost realized in net income | (157 | ) | 57 | (100 | ) | ||||||||||||||||
Other comprehensive income (loss) | ¥ | 48,439 | ¥ | (1,559 | ) | ¥ | 46,880 | ||||||||||||||
Income_taxes
Income taxes | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Income taxes | ' | ||||||||||||
16. Income taxes: | |||||||||||||
The components of income from continuing operations before income tax comprise the following: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Income (loss) from continuing operations before income taxes: | |||||||||||||
The Company and domestic subsidiaries | ¥ | 46,181 | ¥ | (7,473 | ) | ¥ | 25,463 | ||||||
Foreign subsidiaries | 24,675 | 20,871 | 59,201 | ||||||||||
¥ | 70,856 | ¥ | 13,398 | ¥ | 84,664 | ||||||||
The provision for income taxes consists of the following: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Current income tax expense/(benefit): | |||||||||||||
The Company and domestic subsidiaries | ¥ | (4,462 | ) | ¥ | 9,200 | ¥ | 1,872 | ||||||
Foreign subsidiaries | 6,694 | 5,713 | 10,139 | ||||||||||
Total current | 2,232 | 14,913 | 12,011 | ||||||||||
Deferred income tax expense (benefit): | |||||||||||||
The Company and domestic subsidiaries | 16,289 | (5,504 | ) | 12,649 | |||||||||
Foreign subsidiaries | 280 | (2,847 | ) | 1,069 | |||||||||
Total deferred | 16,569 | (8,351 | ) | 13,718 | |||||||||
Total provision | ¥ | 18,801 | ¥ | 6,562 | ¥ | 25,729 | |||||||
NIDEC is subject to a number of different income taxes, which, in the aggregate, indicate a statutory rate in Japan of approximately 41.0% in 2012 and approximately 38.0% in 2013 and 2014. Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows: | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Statutory tax rate | 41 | % | 38 | % | 38 | % | |||||||
Increase (reduction) in taxes resulting from: | |||||||||||||
Tax benefit in foreign subsidiaries | (16.1 | ) | (43.6 | ) | (14.6 | ) | |||||||
Tax on undistributed earnings | 5.1 | 8.9 | 2.2 | ||||||||||
Valuation allowance | 4.1 | 33.7 | (2.3 | ) | |||||||||
Liabilities for unrecognized tax benefits | (10.5 | ) | 2.3 | (0.1 | ) | ||||||||
Reversal of deferred tax assets related to foreign tax credit | — | — | 5.3 | ||||||||||
Changes in Japanese income tax rates | 1.4 | — | 0.3 | ||||||||||
Other | 1.5 | 9.7 | 1.6 | ||||||||||
Effective income tax rate | 26.5 | % | 49 | % | 30.4 | % | |||||||
The effective income tax rate decreased 18.6 percentage points from 49.0% for the year ended March 31, 2013 to 30.4% for the year ended March 31, 2014. This was mainly due to provision for valuation allowance relating to the tax losses at some of our subsidiaries carried forward for the year ended March 31, 2013 which was more than offset by reversal of valuation allowance for the year ended March 31, 2014 at some of our other subsidiaries due to recovery in their business performance. | |||||||||||||
Impact of tax benefit in foreign subsidiaries decreased 29.0 percentage points from minus 43.6% for the year ended March 31, 2013 to minus 14.6% for the year ended March 31, 2014. This was because the income before income taxes increased for the year ended March 31, 2014 compared to the year ended March 31, 2013, especially in domestic subsidiaries. | |||||||||||||
Tax benefit in foreign subsidiaries primarily relates to income sourced from foreign subsidiaries mainly in Thailand and the Philippines. | |||||||||||||
In Thailand, NIDEC received privileges under the promotional certificates issued in March and August 2010. Under these privileges, NIDEC received an exemption from corporate income tax for a period of eight years from the date of commencement of certain revenue-generating activities identified by the promotional certificate. | |||||||||||||
In the Philippines, NIDEC received certain tax incentives in September 2011, which included an income tax holiday for four years. | |||||||||||||
The aggregate amounts and per share effects of tax holidays are as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Aggregate amounts of tax holidays | ¥ | 4,023 | ¥ | 2,968 | ¥ | 4,362 | |||||||
Yen | |||||||||||||
Per share—basic | ¥ | 14.63 | ¥ | 11.02 | ¥ | 16.03 | |||||||
—diluted | ¥ | 13.69 | ¥ | 10.3 | ¥ | 15.02 | |||||||
The significant components of deferred tax assets and liabilities are as follows: | |||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Deferred tax assets: | |||||||||||||
Inventories | ¥ | 3,142 | ¥ | 2,818 | |||||||||
Marketable securities | 1,102 | — | |||||||||||
Property, plant and equipment | — | 5,019 | |||||||||||
Accrued bonus | 2,242 | 2,330 | |||||||||||
Accrued enterprise tax | — | 221 | |||||||||||
Pension and severance plans | 4,526 | 4,464 | |||||||||||
Operating loss carryforwards for tax purposes | 13,646 | 12,811 | |||||||||||
Foreign tax credit | 5,402 | — | |||||||||||
Accrued vacation | 1,135 | 1,090 | |||||||||||
Accrued expenses | 3,636 | 1,421 | |||||||||||
Other | 2,613 | 2,666 | |||||||||||
Gross deferred tax assets | 37,444 | 32,840 | |||||||||||
Less—Valuation allowance | (14,492 | ) | (14,561 | ) | |||||||||
Net deferred tax assets | 22,952 | 18,279 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Refund of enterprise taxes | (285 | ) | — | ||||||||||
Basis difference of acquired assets | (4,495 | ) | (458 | ) | |||||||||
Property, plant and equipment | (1,058 | ) | — | ||||||||||
Undistributed earnings not permanently reinvested | (7,856 | ) | (9,311 | ) | |||||||||
Marketable securities | — | (321 | ) | ||||||||||
Intangible assets | (4,816 | ) | (9,813 | ) | |||||||||
Other | (1,083 | ) | (5,181 | ) | |||||||||
Gross deferred tax liabilities | (19,593 | ) | (25,084 | ) | |||||||||
Net deferred tax assets (liabilities) | ¥ | 3,359 | ¥ | (6,805 | ) | ||||||||
Operating loss carryforwards for tax purposes on March 31, 2014 amounted to approximately ¥35,843 million and are available as an offset against future taxable income of such subsidiaries. | |||||||||||||
With the exception of ¥6,245 million with no expiration period, total available operating loss carryforwards will expire at various dates primarily up to 9 years. Operating loss carryforwards for tax purposes occurred mainly in Japan and will become expired primarily up to 2023. | |||||||||||||
The valuation allowance mainly relates to deferred tax assets of consolidated subsidiaries with operating loss carryforwards for tax purposes that are not expected to be realized. The net changes in the total valuation allowance for deferred tax assets for the years ended March 31, 2012, 2013 and 2014 consist of the following: | |||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Valuation allowance at beginning of year | ¥ | (6,235 | ) | ¥ | (9,786 | ) | ¥ | (14,492 | ) | ||||
Additions | (3,490 | ) | (7,660 | ) | (4,231 | ) | |||||||
Deductions | 1,581 | 2,994 | 4,183 | ||||||||||
Impact on newly acquired companies | (1,642 | ) | (40 | ) | (21 | ) | |||||||
Valuation allowance at end of year | ¥ | (9,786 | ) | ¥ | (14,492 | ) | ¥ | (14,561 | ) | ||||
Net deferred tax assets are included in the consolidated balance sheets as follows: | |||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Deferred tax assets: | |||||||||||||
Other current assets | ¥ | 12,787 | ¥ | 10,434 | |||||||||
Other non-current assets | 7,116 | 1,482 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Other current liabilities | (1,829 | ) | (1,583 | ) | |||||||||
Other long-term liabilities | (14,715 | ) | (17,138 | ) | |||||||||
Net deferred tax assets | ¥ | 3,359 | ¥ | (6,805 | ) | ||||||||
Management of NIDEC intends to reinvest certain undistributed earnings of foreign subsidiaries for an indefinite period of time. As a result, no deferred tax liability has been recorded on undistributed earnings of these subsidiaries, which are not expected to be remitted in the foreseeable future, aggregating ¥157,931 million as of March 31, 2014. NIDEC estimates an additional deferred tax liability of ¥11,558 million would be required at such time if the full amount of these accumulated earnings were expected to be remitted. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Balance at April 1 | ¥ | 9,199 | ¥ | 1,766 | ¥ | 2,361 | |||||||
Additions for tax positions of the current year | 1,766 | 44 | 357 | ||||||||||
Additions for tax positions of prior years | — | 551 | — | ||||||||||
Reduction for tax positions of prior years | — | — | (486 | ) | |||||||||
Settlements | (9,199 | ) | — | — | |||||||||
Balance at March 31 | ¥ | 1,766 | ¥ | 2,361 | ¥ | 2,232 | |||||||
Total amount of unrecognized tax benefits that would reduce the effective tax rate, if recognized, is ¥2,232 million. | |||||||||||||
Although NIDEC believes its estimates and assumptions of unrecognized tax benefits are reasonable, uncertainty regarding the final determination of tax audit settlements and any related litigation could affect the effective tax rate in the future periods. A significant change to the unrecognized tax benefits might occur within the next twelve months. NIDEC does not expect that such change will have a significant impact on consolidated results of operations and financial position. | |||||||||||||
NIDEC recognizes interest and penalties related to unrecognized tax benefits as a component of other, net in the consolidated statements of income. The interest and penalties for the fiscal years ended March 31, 2012, 2013 and 2014, respectively, had no material impact on its consolidated results of operations. The total gross accrued interest and penalty were ¥192 million and ¥89 million at March 31, 2013 and 2014, respectively. | |||||||||||||
NIDEC remains subject to income tax examination for the tax returns related to the years beginning on and after January 1, 2007, with various tax jurisdictions including Japan. |
Reconciliation_of_the_differen
Reconciliation of the differences between basic and diluted earnings per share | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Reconciliation of the differences between basic and diluted earnings per share | ' | ||||||||||||
17. Reconciliation of the differences between basic and diluted earnings per share: | |||||||||||||
The tables below set forth a reconciliation of the differences between basic and diluted income attributable to Nidec Corporation per share for the years ended March 31, 2012, 2013 and 2014. | |||||||||||||
Yen in | Thousands of | Yen | |||||||||||
millions | shares | ||||||||||||
Net income | Weighted- | Net income | |||||||||||
(loss) | average | (loss) | |||||||||||
attributable to | shares | attributable to | |||||||||||
Nidec | Nidec | ||||||||||||
Corporation | Corporation | ||||||||||||
per share | |||||||||||||
For the year ended March 31, 2012: | |||||||||||||
Basic net income attributable to Nidec Corporation per share: | |||||||||||||
Income from continuing operations attributable to Nidec Corporation | ¥ | 46,242 | 274,981 | ¥ | 168.16 | ||||||||
Loss on discontinued operations attributable to Nidec Corporation | (5,511 | ) | 274,981 | (20.04 | ) | ||||||||
Net income attributable to Nidec Corporation | 40,731 | 274,981 | 148.12 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Zero coupon convertible bonds | (55 | ) | 18,821 | ||||||||||
Diluted net income attributable to Nidec Corporation per share: | |||||||||||||
Income from continuing operations attributable to Nidec Corporation | 46,187 | 293,802 | 157.2 | ||||||||||
Loss on discontinued operations attributable to Nidec Corporation | (5,511 | ) | 293,802 | (18.75 | ) | ||||||||
Net income attributable to Nidec Corporation | ¥ | 40,676 | 293,802 | ¥ | 138.45 | ||||||||
For the year ended March 31, 2013: | |||||||||||||
Basic net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 7,986 | 269,429 | ¥ | 29.64 | ||||||||
Effect of dilutive securities: | |||||||||||||
Zero coupon convertible bonds | (61 | ) | 18,821 | ||||||||||
Diluted net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 7,925 | 288,250 | ¥ | 27.49 | ||||||||
Yen in | Thousands of | Yen | |||||||||||
millions | shares | ||||||||||||
Net income | Weighted- | Net income | |||||||||||
(loss) | average | (loss) | |||||||||||
attributable to | shares | attributable to | |||||||||||
Nidec | Nidec | ||||||||||||
Corporation | Corporation | ||||||||||||
per share | |||||||||||||
For the year ended March 31, 2014: | |||||||||||||
Basic net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 56,404 | 272,078 | ¥ | 207.31 | ||||||||
Effect of dilutive securities: | |||||||||||||
Zero coupon convertible bonds | (64 | ) | 18,400 | ||||||||||
Diluted net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 56,340 | 290,478 | ¥ | 193.96 | ||||||||
NIDEC implemented a two-for-one stock split on our common stock effective April 1, 2014. Therefore, NIDEC adjusted the earnings per share have been accordingly adjusted to reflect the effect of the stock split. |
Derivatives
Derivatives | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | |||||||||||||||
Derivatives | ' | ||||||||||||||
18. Derivatives: | |||||||||||||||
NIDEC manages the exposures to fluctuations in foreign exchange rate, interest rate, and commodity prices through the use of derivative financial instruments which include foreign exchange forward contracts, currency option contracts, interest rate swap agreement and commodity future contracts. NIDEC does not hold derivative financial instruments for trading purpose. NIDEC is exposed to credit risk in the event of non-performance by counterparties to the derivative contracts, but such risk is considered and mitigated by the high credit rating of the counterparties. | |||||||||||||||
Cash flow hedges | |||||||||||||||
NIDEC uses foreign exchange forward contracts, interest rate swap agreements and commodity future contracts designated as cash flow hedges to protect against a portion of foreign exchange rate risks, interest rate risks and commodity prices risks inherent in its forecasted transactions related to purchase commitments. | |||||||||||||||
Derivatives not designated as hedges | |||||||||||||||
NIDEC is unable or has elected not to apply hedge accounting to some of these derivatives from time to time. The changes in the fair value of these contracts are recorded in ‘Other income (expense)’. | |||||||||||||||
The contractual amounts outstanding of derivative instruments | |||||||||||||||
Derivatives designated as hedging instruments are as follows: | |||||||||||||||
Yen in millions | |||||||||||||||
March 31, 2013 | March 31, 2014 | ||||||||||||||
Foreign exchange forward contracts | ¥ | 7,403 | ¥ | 9,736 | |||||||||||
Interest rate swap agreements | 32,205 | 20,587 | |||||||||||||
Commodity futures | 3,739 | 4,610 | |||||||||||||
Derivatives not designated as hedging instruments are as follows: | |||||||||||||||
Yen in millions | |||||||||||||||
March 31, 2013 | March 31, 2014 | ||||||||||||||
Foreign exchange forward contracts | ¥ | 149 | ¥ | 1,800 | |||||||||||
Currency option contracts | 231 | 53 | |||||||||||||
Fair values of derivative instruments | |||||||||||||||
Derivatives designated as cash flow hedge are as follows: | |||||||||||||||
Asset Derivatives | |||||||||||||||
Balance sheet location | Yen in millions | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2013 | 2014 | ||||||||||||||
Foreign exchange forward contracts | Other current assets | ¥ | 659 | ¥ | 271 | ||||||||||
Liability Derivatives | |||||||||||||||
Balance sheet location | Yen in millions | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2013 | 2014 | ||||||||||||||
Foreign exchange forward contracts | Other current liabilities | ¥ | 22 | ¥ | 1 | ||||||||||
Interest rate swap agreements | Other current liabilities | 20 | 31 | ||||||||||||
Commodity futures | Other current liabilities | 181 | 239 | ||||||||||||
Derivatives not designated as hedging instruments are as follows: | |||||||||||||||
Asset Derivatives | |||||||||||||||
Balance sheet location | Yen in millions | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2013 | 2014 | ||||||||||||||
Foreign exchange forward contracts | Other current assets | ¥ | 16 | ¥ | 4 | ||||||||||
Currency option contracts | Other current assets | 10 | 7 | ||||||||||||
The effect of derivative instruments on the consolidated statements of income for the year ended March 31 | |||||||||||||||
Derivatives designated as cash flow hedge are as follows: | |||||||||||||||
Gains (losses) recognized in accumulated other comprehensive income | |||||||||||||||
Yen in millions | |||||||||||||||
For the year ended March 31 | |||||||||||||||
2012 | 2013 | 2014 | |||||||||||||
Foreign exchange forward contracts | ¥ | (68 | ) | ¥ | 277 | ¥ | (229 | ) | |||||||
Interest rate swap agreements | — | (6 | ) | (5 | ) | ||||||||||
Commodity futures | (78 | ) | (102 | ) | (32 | ) | |||||||||
Gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) | |||||||||||||||
Statement of income location | Yen in millions | ||||||||||||||
For the year ended March 31 | |||||||||||||||
2012 | 2013 | 2014 | |||||||||||||
Foreign exchange forward contracts | Cost of sales | ¥ | 17 | ¥ | 81 | ¥ | 241 | ||||||||
Interest rate swap agreements | Interest expense | — | (4 | ) | (7 | ) | |||||||||
Commodity futures | Cost of sales | (196 | ) | (183 | ) | (212 | ) | ||||||||
The amount of hedge ineffectiveness and net gains (losses) excluded from the assessment of hedge effectiveness was not material for the year ended March 31, 2014. | |||||||||||||||
A net loss of ¥27 million in accumulated other comprehensive income at March 31, 2014 is expected to be reclassified into earnings within the next 12 months. | |||||||||||||||
As of March 31, 2014, the maximum length of time over which NIDEC hedged its exposure to variability in future cash flows for forecasted transactions was approximately 23 months. | |||||||||||||||
Derivatives not designated as hedging instruments are as follows: | |||||||||||||||
Gains (losses) recognized in income | |||||||||||||||
Statement of income location | Yen in millions | ||||||||||||||
For the year ended March 31 | |||||||||||||||
2012 | 2013 | 2014 | |||||||||||||
Foreign exchange forward contracts | Foreign exchange gain (loss), net | ¥ | — | ¥ | 22 | ¥ | 23 | ||||||||
Currency option contracts | Foreign exchange gain (loss), net | — | 40 | 18 | |||||||||||
Interest rate currency swap agreements | Other, net | 2 | — | — | |||||||||||
Fair_Value
Fair Value | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value | ' | ||||||||||||||||
19. Fair Value: | |||||||||||||||||
Under Statement of ASC 820, “Fair Value Measurements and Disclosures”, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that reflect the assumptions market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect NIDEC’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The hierarchy is broken down into three levels. | |||||||||||||||||
Level 1 inputs are quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs (other than quoted prices) that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||||||||||||
Level 3 inputs are unobservable inputs for the asset or liability. | |||||||||||||||||
Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
Assets and Liabilities that are measured at Fair Value on a Recurring Basis: | |||||||||||||||||
The following table provides information by level for assets and liabilities that are measured at fair value, as defined by ASC 820, on a recurring basis. | |||||||||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2013 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | ¥ | 14,060 | ¥ | 13,649 | ¥ | 411 | — | ||||||||||
Derivatives | 685 | — | 685 | — | |||||||||||||
Total assets: | ¥ | 14,745 | ¥ | 13,649 | ¥ | 1,096 | — | ||||||||||
Liabilities: | |||||||||||||||||
Derivatives | ¥ | 223 | ¥ | 181 | ¥ | 42 | — | ||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2014 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | ¥ | 14,383 | ¥ | 14,383 | — | — | |||||||||||
Derivatives | 282 | — | 282 | — | |||||||||||||
Total assets: | ¥ | 14,665 | ¥ | 14,383 | ¥ | 282 | — | ||||||||||
Liabilities: | |||||||||||||||||
Derivatives | ¥ | 271 | ¥ | 239 | ¥ | 32 | — | ||||||||||
Level 1 securities and derivatives including commodity futures are valued using an unadjusted quoted market price in active markets with sufficient volume and frequency of transactions. | |||||||||||||||||
Level 2 securities are valued using non-active market prices for identical assets. | |||||||||||||||||
Level 2 derivatives including foreign exchange contracts are valued using quotes obtained from counterparties or third parties, which are periodically validated by pricing models using observable market inputs, such as foreign currency exchange rates, and interest rates. | |||||||||||||||||
Fair value of financial instruments: | |||||||||||||||||
The carrying amount and estimated fair values of NIDEC’s financial instruments, excluding those disclosed elsewhere, are summarized as follows: | |||||||||||||||||
Yen in millions | Yen in millions | ||||||||||||||||
March 31, 2013 | March 31, 2014 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
amount | fair value | amount | Fair value | ||||||||||||||
Asset (Liability): | |||||||||||||||||
Cash and cash equivalents | ¥ | 193,420 | ¥ | 193,420 | ¥ | 247,740 | ¥ | 247,740 | |||||||||
Short-term investments | 1,552 | 1,552 | 2,344 | 2,344 | |||||||||||||
Long-term investments | — | — | 83 | 82 | |||||||||||||
Short-term loan receivable | 132 | 132 | 157 | 157 | |||||||||||||
Long-term loan receivable | 89 | 91 | 48 | 50 | |||||||||||||
Short-term borrowings | (32,798 | ) | (32,798 | ) | (22,600 | ) | (22,600 | ) | |||||||||
Long-term debt including the current portion and excluding capital lease obligation and bonds | (73,925 | ) | (73,907 | ) | (77,804 | ) | (77,486 | ) | |||||||||
Bonds including the current portion | ¥ | (200,347 | ) | ¥ | (200,850 | ) | ¥ | (245,991 | ) | ¥ | (271,853 | ) | |||||
The following are explanatory notes relating to the financial instruments. | |||||||||||||||||
Cash and cash equivalents, short-term investments, short-term loans receivable and short-term borrowings: In the normal course of business, substantially all cash and cash equivalents, short-term investments (time deposits), short-term loans receivable and short-term borrowings are highly liquid and are carried at amounts that approximate fair value. | |||||||||||||||||
Long-term investments: NIDEC’s long-term investments are time deposits which are due over one year from the year ended March 31, 2014 to original maturity and are classified as Level 2 instruments. The fair value of long-term investments was estimated by discounting expected future cash flows. | |||||||||||||||||
Long-term loan receivable: NIDEC’s long-term loan receivable instruments are classified as Level 2 instruments. The fair value of long-term loans was estimated by discounting expected future cash flows. | |||||||||||||||||
Long-term debt: NIDEC’s long-term debt instruments are classified as Level 2 instruments. The fair value of long-term bank loans (including the current portion and excluding the capital lease obligation and bonds) was estimated based on the discounted amounts of future cash flows using NIDEC’s current incremental borrowing rates for similar liabilities. | |||||||||||||||||
Bonds: NIDEC’s bonds instruments are classified as Level 2 instruments. The fair value of bonds issued by NIDEC was estimated based on their market price that are not active other than quoted prices. | |||||||||||||||||
Carrying amounts of “Trade notes and accounts receivable” and “Trade notes and accounts payable” approximate fair value because of the short maturity of these instruments. The table described above excludes these financial instruments. |
Related_party_transactions
Related party transactions | 12 Months Ended |
Mar. 31, 2014 | |
Related party transactions | ' |
20. Related party transactions: | |
As of March 31, 2014, the Chief Executive Officer (“CEO”) of the Company, a business entity indirectly owned by the CEO (“the business entity”), and the CEO’s immediate family member held 9.1%, 4.0% and 1.9% of the outstanding shares of the Company, respectively. | |
In October 2012, the Company entered into a share exchange transaction with NSNK to make NSNK a wholly owned subsidiary of the Company. The Company allocated 6,350,630 shares of the Company’s common stock held in treasury into shareholders of NSNK except for the Company. The CEO was allocated 306,272 shares of the Company’s common stock held in treasury in exchange for shares of NSNK which the CEO had owned. This related party transaction with the CEO was at arm’s-length. This related party transaction did not have a material impact on NIDEC’s consolidated financial position, results of operations and liquidity. | |
In October 2013, the Company entered into a share exchange transaction with NCPL to make NCPL a wholly owned subsidiary of the Company. The Company allocated 4,856,764 shares of the Company’s common stock held in treasury into shareholders of NCPL except for the Company. The CEO was allocated 589,992 shares of the Company’s common stock held in treasury in exchange for shares of NCPL which the CEO had owned. This related party transaction with the CEO was at arm’s-length. This related party transaction did not have a material impact on NIDEC’s consolidated financial position, results of operations and liquidity. | |
In October 2013, the Company entered into a share exchange transaction with NTSC to make NTSC a wholly owned subsidiary of the Company. The Company allocated 2,624,000 shares of the Company’s common stock held in treasury into shareholders of NTSC except for the Company. The CEO and the business entity were allocated 322,400 shares and 49,600 shares of the Company’s common stock, respectively, held in treasury in exchange for shares of NTSC which the CEO and the business entity had owned. These related party transactions with the CEO and the business entity was at arm’s-length. These related party transactions did not have a material impact on NIDEC’s consolidated financial position, results of operations and liquidity. |
Lease_commitments
Lease commitments | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Lease commitments | ' | ||||||||
21. Lease commitments: | |||||||||
NIDEC leases certain assets under capital lease and operating lease arrangements. An analysis of leased assets under capital leases is as follows: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
Class of property | 2013 | 2014 | |||||||
Machinery and equipment | ¥ | 6,950 | ¥ | 7,336 | |||||
Other leased assets | 65 | 109 | |||||||
Less—Accumulated amortization | (1,345 | ) | (2,511 | ) | |||||
¥ | 5,670 | ¥ | 4,934 | ||||||
Amortization expenses under capital leases for the years ended March 31, 2012, 2013 and 2014 were ¥835 million, ¥524 million and ¥1,305 million, respectively. | |||||||||
The future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of March 31, 2014 are as follows: | |||||||||
Yen in | |||||||||
millions | |||||||||
Year ending March 31: | |||||||||
2015 | ¥ | 1,810 | |||||||
2016 | 2,019 | ||||||||
2017 | 658 | ||||||||
2018 | 563 | ||||||||
2019 | 114 | ||||||||
2020 and thereafter | 9 | ||||||||
Total minimum lease payments | 5,173 | ||||||||
Less—Amount representing interest | (312 | ) | |||||||
Present value of net minimum lease payments | 4,861 | ||||||||
Less—Current obligations | (1,667 | ) | |||||||
Long-term capital lease obligations | ¥ | 3,194 | |||||||
Rental expenses under operating leases for the years ended March 31, 2012, 2013 and 2014 were ¥1,526 million, ¥2,719 million and ¥2,586 million, respectively. | |||||||||
The minimum rental payments required under operating leases relating primarily to land, buildings and equipment having initial or remaining non-cancelable lease terms in excess of one year as of March 31, 2014 are as follows: | |||||||||
Yen in | |||||||||
millions | |||||||||
Year ending March 31: | |||||||||
2015 | ¥ | 2,319 | |||||||
2016 | 1,757 | ||||||||
2017 | 1,197 | ||||||||
2018 | 996 | ||||||||
2019 | 965 | ||||||||
2020 and thereafter | 1,941 | ||||||||
Total minimum future rentals | ¥ | 9,175 | |||||||
NIDEC is a lessor in direct financing leases and operating leases for which a portion of the land, office and manufacturing facilities is subleased over various terms. The direct financing leases did not have a material impact on our consolidated financial position or results of operations. | |||||||||
Rental revenues under operating leases for the years ended March 31, 2012, 2013 and 2014 were ¥373 million, ¥412 million and ¥175 million, respectively. | |||||||||
The future minimum lease payments to be received under operating leases that have remaining non-cancelable terms as of March 31, 2014 are as follows: | |||||||||
Yen in | |||||||||
millions | |||||||||
Year ending March 31: | |||||||||
2015 | ¥ | 31 | |||||||
2016 | 25 | ||||||||
2017 | 25 | ||||||||
2018 | 26 | ||||||||
2019 | 26 | ||||||||
2020 and thereafter | 91 | ||||||||
Total minimum future rentals | ¥ | 224 | |||||||
Flooding_in_Thailand
Flooding in Thailand | 12 Months Ended |
Mar. 31, 2014 | |
Flooding in Thailand | ' |
22. Flooding in Thailand: | |
The flooding in Thailand that occurred in October 2011 caused water damage to buildings, machinery, and other property, plant and equipment as well as inventories at some of NIDEC’s subsidiaries. For the year ended March 31, 2012, NIDEC has recognized a loss of ¥17,269 million, which comprises ¥13,730 million for property, plant and equipment and ¥3,539 million for inventory associated with water damage. For the years ended March 31, 2013 and 2014, NIDEC has not recognized a loss. | |
NIDEC has insurance policies which cover certain damage directly caused by the flooding in Thailand. The insurance policies cover the damage associated with fixed assets and inventories. NIDEC has recognized insurance recoveries up to fair value or replacement cost that was approved by insurance company at some of NIDEC’s subsidiaries. As a result, NIDEC has recorded a net gain of ¥5,932 million and ¥4,027 million in operating income for the year ended March 31, 2012 and 2013, respectively. |
Other_commitments_and_continge
Other commitments and contingencies, concentrations and factors that may affect future operations | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other commitments and contingencies, concentrations and factors that may affect future operations | ' | ||||||||
23. Other commitments and contingencies, concentrations and factors that may affect future operations: | |||||||||
Commitments - | |||||||||
Commitments outstanding at March 31, 2014 for the purchase of property, plant and equipment and other assets approximated ¥2,425 million. | |||||||||
Contingencies - | |||||||||
NIDEC has guaranteed approximately ¥60 million of bank loans for employees in connection with their housing costs at March 31, 2014. If an employee defaults on his/her loan payments, NIDEC would be liable under the guarantee. The maximum undiscounted amount of NIDEC’s obligation to make future payments in the event of defaults is approximately ¥60 million. The current carrying amount of the liabilities for NIDEC’s obligations under the guarantee is zero because it is not possible to estimate the amount of loss from employee’s defaults or range of the possible loss at this time. | |||||||||
NIDEC is contingently liable under bid bonds, advance payment bonds, performance bonds, warranty bonds and payment bonds, totaling ¥6,967 million as of March 31, 2014, primarily for guarantees of our performance on projects currently in execution or under warranty. No material claims have been made against guarantees, and based on our past experience and current expectations, NIDEC does not anticipate any material claims. | |||||||||
Concentration of risk - | |||||||||
NIDEC is dependent on a number of large customers for a substantial portion of NIDEC’s net sales. Sales to NIDEC’s two largest customers represented approximately 22%, 20% and 17% of consolidated net sales for the years ended March 31, 2012, 2013 and 2014, respectively. Sales to NIDEC’s largest customer were approximately 12%, 11% and 9% of consolidated net sales for the years ended March 31, 2012, 2013 and 2014, respectively. Accounts receivable are financial instruments that expose NIDEC to a concentration of credit risk. At March 31, 2013, the two largest customers with outstanding accounts receivable balances totaled ¥19,534 million, or 13% of the gross accounts receivable, compared to ¥17,706 million, or 10% of the gross accounts receivable, at March 31, 2014. If any one or group of these customer’s receivable balances should be deemed uncollectable, it would have a materially adverse effect on NIDEC’s results of operations and financial condition. | |||||||||
Product warranty – | |||||||||
NIDEC guarantees the performance of products delivered and services rendered for a certain period or term. Estimates for warranty cost are made based on historical warranty claim experience. The changes in product warranty liability for the years ended March 31, 2013 and 2014 are summarized as follows: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Balance at beginning of year | ¥ | 971 | ¥ | 2,201 | |||||
Addition | 1,626 | 2,021 | |||||||
Utilization | (664 | ) | (1,080 | ) | |||||
Foreign exchange impact | 268 | (106 | ) | ||||||
Balance at end of year | ¥ | 2,201 | ¥ | 3,036 | |||||
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||
24. Discontinued Operations | |||||||||||||||||
As of March 31, 2012, NIDEC discontinued the lens actuator (“LAC”) business, the tape drive and disk drive mechanism (“PGN”) business included within the “NSNK” reportable segment, and the compact digital camera lens unit (“CLU”) business included within the “NCPL” reportable segment, in order to improve profitability by prioritizing NIDEC’s investment of management resources to the development and production of new products and areas with more potential for growth than the LAC, PGN and CLU businesses. Total exit costs of the LAC, PGN and CLU businesses were ¥5,800 million (net of tax ¥4,412 million), which includes an impairment loss of ¥2,045 million of goodwill, loss on disposal of inventories and fixed assets, and other closing costs. | |||||||||||||||||
The operating results of the LAC, PGN and CLU businesses and exit costs with related taxes were recorded as “net loss on discontinued operations” in the consolidated statement of income in accordance with ASC 205-20 “Presentation of Financial Statements-Discontinued Operations”. All prior period information has been reclassified to be consistent with the current period presentation. | |||||||||||||||||
Operating results of discontinued operations for the year ended March 31, 2012 were as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31, 2012 | |||||||||||||||||
LAC | PGN | CLU | Total | ||||||||||||||
business | business | business | |||||||||||||||
Net sales | ¥ | 1,576 | ¥ | 1,365 | ¥ | 2,674 | ¥ | 5,615 | |||||||||
Loss on discontinued operations before income taxes | ¥ | (2,203 | ) | ¥ | (1,817 | ) | ¥ | (3,776 | ) | ¥ | (7,796 | ) | |||||
Income taxes | (269 | ) | 129 | 168 | 28 | ||||||||||||
Loss on discontinued operations | ¥ | (2,472 | ) | ¥ | (1,688 | ) | ¥ | (3,608 | ) | ¥ | (7,768 | ) | |||||
Segment_information
Segment information | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Segment information | ' | ||||||||||||
25. Segment information: | |||||||||||||
(1) Enterprise-wide information: | |||||||||||||
Product information – | |||||||||||||
The following table provides product information for the years ended March 31, 2012, 2013 and 2014: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales: | |||||||||||||
Small precision motors: | |||||||||||||
Hard disk drives spindle motors | ¥ | 176,932 | ¥ | 165,427 | ¥ | 185,506 | |||||||
Other small precision motors | 154,505 | 154,297 | 177,007 | ||||||||||
Sub-total | 331,437 | 319,724 | 362,513 | ||||||||||
Automotive, appliance, commercial and industrial products | 208,529 | 248,464 | 345,236 | ||||||||||
Machinery | 64,904 | 63,526 | 86,955 | ||||||||||
Electronic and optical components | 69,377 | 69,188 | 72,845 | ||||||||||
Others | 8,073 | 8,368 | 7,560 | ||||||||||
Consolidated total | ¥ | 682,320 | ¥ | 709,270 | ¥ | 875,109 | |||||||
The “Hard disk drives spindle motors” group of products consists of hard disk drives spindle motors for 3.5-inch, 2.5-inch, and 1.8-inch hard disk drives. | |||||||||||||
The “Other small precision motors” group of products consists of brushless motors for many types of products, including optical disk drive motors, OA equipment motors, brushless fans, which are used in many types of products, including computers and game machines for the purpose of lowering the temperature of central processing units in these products, automotive fans, vibration motors for mobile phones, brush DC motors for many types of products, stepping motors, and motor application products. | |||||||||||||
The “Automotive, appliance, commercial and industrial products” group of products consists of home appliances, commercial and industrial motors and related products, automotive motors, and automotive components. | |||||||||||||
The “Machinery” group of products consists of test systems, measuring equipment, power transmission equipment, factory automation systems, card readers, industrial robots and press machines. | |||||||||||||
The “Electronic and optical components” group of products consists of camera shutters, camera lens units, switches, trimmer potentiometers, processing and precision plastic mold products. | |||||||||||||
“Others” consists of other services and other components. | |||||||||||||
Geographic information – | |||||||||||||
Revenues from external customers, which are attributed to countries based on the location of the Company or the subsidiaries that transacted with the external customer for the years ended March 31, 2012, 2013 and 2014, and long-lived assets as of March 31, 2013 and 2014 are as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales: | |||||||||||||
Japan | ¥ | 260,470 | ¥ | 213,169 | ¥ | 238,278 | |||||||
U.S.A. | 71,317 | 99,260 | 132,117 | ||||||||||
Singapore | 40,595 | 55,712 | 63,950 | ||||||||||
Thailand | 75,908 | 81,678 | 85,435 | ||||||||||
The Philippines | 19,683 | 18,543 | 24,506 | ||||||||||
China | 148,553 | 150,631 | 197,134 | ||||||||||
Other | 65,794 | 90,277 | 133,689 | ||||||||||
Consolidated total | ¥ | 682,320 | ¥ | 709,270 | ¥ | 875,109 | |||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Long-lived assets: | |||||||||||||
Japan | ¥ | 86,612 | ¥ | 96,239 | |||||||||
U.S.A. | 21,047 | 23,046 | |||||||||||
Singapore | 1,899 | 1,337 | |||||||||||
Thailand | 42,418 | 37,925 | |||||||||||
The Philippines | 11,838 | 12,904 | |||||||||||
China | 56,756 | 65,007 | |||||||||||
Other | 57,407 | 62,423 | |||||||||||
Consolidated total | ¥ | 277,977 | ¥ | 298,881 | |||||||||
(2) Operating segment information: | |||||||||||||
The operating segments reported below are defined as components of an enterprise for which separate financial information is available and regularly reviewed by NIDEC’s chief operating decision maker. NIDEC’s chief operating decision maker utilizes various measurements to assess segment performance and allocate resources to segments. | |||||||||||||
The Nidec Corporation segment comprises Nidec Corporation in Japan, which primarily develops and sells hard disk drives spindle motors, DC motors, fans, and automotive products. | |||||||||||||
The Nidec Electronics (Thailand) segment comprises Nidec Electronics (Thailand) Co., Ltd., a subsidiary in Thailand, and its consolidated subsidiaries, which primarily produce and sell hard disk drive motors. This segment also includes other subsidiaries in Asia which produce components for hard disk drives. | |||||||||||||
The Nidec (Zhejiang) segment comprises Nidec (Zhejiang) Corporation, a subsidiary in China, which primarily produces and sells hard disk drive motors. | |||||||||||||
The Nidec (Dalian) segment comprises Nidec (Dalian) Limited, a subsidiary in China, which primarily produces and sells DC motors and fans but excludes its automotive products business. | |||||||||||||
The Nidec Singapore segment comprises Nidec Singapore Pte. Ltd., a subsidiary in Singapore, and its consolidated subsidiary, which primarily sell hard disk drive motors, DC motors and fans. | |||||||||||||
The Nidec (H.K.) segment comprises Nidec (H.K.) Co., Ltd., a subsidiary in Hong Kong, and its consolidated subsidiaries, which primarily sell hard disk drive motors, DC motors and fans. | |||||||||||||
The Nidec Philippines segment comprises Nidec Philippines Corporation, a subsidiary in the Philippines, and its consolidated subsidiary, which primarily produce and sell hard disk drive motors. | |||||||||||||
The Nidec Sankyo segment comprises Nidec Sankyo Corporation, a subsidiary in Japan, and its consolidated subsidiaries, which primarily produce and sell DC motors, machinery, and electronic parts. | |||||||||||||
The Nidec Copal segment comprises Nidec Copal Corporation, a subsidiary in Japan, and its consolidated subsidiaries, which primarily produce and sell optical and electronic parts and machinery. | |||||||||||||
The Nidec Tosok segment comprises Nidec Tosok Corporation, a subsidiary in Japan, and its consolidated subsidiaries, which primarily produce and sell automotive parts. | |||||||||||||
The Nidec Copal Electronics segment comprises Nidec Copal Electronics Corporation, a subsidiary in Japan, and its consolidated subsidiaries, which primarily produce and sell electronic parts. | |||||||||||||
The Nidec Techno Motor segment comprises Nidec Techno Motor Corporation, a subsidiary in Japan, and its consolidated subsidiaries, which primarily produce and sell commercial and industrial products. | |||||||||||||
The Nidec Motor segment comprises Nidec Motor Corporation and other subsidiaries in North America, which are subsidiaries of Nidec US Holdings Corporation, an intermediate holding company in the United States, as well as other subsidiaries in Latin America, Asia and Europe, which primarily produce and sell home appliance, commercial and industrial products. This segment also includes Nidec ASI, Avtron and Kinetek, which were newly consolidated for the year ended March 31, 2013. | |||||||||||||
The Nidec Motors & Actuators segment comprises Nidec Motors & Actuators(Germany) GmbH in Germany, other subsidiaries in Europe and North America, and other manufacturing subsidiaries in China, which primarily produce and sell automotive products. | |||||||||||||
The All Others segment comprises subsidiaries that are operating segments but not designated as reportable segments due to their immateriality. | |||||||||||||
NIDEC evaluates performance based on segmental profit and loss, which consists of sales and operating revenues less operating expenses. All segmental operating income or loss is accounted for under Japanese GAAP, except for Nidec Electronics (Thailand), Nidec (Zhejiang), Nidec (Dalian), Nidec Singapore, Nidec (H.K.), Nidec Philippines, Nidec Motor and Nidec Motors & Actuators. Therefore segmental data has not been prepared under U.S. GAAP on a basis that is consistent with the consolidated financial statements or on any other single basis that is consistent between segments. There are several differences between U.S. GAAP and the underlying accounting bases used by management, the principal differences that affect segmental operating income or loss are accounting for pension and severance costs, and leases. Our segmental operating income or loss is presented in accordance with financial reporting principles and practices generally accepted in Japan. Management believes that the monthly segmental information is available on a timely basis, and that it is sufficiently accurate at the segment income or loss level for management’s purposes. | |||||||||||||
The following tables show net sales to external customers and other financial information by operating segment for the years ended March 31, 2012, 2013 and 2014: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales to external customers: | |||||||||||||
Nidec Corporation | ¥ | 46,901 | ¥ | 23,748 | ¥ | 27,599 | |||||||
Nidec Electronics (Thailand) | 64,226 | 63,349 | 67,623 | ||||||||||
Nidec (Zhejiang) | 26,430 | 21,109 | 18,017 | ||||||||||
Nidec (Dalian) | 4,269 | 3,648 | 1,940 | ||||||||||
Nidec Singapore | 34,220 | 50,039 | 57,893 | ||||||||||
Nidec (H.K.) | 50,748 | 52,028 | 69,890 | ||||||||||
Nidec Philippines | 15,326 | 14,707 | 19,573 | ||||||||||
Nidec Sankyo | 78,589 | 73,201 | 98,564 | ||||||||||
Nidec Copal | 51,124 | 49,627 | 47,023 | ||||||||||
Nidec Tosok | 33,358 | 31,090 | 36,854 | ||||||||||
Nidec Copal Electronics | 29,098 | 26,845 | 31,295 | ||||||||||
Nidec Techno Motor | 40,058 | 39,940 | 50,691 | ||||||||||
Nidec Motor | 83,999 | 119,093 | 175,854 | ||||||||||
Nidec Motors & Actuators | 44,748 | 44,707 | 64,420 | ||||||||||
All Others | 78,268 | 96,236 | 106,996 | ||||||||||
Total | 681,362 | 709,367 | 874,232 | ||||||||||
Adjustments *1 | 958 | (97 | ) | 877 | |||||||||
Consolidated total | ¥ | 682,320 | ¥ | 709,270 | ¥ | 875,109 | |||||||
*1 | US GAAP adjustments primarily relate to the difference between recognition of revenue at the time of shipment and at the time of customer receipt. | ||||||||||||
NIDEC had sales to two customers of ¥151,253 million for the year ended March 31, 2012, and sales to one customer of ¥74,897 million for the year ended March 31, 2013 within the Nidec Corporation, Nidec Electronics (Thailand), Nidec (Zhejiang), Nidec Singapore, Nidec (H.K.) and “All Others” segments, that exceeded 10% of NIDEC’s net sales. There was no certain customer group which exceeded 10% of the consolidated net sales for the year ended March 31, 2014. | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales to other operating segments: | |||||||||||||
Nidec Corporation | ¥ | 100,064 | ¥ | 108,282 | ¥ | 138,354 | |||||||
Nidec Electronics (Thailand) | 36,649 | 35,492 | 43,982 | ||||||||||
Nidec (Zhejiang) | 3,617 | 2,977 | 5,011 | ||||||||||
Nidec (Dalian) | 15,471 | 11,117 | 10,559 | ||||||||||
Nidec Singapore | 448 | 709 | 749 | ||||||||||
Nidec (H.K.) | 1,162 | 1,734 | 1,339 | ||||||||||
Nidec Philippines | 24,390 | 25,682 | 29,266 | ||||||||||
Nidec Sankyo | 396 | 300 | 312 | ||||||||||
Nidec Copal | 2,318 | 2,093 | 2,318 | ||||||||||
Nidec Tosok | 150 | 190 | 171 | ||||||||||
Nidec Copal Electronics | 20 | 20 | 11 | ||||||||||
Nidec Techno Motor | 952 | 3,143 | 4,041 | ||||||||||
Nidec Motor | 30 | 154 | 80 | ||||||||||
Nidec Motors & Actuators | 11,607 | 15,170 | 20,213 | ||||||||||
All Others | 53,061 | 55,834 | 73,029 | ||||||||||
Total | 250,335 | 262,897 | 329,435 | ||||||||||
Intersegment elimination | (250,335 | ) | (262,897 | ) | (329,435 | ) | |||||||
Consolidated total | — | — | — | ||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Operating income or loss: | |||||||||||||
Nidec Corporation | ¥ | 7,497 | ¥ | (4,856 | ) | ¥ | 4,865 | ||||||
Nidec Electronics (Thailand) | 15,027 | 10,525 | 12,781 | ||||||||||
Nidec (Zhejiang) | 774 | (2,689 | ) | (243 | ) | ||||||||
Nidec (Dalian) | 431 | (409 | ) | 475 | |||||||||
Nidec Singapore | 781 | 1,115 | 709 | ||||||||||
Nidec (H.K.) | 359 | 146 | 483 | ||||||||||
Nidec Philippines | 7,799 | 4,883 | 6,037 | ||||||||||
Nidec Sankyo | 7,414 | 4,181 | 10,392 | ||||||||||
Nidec Copal | 6,384 | (3,192 | ) | (1,323 | ) | ||||||||
Nidec Tosok | 3,140 | 1,715 | 3,186 | ||||||||||
Nidec Copal Electronics | 4,194 | 3,277 | 5,288 | ||||||||||
Nidec Techno Motor | 4,591 | 4,168 | 6,671 | ||||||||||
Nidec Motor | 2,111 | 723 | 9,314 | ||||||||||
Nidec Motors & Actuators | 3,126 | 3,447 | 5,334 | ||||||||||
All Others | 11,201 | 10,540 | 18,911 | ||||||||||
Total | 74,829 | 33,574 | 82,880 | ||||||||||
Reclassification *1 | (3,072 | ) | (17,606 | ) | 2,055 | ||||||||
U.S. GAAP adjustments and Others *2 | (1,476 | ) | (537 | ) | (1,133 | ) | |||||||
Consolidation adjustments mainly related to elimination of intersegment income or loss | 2,789 | 2,167 | 1,266 | ||||||||||
¥ | 73,070 | ¥ | 17,598 | ¥ | 85,068 | ||||||||
*1 | Some items are reclassified from other expenses (income) and included in operating expenses (income). Main reclassification is income or loss from sales or disposals of fixed assets for the year ended March 31, 2012, 2013 and 2014. | ||||||||||||
*2 | Others is mainly from the amortization of identifiable intangible assets related to business combinations for the years ended March 31, 2012, 2013 and 2014. | ||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Depreciation: | |||||||||||||
Nidec Corporation | ¥ | 995 | ¥ | 917 | ¥ | 921 | |||||||
Nidec Electronics (Thailand) | 5,085 | 5,572 | 5,502 | ||||||||||
Nidec (Zhejiang) | 1,231 | 1,196 | 618 | ||||||||||
Nidec (Dalian) | 802 | 914 | 359 | ||||||||||
Nidec Singapore | 70 | 133 | 197 | ||||||||||
Nidec (H.K.) | 6 | 7 | 6 | ||||||||||
Nidec Philippines | 2,598 | 2,750 | 2,732 | ||||||||||
Nidec Sankyo | 3,715 | 3,773 | 4,102 | ||||||||||
Nidec Copal | 3,115 | 3,806 | 4,444 | ||||||||||
Nidec Tosok | 2,660 | 2,930 | 3,775 | ||||||||||
Nidec Copal Electronics | 1,150 | 1,318 | 1,283 | ||||||||||
Nidec Techno Motor | 1,491 | 1,890 | 2,573 | ||||||||||
Nidec Motor | 3,892 | 6,481 | 9,171 | ||||||||||
Nidec Motors & Actuators | 1,423 | 1,470 | 2,186 | ||||||||||
All Others | 4,297 | 5,265 | 6,537 | ||||||||||
Total | 32,530 | 38,422 | 44,406 | ||||||||||
U.S. GAAP adjustments *1 and Others *2 | (1,019 | ) | (3,487 | ) | (4,921 | ) | |||||||
Consolidated total | ¥ | 31,511 | ¥ | 34,935 | ¥ | 39,485 | |||||||
*1 | Some leased assets are not capitalized in the operating segments but are capitalized under U.S. GAAP. | ||||||||||||
*2 | The amount of each segment includes amortization of intangible assets. Others mainly represent adjustments to exclude the amortization of intangible assets in order to reconcile amounts to consolidated total of depreciation in consolidated statements of cash flows. | ||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Segment assets: | |||||||||||||
Nidec Corporation | ¥ | 565,451 | ¥ | 628,338 | |||||||||
Nidec Electronics (Thailand) | 91,784 | 116,476 | |||||||||||
Nidec (Zhejiang) | 13,897 | 12,112 | |||||||||||
Nidec (Dalian) | 24,159 | 20,763 | |||||||||||
Nidec Singapore | 21,590 | 27,689 | |||||||||||
Nidec (H.K.) | 15,678 | 22,458 | |||||||||||
Nidec Philippines | 37,084 | 49,569 | |||||||||||
Nidec Sankyo | 107,393 | 125,929 | |||||||||||
Nidec Copal | 62,376 | 55,166 | |||||||||||
Nidec Tosok | 43,566 | 50,221 | |||||||||||
Nidec Copal Electronics | 38,684 | 42,115 | |||||||||||
Nidec Techno Motor | 42,508 | 49,703 | |||||||||||
Nidec Motor | 178,429 | 197,315 | |||||||||||
Nidec Motors & Actuators | 46,601 | 68,405 | |||||||||||
All Others | 158,388 | 217,075 | |||||||||||
Total | 1,447,588 | 1,683,334 | |||||||||||
Elimination of intersegment assets, net of taxes | (579,766 | ) | (626,822 | ) | |||||||||
Identifiable intangible assets and other fair value adjustments | 12,502 | 11,626 | |||||||||||
Goodwill | 132,775 | 154,927 | |||||||||||
U.S.GAAP adjustments and Others *1 | (7,682 | ) | (57,147 | ) | |||||||||
Consolidated total | ¥ | 1,005,417 | ¥ | 1,165,918 | |||||||||
*1 | Others is mainly due to the reclassification of deferred tax assets and liabilities on consolidation. | ||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Capital expenditure for segment assets: | |||||||||||||
Nidec Corporation | ¥ | 1,991 | ¥ | 1,884 | |||||||||
Nidec Electronics (Thailand) | 14,588 | 1,232 | |||||||||||
Nidec (Zhejiang) | 710 | 712 | |||||||||||
Nidec (Dalian) | 2,372 | 972 | |||||||||||
Nidec Singapore | 417 | 9 | |||||||||||
Nidec (H.K.) | 5 | 6 | |||||||||||
Nidec Philippines | 1,876 | 3,368 | |||||||||||
Nidec Sankyo | 4,777 | 3,712 | |||||||||||
Nidec Copal | 9,539 | 2,427 | |||||||||||
Nidec Tosok | 5,814 | 9,432 | |||||||||||
Nidec Copal Electronics | 984 | 826 | |||||||||||
Nidec Techno Motor | 5,144 | 3,549 | |||||||||||
Nidec Motor | 3,594 | 4,134 | |||||||||||
Nidec Motors & Actuators | 1,845 | 3,019 | |||||||||||
All Others | 7,712 | 5,015 | |||||||||||
Consolidated total | ¥ | 61,368 | ¥ | 40,297 | |||||||||
NIDEC did not have significant non-cash items other than depreciation in reported profit. Intersegment sales were made at prices that approximate current market value. |
Subsequent_events
Subsequent events | 12 Months Ended | ||||
Mar. 31, 2014 | |||||
Subsequent events | ' | ||||
26. Subsequent events: | |||||
Dividends for the fiscal year ended March 31, 2014 | |||||
Subsequent to March 31, 2014, the Company’s Board of Directors declared a cash dividend of ¥7,585 million payable on June 3, 2014 to stockholders as of March 31, 2014. | |||||
A Share Exchange Agreement to Make Nidec Copal Electronics Corporation a Wholly Owned Subsidiary of Nidec Corporation | |||||
On April 22, 2014, NIDEC decided, at a meeting of the Board of Directors, to enter into a share exchange transaction (the “Share Exchange”) with Nidec Copal Electronics Corporation (“NCEL”) to make NCEL a wholly owned subsidiary, and entered into a share exchange agreement with NCEL on the same day. | |||||
1) | Reason for the share exchange | The Company and NCEL have determined that, in order for NCEL to further grow its business and improve its profitability, it is imperative that management decisions be made promptly and flexibly, resources be fully shared with the Company, investments by both the Company and NCEL produce better results, and an operational structure be established where NCEL is fully integrated with the Company to achieve better performance. | |||
2) | Share exchange procedure and effective date | The Share Exchange will become effective on October 1, 2014, per approval of NCEL’s shareholders at the ordinary general meeting held on June 20, 2014. The Company uses a simplified share exchange procedure in accordance with Article 796, Paragraph 3, of the Company Act, without obtaining the approval of its shareholders for the Share Exchange. | |||
3) | Ratio applied to the allocation of shares | For each share of NCEL common stock, 0.138 shares of the Company’s common stock will be allocated. | |||
In the event of a significant change to the factors and assumptions used for calculating the ratio, the above share exchange ratio may be modified upon the agreement of the Company and NCEL. | |||||
4) | Number of shares of the Company allocated in the share exchange | The Company expects to allocate 3,160,584 shares (tentative) of its common stock in the Share Exchange. The Company intends to use shares of its common stock held in treasury, and does not intend to issue any new shares, for the Share Exchange. | |||
A Share Exchange Agreement to Make Nidec-Read Corporation a Wholly Owned Subsidiary of Nidec Corporation | |||||
On April 22, 2014, NIDEC decided, at a meeting of the Board of Directors, to enter into a share exchange transaction (the “Share Exchange”) with Nidec-Read Corporation (“NRCJ”) to make NRCJ a wholly owned subsidiary, and entered into a share exchange agreement with NRCJ on the same day. | |||||
1) | Reason for the share exchange | The Company and NRCJ have determined that, in order for NRCJ to further grow its business and improve its profitability, it is imperative that management decisions be made promptly and flexibly, resources be fully shared with the Company, investments by both the Company and NRCJ produce better results, and an operational structure be established where NRCJ is fully integrated with the Company to achieve better performance. | |||
2) | Share exchange procedure and effective date | The Share Exchange will become effective on October 1, 2014, per approval of NRCJ’s shareholders at the ordinary general meeting held on June 17, 2014. The Company uses a simplified share exchange procedure in accordance with Article 796, Paragraph 3, of the Company Act, without obtaining the approval of its shareholders for the Share Exchange. | |||
3) | Ratio applied to the allocation of shares | For each share of NRCJ common stock, 0.243 shares of the Company’s common stock will be allocated. | |||
In the event of a significant change to the factors and assumptions used for calculating the ratio, the above share exchange ratio may be modified upon the agreement of the Company and NRCJ. | |||||
4) | Number of shares of the Company allocated in the share exchange | The Company expects to allocate 1,421,513 shares (tentative) of its common stock in the Share Exchange. The Company intends to use shares of its common stock held in treasury, and does not intend to issue any new shares, for the Share Exchange. | |||
Quarterly_Financial_Data_for_t
Quarterly Financial Data for the year ended March 31, 2014 | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Quarterly Financial Data for the year ended March 31, 2014 | ' | ||||||||||||||||||||
27. Quarterly Financial Data for the year ended March 31, 2014: (Unaudited) | |||||||||||||||||||||
Yen in millions | |||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net sales | ¥ | 211,276 | ¥ | 218,358 | ¥ | 217,091 | ¥ | 228,384 | ¥ | 875,109 | |||||||||||
Income before income taxes | 17,366 | 21,075 | 24,084 | 22,139 | 84,664 | ||||||||||||||||
Net income attributable to Nidec Corporation | ¥ | 13,346 | ¥ | 13,757 | ¥ | 15,950 | ¥ | 13,351 | ¥ | 56,404 | |||||||||||
Yen | |||||||||||||||||||||
Net income attributable to Nidec Corporation per share: | |||||||||||||||||||||
Basic *1 | 49.73 | 51.26 | 57.84 | 48.41 | 207.31 | ||||||||||||||||
Diluted *1 | 46.42 | 47.85 | 54.24 | 45.39 | 193.96 | ||||||||||||||||
Notes: | |||||||||||||||||||||
*1: | Earnings-per-share amounts for each quarter are computed independently. As a result, their sum may not equal the total year earnings-per-share amounts. |
Summary_of_significant_account1
Summary of significant accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2014 | |
Estimates | ' |
Estimates - | |
The preparation of NIDEC’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates include the valuation of inventories, allowance for doubtful accounts, depreciation and amortization of long-lived assets, valuation allowance for deferred tax assets, valuation of investment securities, fair value of financial instruments, uncertain tax positions, pension liabilities, the recoverability of long-lived assets and goodwill, and fair value of assets acquired and liabilities assumed. Actual results could differ from those estimates. | |
Basis of consolidation and accounting for investments in affiliated companies | ' |
Basis of consolidation and accounting for investments in affiliated companies - | |
The consolidated financial statements include the accounts of the Company and those of its majority-owned subsidiary companies. All significant intercompany transactions and accounts have been eliminated. Companies over which NIDEC exercises significant influence, but which it does not control, are classified as affiliated companies and accounted for using the equity method. Consolidated net income includes NIDEC’s equity in current earnings (losses) of such companies, after elimination of unrealized intercompany profits. | |
On occasion, NIDEC may acquire additional shares of the voting rights of a consolidated subsidiary or dispose of a part of those shares or a Nidec consolidated subsidiary may issue its shares to third parties. With respect to such transactions, all transactions for changes in a parent’s ownership interest in a subsidiary that do not result in the subsidiary ceasing to be a subsidiary are recognized as equity transactions. | |
Translation of foreign currencies | ' |
Translation of foreign currencies - | |
Non monetary asset and liability accounts of foreign subsidiaries and affiliates are translated into Japanese yen at the year-end exchange rates and all income and expense accounts are translated at exchange rates that approximate those prevailing at the time of the transactions. The resulting translation adjustments are included as a component of accumulated other comprehensive income in shareholders’ equity. | |
Monetary assets and liabilities denominated in foreign currencies are translated at the year-end exchange rates and the resulting transaction gains or losses are taken into income. | |
Cash and cash equivalents | ' |
Cash and cash equivalents - | |
Cash and cash equivalents include all highly liquid investments, with original maturities of three months or less that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. | |
Inventories | ' |
Inventories - | |
Inventories are stated at the lower of cost or market. Cost is determined principally on the weighted average cost basis. Cost includes the cost of materials, labor and applied factory overhead. Projects in progress, which mainly relate to production of factory automation equipment based on contracts with customers, are stated at the lower of cost or market, cost being determined as the accumulated production cost. | |
Marketable securities | ' |
Marketable securities - | |
Marketable securities consist of equity securities that are listed on recognized stock exchanges and debt securities. Equity securities designated as available-for-sale are carried at fair value with changes in unrealized gains or losses included as a component of accumulated other comprehensive income in shareholders’ equity, net of applicable taxes. Realized gains and losses are determined on the average cost method and are reflected in the statement of income. Other than temporary declines in market value of individual securities classified as available-for-sale are charged to income in the period the loss occurs. Debt securities designated as held-to-maturity securities are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts. | |
Derivative financial instruments | ' |
Derivative financial instruments - | |
NIDEC manages the exposures of fluctuations in foreign exchange rate, interest rate and commodity prices through the use of derivative financial instruments which include foreign exchange forward contracts, currency option contracts, interest rate swap agreements and commodity future contracts. NIDEC does not hold derivative financial instruments for trading purposes. | |
Derivatives are accounted for under ASC 815, “Derivatives and Hedging.” All derivatives are recorded as either assets or liabilities on the balance sheet and measured at fair value. Changes in the fair value of derivatives are charged in current earnings. However certain derivatives may qualify for hedge accounting as a cash flow hedge, if the hedging relationship is expected to be highly effective in achieving offsetting of cash flows of the hedging instruments and hedged items. Under hedge accounting, changes in the fair value of the effective portion of these derivatives designated as cash flow hedge derivatives are deferred in accumulated other comprehensive income and charged to earnings when the underlying transaction being hedged occurs. | |
NIDEC designates certain foreign exchange forward contracts, interest rate swap agreements and commodity future contracts as cash flow hedges. NIDEC formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the balance sheet or forecasted transactions. NIDEC also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting cash flows of hedged items. When it is determined that a derivative is not a highly effective hedge or that it has ceased to be a highly effective hedge, NIDEC discontinues hedge accounting prospectively. When a cash flow hedge is discontinued, the previously recognized net derivative gains or losses remain in accumulated other comprehensive income until the hedged transaction occurs, unless it is probable that the forecasted transaction will not occur at which point the derivative gains or losses are reclassified into earnings immediately. | |
Property, plant and equipment | ' |
Property, plant and equipment - | |
Property, plant and equipment are stated at cost. Major renewals and improvements are capitalized; minor replacements, maintenance and repairs are charged to expense in the year incurred. | |
Depreciation of property, plant and equipment is computed on the straight-line method at rates based on the estimated useful lives of the assets. Estimated useful lives range from 7 to 47 years for factories to produce NIDEC’s products, 50 years for the head office and sales offices, from 3 to 18 years for leasehold improvements, and from 2 to 15 years for machinery and equipment. | |
Depreciation expense amounted to ¥31,511 million, ¥34,935 million, and ¥39,485 million for the years ended March 31, 2012, 2013 and 2014, respectively. | |
Lease | ' |
Lease- | |
NIDEC capitalizes leases and related obligations when any of the four criteria are met within the guidance of ASC 840 “Leases”. Under ASC840, these leases and related obligations are capitalized at the commencement of the lease at the lower of the fair value of the leased property and the present value of the minimum lease payments. | |
Goodwill and other intangible assets | ' |
Goodwill and other intangible assets - | |
Goodwill and other intangible assets are accounted for under ASC350, “Intangibles—Goodwill and Other”. | |
Goodwill acquired in business combinations is not amortized but tested annually for impairment. NIDEC tests for impairment at the reporting unit level on January 1st of each year. In addition, NIDEC tests for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. This test is a two-step process. The first step of the goodwill impairment test, used to identify potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value, which is based on discounted future cash flows, exceeds the carrying amount, goodwill is not considered impaired. If the carrying amount exceeds the fair value, the second step must be performed to measure the amount of the impairment loss, if any. The second step compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. | |
Other intangible assets include proprietary technology and customer relationships, as well as software and other intangible assets acquired in business combinations. Intangible assets with an indefinite life are not subject to amortization and are tested for impairment once on January 1st of each year or more frequently if an event occurs or circumstances change. Intangible assets with a definite life are amortized on a straight-line basis over their estimated useful lives. The weighted average amortization period for proprietary technology, customer relationships and software are 12 years, 18 years and 5 years, respectively. | |
Long-lived assets | ' |
Long-lived assets - | |
NIDEC reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset group exceeds the estimated undiscounted future cash flows expected to result from the use of the asset group and its eventual disposition. The amount of the impairment loss to be recorded is calculated as the excess of the assets group’s carrying value over its fair value. Long-lived assets that are to be disposed of other than by sale are considered to be held and used until the disposal. Long-lived assets that are to be disposed of by sale are reported at the lower of their carrying value or fair value less costs to sell. Reductions in carrying value are recognized in the period in which long-lived assets are classified as held for sale. | |
Revenue recognition | ' |
Revenue recognition - | |
NIDEC recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectibility is reasonably assured. For small precision motors, automotive, appliance, commercial and industrial products and electronic and optical components, these criteria are generally met at the time a product is delivered to the customers’ site which is the time the customer has taken title to the product and the risk and rewards of ownership have been substantively transferred. These conditions are met at the time of delivery to customers in domestic sales (FOB destination) and at the time of shipment for export sales (FOB shipping point). Revenue for machinery sales is recognized upon receipt of final customer acceptance. At the time the related revenue is recognized, NIDEC makes provisions for estimated product returns. Revenue from a part of sales of automotive, appliance, commercial and industrial products under long-term construction type arrangements are recognized under the percentage-of-completion method. Under the percentage-of-completion method, revenue is recognized as a percentage of estimated total revenue that incurred costs to date bear to estimated total costs after giving effect to estimates of costs to complete based upon the most recent information. | |
Research and development expenses | ' |
Research and development expenses - | |
Research and development expenses, mainly consisting of personnel and depreciation expenses at research and development branches, are charged to operations as incurred. | |
Advertising costs | ' |
Advertising costs - | |
Advertising and sales promotion costs are expensed as incurred. Advertising costs were ¥228 million, ¥296 million, and ¥477 million for the years ended March 31, 2012, 2013 and 2014, respectively. | |
Income taxes | ' |
Income taxes - | |
The provision for income taxes is computed based on the pretax income included in the consolidated statement of income. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. | |
NIDEC recognizes the financial statement effects of tax positions when it is more likely than not, based on the technical merits, that the tax positions will be sustained upon examination by the tax authorities. Benefits from tax positions that meet the more-likely-than-not recognition threshold are measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement. Interest and penalties accrued related to unrecognized tax benefits are included in other, net in the consolidated statements of income. | |
Earnings per share | ' |
Earnings per share - | |
Basic net income per common share is calculated by dividing net income by the weighted-average number of shares outstanding during the reported period. The calculation of diluted net income per common share is similar to the calculation of basic net income per share, except that the weighted-average number of shares outstanding includes the additional dilution from potential common stock equivalents such as convertible bonds and options. | |
Reclassification | ' |
Reclassification | |
Certain reclassifications of previously reported amounts have been made to the consolidated statements of income and cash flows for the years ended March 31, 2012 and 2013 to conform to the current year presentation. | |
As of March 31, 2012, NIDEC discontinued its lens actuator business and its tape drive and disk drive mechanism business included within the Nidec Sankyo reportable segment, and its compact digital camera lens unit business included within the Nidec Copal reportable segment. The operating results of the discontinued businesses and exit costs with related taxes were recorded as “Loss on discontinued operations” in the consolidated statement of income in accordance with ASC 205-20, “Presentation of Financial Statements-Discontinued Operations”. | |
Accounting Changes | ' |
Accounting Changes | |
As of April 1, 2013, NIDEC adopted FASB Accounting Standards Codification™ (ASC) 350 “Intangibles-Goodwill and Other” updated by Accounting Standards Update (ASU) No. 2012-02 “Testing Indefinite-Lived Intangible Assets for Impairment.” ASU 2012-02 allows an entity the option of performing a qualitative assessment before calculating the fair value of an indefinite-lived intangible asset and performing the quantitative impairment test. If an entity determines, on the basis of qualitative factors, that it is more likely than not that the asset is impaired, the quantitative impairment test would be required. The adoption of this standard did not have material impact on NIDEC’s consolidated financial position, results of operations and liquidity. | |
As of April 1, 2013, NIDEC adopted FASB ASC 220 “Comprehensive income.” updated by ASU No. 2013-02 “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The standard is provision for disclosure. The adoption of this standard did not have any impact on NIDEC’s consolidated financial position, results of operations and liquidity. | |
Recent Accounting Pronouncements to be adopted in future periods | ' |
Recent Accounting Pronouncements to be adopted in future periods | |
In July 2013, the FASB issued ASU No. 2013-11, “Income taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carry forward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 is effective for reporting periods beginning after December 15, 2013. Early adoption and retrospective application are permitted. This standard is provision for disclosure. The adoption of this standard will not have any impact on NIDEC’s consolidated financial position, results of operations or liquidity. | |
In April 2014, the FASB issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” Under the new standard, a disposal of a component or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the component meets the criteria to be classified as held for sale or is disposed. The amendments in this update also require additional disclosures about discontinued operations and disposal of an individually significant component of an entity that does not qualify for discontinued operations. ASU 2014-08 is effective for annual and interim periods beginning after December 15, 2014. Early adoption is permitted. The impact of the adoption of ASU 2014-08 on NIDEC’s consolidated financial position, results of operations and liquidity will depend on, and may be significant depending on, the size and nature of its future disposal. | |
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” Under the new standard, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should recognize revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer, and the transaction price should be allocated to performance obligation in the contract. The new standard also requires an entity to disclose sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2016. Early application is not permitted. NIDEC is currently evaluating the potential impact from adopting ASU 2014-09 on its consolidated financial position, results of operations and liquidity. |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date | ' | ||||||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. | |||||||||
Yen in millions | |||||||||
January 1, | March 31, | ||||||||
2014 | 2014 | ||||||||
CMI | Elesys | ||||||||
Cash and cash equivalents | ¥ | 1,081 | ¥ | 5,759 | |||||
Accounts receivable | 1,323 | 5,176 | |||||||
Inventories | 2,155 | 4,600 | |||||||
Other current assets | 683 | 1,483 | |||||||
Property, plant and equipment | 4,538 | 6,803 | |||||||
Goodwill | 2,114 | 9,668 | |||||||
Intangible assets | 55 | 58 | |||||||
Other non-current assets | 790 | 657 | |||||||
Total assets acquired | 12,739 | 34,204 | |||||||
Accounts payable | (1,420 | ) | (6,618 | ) | |||||
Other current liabilities | (2,834 | ) | (2,417 | ) | |||||
Other non-current liabilities | (3,256 | ) | (849 | ) | |||||
Total liabilities assumed | (7,510 | ) | (9,884 | ) | |||||
Noncontrolling interests | (1 | ) | — | ||||||
Net assets acquired | ¥ | 5,228 | ¥ | 24,320 | |||||
Unaudited Pro Forma Results of Operations | ' | ||||||||
The following represents the unaudited pro forma results of operations of NIDEC for the years ended March 31, 2013 and 2014, as if the acquisition in these companies had occurred on April 1, 2012. The unaudited pro forma results of operations are presented for comparative purposes only and are not necessarily indicative of the results of operations that may occur in the future or that would have occurred had the acquisitions been in effect on the dates indicated. | |||||||||
Yen in millions | |||||||||
For the year ended March 31 | |||||||||
(Unaudited) | |||||||||
2013 | 2014 | ||||||||
Pro forma net sales | ¥ | 787,716 | ¥ | 928,910 | |||||
Pro forma net income | 9,378 | 57,788 | |||||||
Yen | |||||||||
Pro forma net income attributable to Nidec Corporation per share | |||||||||
—basic | ¥ | 34,81 | ¥ | 212.4 | |||||
—diluted | 32.32 | 198.72 |
Goodwill_and_other_intangible_1
Goodwill and other intangible assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Goodwill Allocated to Operating Segment | ' | ||||||||||||||||||||||||
The changes in the carrying amount of goodwill by operating reportable segment for the years ended March 31, 2012 and 2013 are as follows: | |||||||||||||||||||||||||
Yen in millions | |||||||||||||||||||||||||
Balance as of | Acquisition | Impairment | Translation | Balance as of | |||||||||||||||||||||
April 1, | loss | adjustments | March 31, | ||||||||||||||||||||||
2012 | and Others | 2013 | |||||||||||||||||||||||
Goodwill: | |||||||||||||||||||||||||
Nidec Electronics (Thailand) | ¥ | 6,109 | ¥ | — | ¥ | — | ¥ | 885 | ¥ | 6,994 | |||||||||||||||
Nidec (Zhejiang) | 912 | — | — | 132 | 1,044 | ||||||||||||||||||||
Nidec Sankyo | 26,100 | 1,094 | — | 118 | 27,312 | ||||||||||||||||||||
Nidec Copal | 16,462 | — | — | — | 16,462 | ||||||||||||||||||||
Nidec Tosok | 1,107 | — | — | (69 | ) | 1,038 | |||||||||||||||||||
Nidec Copal Electronics | 6,561 | — | — | — | 6,561 | ||||||||||||||||||||
Nidec Techno Motor | 2,049 | — | — | — | 2,049 | ||||||||||||||||||||
Nidec Motor | 11,984 | 34,021 | — | 9,003 | 55,008 | ||||||||||||||||||||
Nidec Motors & Actuators | 4,737 | 1,062 | — | 586 | 6,385 | ||||||||||||||||||||
All Others | 4,504 | 4,785 | — | 633 | 9,922 | ||||||||||||||||||||
¥ | 80,525 | ¥ | 40,962 | ¥ | — | ¥ | 11,288 | ¥ | 132,775 | ||||||||||||||||
The changes in the carrying amount of goodwill by operating reportable segment for the years ended March 31, 2013 and 2014 are as follows: | |||||||||||||||||||||||||
Yen in millions | |||||||||||||||||||||||||
Balance as of | Acquisition | Impairment | Translation | Balance as of | |||||||||||||||||||||
April 1, | loss | adjustments | March 31, | ||||||||||||||||||||||
2013 | and Others | 2014 | |||||||||||||||||||||||
Goodwill: | |||||||||||||||||||||||||
Nidec Electronics (Thailand) | ¥ | 6,994 | ¥ | — | ¥ | — | ¥ | 651 | ¥ | 7,645 | |||||||||||||||
Nidec (Zhejiang) | 1,044 | — | — | 98 | 1,142 | ||||||||||||||||||||
Nidec Sankyo | 27,312 | 2,114 | — | 107 | 29,533 | ||||||||||||||||||||
Nidec Copal | 16,462 | — | — | — | 16,462 | ||||||||||||||||||||
Nidec Tosok | 1,038 | — | — | — | 1,038 | ||||||||||||||||||||
Nidec Copal Electronics | 6,561 | — | — | — | 6,561 | ||||||||||||||||||||
Nidec Techno Motor | 2,049 | — | — | — | 2,049 | ||||||||||||||||||||
Nidec Motor | 55,008 | — | — | 8,070 | 63,078 | ||||||||||||||||||||
Nidec Motors & Actuators | 6,385 | — | — | 933 | 7,318 | ||||||||||||||||||||
All Others | 9,922 | 9,668 | — | 511 | 20,101 | ||||||||||||||||||||
¥ | 132,775 | ¥ | 11,782 | ¥ | — | ¥ | 10,370 | ¥ | 154,927 | ||||||||||||||||
Schedule of Finite-Lived Intangible Assets by Major Class | ' | ||||||||||||||||||||||||
Intangible assets subject to amortization are summarized as follows: | |||||||||||||||||||||||||
Yen in millions | |||||||||||||||||||||||||
March 31 | |||||||||||||||||||||||||
2013 | 2014 | ||||||||||||||||||||||||
Gross | Accumulated | Carrying | Gross | Accumulated | Carrying | ||||||||||||||||||||
carrying | amortization | amounts | carrying | amortization | amounts | ||||||||||||||||||||
amounts | amounts | ||||||||||||||||||||||||
Proprietary technology | ¥ | 10,017 | ¥ | 1,469 | ¥ | 8,548 | ¥ | 11,671 | ¥ | 2,535 | ¥ | 9,136 | |||||||||||||
Customer relationships | 43,305 | 5,817 | 37,488 | 48,157 | 9,626 | 38,531 | |||||||||||||||||||
Software | 13,830 | 6,878 | 6,952 | 18,001 | 8,625 | 9,376 | |||||||||||||||||||
Other | 5,718 | 1,925 | 3,793 | 6,988 | 3,345 | 3,643 | |||||||||||||||||||
Total | ¥ | 72,870 | ¥ | 16,089 | ¥ | 56,781 | ¥ | 84,817 | ¥ | 24,131 | ¥ | 60,686 | |||||||||||||
Schedule of Expected Amortization Expense | ' | ||||||||||||||||||||||||
The estimated aggregate amortization expense for intangible assets for the next five years is as follows: | |||||||||||||||||||||||||
Years ending March 31, | Yen in millions | ||||||||||||||||||||||||
2015 | ¥ | 6,773 | |||||||||||||||||||||||
2016 | 6,445 | ||||||||||||||||||||||||
2017 | 5,767 | ||||||||||||||||||||||||
2018 | 5,123 | ||||||||||||||||||||||||
2019 | 4,656 | ||||||||||||||||||||||||
Series of Individually Immaterial Business Acquisitions | ' | ||||||||||||||||||||||||
Goodwill Allocated to Operating Segment | ' | ||||||||||||||||||||||||
Operating Segment | Yen in millions | ||||||||||||||||||||||||
Amount of Goodwill | Amount of Goodwill | ||||||||||||||||||||||||
deductible for tax | |||||||||||||||||||||||||
purposes | |||||||||||||||||||||||||
Nidec Sankyo | ¥ | 2,114 | ¥ | 334 | |||||||||||||||||||||
All Others | 9,668 | 393 | |||||||||||||||||||||||
Total | ¥ | 11,782 | ¥ | 727 | |||||||||||||||||||||
Supplemental_cash_flow_informa1
Supplemental cash flow information (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Schedule of Cash Flow, Supplemental Disclosures | ' | ||||||||||||
The supplemental information associated with the consolidated statements of cash flows for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Cash paid during the fiscal year for: | |||||||||||||
Income taxes | ¥ | 8,197 | ¥ | 25,879 | ¥ | 12,613 | |||||||
Interest | 327 | 395 | 1,636 | ||||||||||
Non-cash investing and financing activities: | |||||||||||||
Capital leasing receivables | 31 | — | — | ||||||||||
Capital lease obligations | 214 | 206 | 499 | ||||||||||
Change in ownership of subsidiaries in connection with share exchange transaction | |||||||||||||
—Change in common stock | — | 3,270 | 4,279 | ||||||||||
—Change in treasury stock | — | 16,710 | 20,655 | ||||||||||
Allowance_for_doubtful_account1
Allowance for doubtful accounts (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Allowance for Doubtful Accounts | ' | ||||||||||||
An analysis of activity within the allowance for doubtful accounts for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||
Yen in millions | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Allowance for doubtful accounts at beginning of the year | ¥ | 1,013 | ¥ | 1,002 | ¥ | 1,375 | |||||||
Provision for doubtful accounts, net of reversal | 30 | 166 | 366 | ||||||||||
Write-offs | (30 | ) | (90 | ) | (267 | ) | |||||||
Translation adjustment and other | (11 | ) | 297 | 119 | |||||||||
Allowance for doubtful accounts at the end of the year | ¥ | 1,002 | ¥ | 1,375 | ¥ | 1,593 | |||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Inventory, Current | ' | ||||||||
Inventories consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Finished goods | ¥ | 42,599 | ¥ | 51,293 | |||||
Raw materials | 30,839 | 39,993 | |||||||
Work in process | 23,526 | 28,926 | |||||||
Supplies and other | 2,862 | 3,669 | |||||||
¥ | 99,826 | ¥ | 123,881 | ||||||
Other_current_assets_Tables
Other current assets (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule Of Prepaid Expenses and Other Current Assets | ' | ||||||||
Other current assets as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Other receivable | ¥ | 13,740 | ¥ | 13,906 | |||||
Deferred tax assets (Note 16) | 12,787 | 10,434 | |||||||
Costs on uncompleted construction contracts | 5,799 | 9,572 | |||||||
Prepaid expenses | 4,079 | 5,225 | |||||||
Other | 11,954 | 8,926 | |||||||
¥ | 48,359 | ¥ | 48,063 | ||||||
Marketable_securities_and_othe1
Marketable securities and other securities investments (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Investments in Debt and Marketable Equity Securities and Certain Trading Assets Disclosure | ' | ||||||||||||||||
Marketable securities and other securities investments include debt and equity securities of which the aggregate fair value, gross unrealized gains and losses and cost are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31, 2013 | |||||||||||||||||
Cost | Gross | Gross | Fair | ||||||||||||||
unrealized | unrealized | value | |||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale | |||||||||||||||||
Equity securities | ¥ | 7,838 | ¥ | 5,814 | ¥ | 3 | ¥ | 13,649 | |||||||||
Debt securities | 405 | 11 | 5 | 411 | |||||||||||||
Held-to-maturity | |||||||||||||||||
Japanese government debt securities | 301 | 3 | — | 304 | |||||||||||||
¥ | 8,544 | ¥ | 5,828 | ¥ | 8 | ¥ | 14,364 | ||||||||||
Securities not practicable to estimate fair value | |||||||||||||||||
Equity securities | ¥ | 1,539 | |||||||||||||||
Yen in millions | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Cost | Gross | Gross | Fair | ||||||||||||||
unrealized | unrealized | value | |||||||||||||||
gains | losses | ||||||||||||||||
Available-for-sale | |||||||||||||||||
Equity securities | ¥ | 7,652 | ¥ | 6,731 | ¥ | 0 | ¥ | 14,383 | |||||||||
Debt securities | — | — | — | — | |||||||||||||
Held-to-maturity | |||||||||||||||||
Japanese government debt securities | 400 | 2 | — | 402 | |||||||||||||
¥ | 8,052 | ¥ | 6,733 | ¥ | 0 | ¥ | 14,785 | ||||||||||
Securities not practicable to estimate fair value | |||||||||||||||||
Equity securities | ¥ | 1,654 | |||||||||||||||
Unrealized Loss Position Investments | ' | ||||||||||||||||
The following tables present the gross unrealized losses on, and fair value of, NIDEC’s investment securities, aggregated by investment category and length of time that individual investment securities have been in a continuous unrealized loss position. | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31, 2013 | |||||||||||||||||
Less than 12 months | 12 months or more | ||||||||||||||||
Fair value | Unrealized | Fair value | Unrealized | ||||||||||||||
loss | loss | ||||||||||||||||
Equity securities | ¥ | 16 | ¥ | 1 | ¥ | 23 | ¥ | 2 | |||||||||
Debt securities | 182 | 5 | — | — | |||||||||||||
¥ | 198 | ¥ | 6 | ¥ | 23 | ¥ | 2 | ||||||||||
Yen in millions | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Less than 12 months | 12 months or more | ||||||||||||||||
Fair value | Unrealized | Fair value | Unrealized | ||||||||||||||
loss | loss | ||||||||||||||||
Equity securities | ¥ | 0 | ¥ | 0 | ¥ | 1 | ¥ | 0 | |||||||||
Debt securities | — | — | — | — | |||||||||||||
¥ | 0 | ¥ | 0 | ¥ | 1 | ¥ | 0 |
Other_noncurrent_assets_Tables
Other non-current assets (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Other Assets, Noncurrent | ' | ||||||||
Other non-current assets as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Intangible assets *1 | ¥ | 63,989 | ¥ | 68,606 | |||||
Deferred tax assets | 7,116 | 1,482 | |||||||
Other *2 | 5,810 | 7,599 | |||||||
¥ | 76,915 | ¥ | 77,687 | ||||||
Notes: | |||||||||
*1 | “Intangible assets” information is described in Note 4 “Goodwill and other intangible assets” | ||||||||
*2 | “Other” primarily consists of Long-term prepaid expenses. |
Shortterm_borrowings_and_longt1
Short-term borrowings and long-term debt (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Short-term Debt | ' | ||||||||
Short-term borrowings at March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Loans, principally from banks with average interest at March 31, 2013 and 2014 of 0.21% and 0.31% per annum, respectively | ¥ | 32,798 | ¥ | 22,600 | |||||
¥ | 32,798 | ¥ | 22,600 | ||||||
Schedule of Long-term Debt Instruments | ' | ||||||||
Long-term debt at March 31, 2013 and 2014 are comprised of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Unsecured loans, representing obligations principally to banks and an insurance company | |||||||||
Due 2013 to 2026 in 2013 with interest ranging from 0.00% to 6.40% per annum in 2013 | ¥ | 73,925 | — | ||||||
Due 2014 to 2026 in 2014 with interest ranging from 0.00% to 6.80% per annum in 2014 | — | ¥ | 77,804 | ||||||
Zero coupon convertible bonds due 2015 | 100,247 | 95,891 | |||||||
Convertible at ¥5,313 for one common share | |||||||||
Unsecured straight bonds due 2017 | 65,000 | 65,000 | |||||||
Interest at 0.39% per annum in 2013 and 2014 | |||||||||
Unsecured straight bonds due 2019 | 15,000 | 15,000 | |||||||
Interest at 0.60% per annum in 2013 and 2014 | |||||||||
Unsecured straight bonds due 2022 | 20,000 | 20,000 | |||||||
Interest at 0.96% per annum in 2013 and 2014 | |||||||||
Unsecured straight bonds due 2016 | — | 50,000 | |||||||
Interest at 0.21% per annum in 2014 | |||||||||
Unsecured straight bonds due 2014 | 100 | 100 | |||||||
Issued by subsidiaries in 2011 which was newly consolidated in 2013 | |||||||||
Interest at 0.72% per annum in 2013 and 2014 | |||||||||
Capital lease obligations | |||||||||
Due 2013 to 2019 in 2013, with interest from 0.00% to 8.27% per annum in 2013 | 5,627 | — | |||||||
Due 2014 to 2019 in 2014, with interest from 0.00% to 15.74% per annum in 2014 | — | 4,861 | |||||||
279,899 | 328,656 | ||||||||
Less—Bonds current portion due within one year | (100,247 | ) | (100 | ) | |||||
Less—Long-term debt current portion due within one year | (31,841 | ) | (27,478 | ) | |||||
Less—Capital lease obligation current portion due within one year | (1,540 | ) | (1,667 | ) | |||||
¥ | 146,271 | ¥ | 299,411 | ||||||
Schedule of Maturities of Long-term Debt | ' | ||||||||
The aggregate amounts of annual maturity of long-term debt during the next five years are as follows: | |||||||||
Yen in millions | |||||||||
Year ending | |||||||||
March 31 | |||||||||
2015 | ¥ | 29,245 | |||||||
2016 | 116,841 | ||||||||
2017 | 81,153 | ||||||||
2018 | 66,167 | ||||||||
2019 | 137 | ||||||||
2020 and thereafter | ¥ | 35,113 | |||||||
Yen Denominated zero coupon convertible bonds due 2015 | ' | ||||||||
Schedule of Long-term Debt Instruments | ' | ||||||||
Detail of Zero coupon convertible bonds, due 2015 is as follow; | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Principal amount | ¥ | 100,000 | ¥ | 95,750 | |||||
Unamortized premium | 247 | 141 | |||||||
Total | ¥ | 100,247 | ¥ | 95,891 | |||||
Other_current_liabilities_Tabl
Other current liabilities (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other Current Liabilities | ' | ||||||||
Other current liabilities as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Accounts payable for property, plant and equipment | ¥ | 10,354 | ¥ | 9,857 | |||||
Advances received | 6,437 | 7,152 | |||||||
Income taxes payable | 4,013 | 4,557 | |||||||
Other | 11,628 | 11,576 | |||||||
¥ | 32,432 | ¥ | 33,142 | ||||||
Pension_and_severance_plans_Ta
Pension and severance plans (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet | ' | ||||||||||||||||
Amounts included in the consolidated balance sheet are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Accrued pension and severance costs | ¥ | 6,272 | ¥ | 6,045 | |||||||||||||
Other non-current assets | (20 | ) | (74 | ) | |||||||||||||
Net amounts recognized | ¥ | 6,252 | ¥ | 5,971 | |||||||||||||
Schedule of Allocation of Plan Assets | ' | ||||||||||||||||
The fair values of NIDEC’s pension plan assets at March 31, 2013 and 2014, by asset category, are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2013 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Equity securities: | |||||||||||||||||
Japanese companies | ¥ | 302 | ¥ | 302 | ¥ | — | ¥ | — | |||||||||
Foreign companies | 302 | 302 | — | — | |||||||||||||
Debt securities: | |||||||||||||||||
Pooled funds *1 | 593 | — | 593 | — | |||||||||||||
Other assets: | |||||||||||||||||
Cash and cash equivalents | 1,103 | 1,103 | — | — | |||||||||||||
Life insurance company general accounts | 3,040 | — | 3,040 | — | |||||||||||||
Pooled funds *2 | 7,431 | — | 7,431 | — | |||||||||||||
Others | 2,070 | — | — | 2,070 | |||||||||||||
Total | ¥ | 14,841 | ¥ | 1,707 | ¥ | 11,064 | ¥ | 2,070 | |||||||||
*1 | These funds invest in approximately 86% Japanese bonds, 14% foreign bonds. | ||||||||||||||||
*2 | These funds primarily invest in listed equity securities consisting of approximately 12% Japanese companies and 60% foreign companies, and debt security consisting of approximately 9% Japanese bonds and 16% foreign bonds. | ||||||||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2014 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Equity securities: | |||||||||||||||||
Japanese companies | ¥ | 281 | ¥ | 281 | ¥ | — | ¥ | — | |||||||||
Foreign companies | 233 | 233 | — | — | |||||||||||||
Debt securities: | |||||||||||||||||
Pooled funds *1 | 757 | — | 757 | — | |||||||||||||
Other assets: | |||||||||||||||||
Cash and cash equivalents | 1,793 | 1,793 | — | — | |||||||||||||
Life insurance company general accounts | 4,833 | — | 4,833 | — | |||||||||||||
Pooled funds *2 | 11,183 | — | 11,183 | — | |||||||||||||
Others | 2,464 | — | 2,464 | — | |||||||||||||
Total | ¥ | 21,544 | ¥ | 2,307 | ¥ | 19,237 | ¥ | — | |||||||||
*1 | These funds invest in approximately 68% Japanese bonds, 32% foreign bonds. | ||||||||||||||||
*2 | These funds primarily invest in listed equity securities consisting of approximately 7% Japanese companies and 31% foreign companies, and debt security consisting of approximately 6% Japanese bonds and 37% foreign bonds. | ||||||||||||||||
Changes in Fair Value of Plan Assets Categorized as Level Three | ' | ||||||||||||||||
The table below sets forth a summary of changes in the fair value of plan assets categorized as Level 3 for the years ended March 31, 2013 and 2014. | |||||||||||||||||
Others | Yen in millions | ||||||||||||||||
March 31 | March 31 | ||||||||||||||||
2013 | 2014 | ||||||||||||||||
Balance at beginning of year | ¥ | — | ¥ | 2,070 | |||||||||||||
Acquisition *1 | 1,159 | — | |||||||||||||||
Purchases | 582 | — | |||||||||||||||
Actual return on plan assets and other | 329 | 394 | |||||||||||||||
Transfers out of level 3 *2 | — | (2,464 | ) | ||||||||||||||
Balance at end of year | ¥ | 2,070 | ¥ | — | |||||||||||||
*1 | As a result of the Acquisition of Minster, NIDEC acquired the plan assets categorized as Level 3. | ||||||||||||||||
*2 | All the level 3 assets were transferred into level 2 because we got the ability to redeem the level 3 assets at net asset value at the measurement date. | ||||||||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||
The future benefit payments for defined benefit plans are expected as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
Japanese | Foreign | ||||||||||||||||
plans | plans | ||||||||||||||||
2015 | ¥ | 811 | ¥ | 1,030 | |||||||||||||
2016 | 932 | 1,043 | |||||||||||||||
2017 | 886 | 942 | |||||||||||||||
2018 | 892 | 1,122 | |||||||||||||||
2019 | 1,153 | 1,121 | |||||||||||||||
Years 2020-2024 | ¥ | 5,667 | ¥ | 5,709 | |||||||||||||
Japanese plans | ' | ||||||||||||||||
Schedule of Net Funded Status | ' | ||||||||||||||||
Information regarding NIDEC’s employees’ defined benefit plans is as follows: | |||||||||||||||||
Japanese plans: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Change in benefit obligation: | |||||||||||||||||
Benefit obligation at beginning of year | ¥ | 14,255 | ¥ | 14,079 | |||||||||||||
Service cost | 910 | 927 | |||||||||||||||
Interest cost | 197 | 180 | |||||||||||||||
Actuarial loss | 163 | 196 | |||||||||||||||
Acquisition and other | 26 | 4,014 | |||||||||||||||
Plan amendment | — | (143 | ) | ||||||||||||||
Benefits paid | (1,472 | ) | (1,851 | ) | |||||||||||||
14,079 | 17,402 | ||||||||||||||||
Change in plan assets: | |||||||||||||||||
Fair value of plan assets at beginning of year | 7,096 | 7,827 | |||||||||||||||
Actual return on plan assets | 823 | 576 | |||||||||||||||
Employer contribution | 622 | 1,135 | |||||||||||||||
Acquisition and other | — | 2,856 | |||||||||||||||
Benefits paid | (714 | ) | (963 | ) | |||||||||||||
Fair value of plan assets at end of year | 7,827 | 11,431 | |||||||||||||||
Funded status | ¥ | (6,252 | ) | ¥ | (5,971 | ) | |||||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized | ' | ||||||||||||||||
Amounts included in accumulated other comprehensive income (loss) as pension liability adjustments are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Actuarial loss | ¥ | (1,741 | ) | ¥ | (1,562 | ) | |||||||||||
Prior service credit | 1,407 | 1,393 | |||||||||||||||
Pension liability adjustments, pre-tax | ¥ | (334 | ) | ¥ | (169 | ) | |||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | ' | ||||||||||||||||
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for which the accumulated benefit obligations exceed plan assets are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Projected benefit obligations | ¥ | 13,924 | ¥ | 12,805 | |||||||||||||
Accumulated benefit obligations | 13,718 | 12,539 | |||||||||||||||
Fair value of plan assets | ¥ | 7,653 | ¥ | 6,725 | |||||||||||||
Schedule of Net Benefit Costs | ' | ||||||||||||||||
Yen in millions | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Components of net periodic (benefit) cost: | |||||||||||||||||
Service cost | ¥ | 983 | ¥ | 910 | ¥ | 927 | |||||||||||
Interest cost | 213 | 197 | 180 | ||||||||||||||
Expected return on plan assets | (134 | ) | (139 | ) | (164 | ) | |||||||||||
Amortization of net actuarial loss | 120 | 123 | 92 | ||||||||||||||
Amortization of prior service credit | (171 | ) | (146 | ) | (157 | ) | |||||||||||
Losses from curtailments and settlements | 296 | — | — | ||||||||||||||
Net periodic pension cost | ¥ | 1,307 | ¥ | 945 | ¥ | 878 | |||||||||||
Japanese plans | Benefit Obligations | ' | ||||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||
Weighted-average assumptions used to determine benefit obligations as of March 31, 2013 and 2014 are as follows: | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Discount rate | 1.3 | % | 1.2 | % | |||||||||||||
Rate of compensation increase | 2.2 | % | 4.2 | % | |||||||||||||
Japanese plans | Net Periodic Benefit Cost | ' | ||||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||
Weighted-average assumptions used to determine net pension and severance costs for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Discount rate | 1.6 | % | 1.6 | % | 1.3 | % | |||||||||||
Expected return on plan assets | 2.3 | % | 2.3 | % | 2.6 | % | |||||||||||
Rate of compensation increase | 2.2 | % | 2.3 | % | 2.2 | % | |||||||||||
Foreign plans | ' | ||||||||||||||||
Schedule of Net Funded Status | ' | ||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Change in benefit obligation: | |||||||||||||||||
Benefit obligation at beginning of year | ¥ | 6,119 | ¥ | 19,966 | |||||||||||||
Service cost | 549 | 553 | |||||||||||||||
Interest cost | 625 | 741 | |||||||||||||||
Actuarial loss (gain) | 992 | (548 | ) | ||||||||||||||
Acquisition and other | 10,171 | 131 | |||||||||||||||
Foreign currency exchange rate changes | 2,297 | 2,155 | |||||||||||||||
Benefits paid | (787 | ) | (1,032 | ) | |||||||||||||
19,966 | 21,966 | ||||||||||||||||
Change in plan assets: | |||||||||||||||||
Fair value of plan assets at beginning of year | 563 | 7,014 | |||||||||||||||
Actual return on plan assets | 505 | 957 | |||||||||||||||
Employer contribution | 588 | 2,103 | |||||||||||||||
Acquisition and other | 4,994 | — | |||||||||||||||
Foreign currency exchange rate changes | 886 | 714 | |||||||||||||||
Benefits paid | (522 | ) | (675 | ) | |||||||||||||
Fair value of plan assets at end of year | 7,014 | 10,113 | |||||||||||||||
Funded status | ¥ | (12,952 | ) | ¥ | (11,853 | ) | |||||||||||
Schedule of Amounts Recognized in Balance Sheet | ' | ||||||||||||||||
Amounts included in the consolidated balance sheet are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Accrued pension and severance costs | ¥ | 12,952 | ¥ | 11,853 | |||||||||||||
Net amounts recognized | ¥ | 12,952 | ¥ | 11,853 | |||||||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized | ' | ||||||||||||||||
Amounts included in accumulated other comprehensive income (loss) as pension liability adjustments are comprised of: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Actuarial loss | ¥ | (952 | ) | ¥ | 142 | ||||||||||||
Pension liability adjustments, pre-tax | ¥ | (952 | ) | ¥ | 142 | ||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | ' | ||||||||||||||||
The projected benefit obligations, accumulated benefit obligations and fair value of plan assets for which the accumulated benefit obligations exceed plan assets are as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Projected benefit obligations | ¥ | 19,966 | ¥ | 21,498 | |||||||||||||
Accumulated benefit obligations | 19,708 | 21,300 | |||||||||||||||
Fair value of plan assets | ¥ | 7,014 | ¥ | 9,464 | |||||||||||||
Schedule of Net Benefit Costs | ' | ||||||||||||||||
Yen in millions | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Components of net periodic (benefit) cost: | |||||||||||||||||
Service cost | ¥ | 441 | ¥ | 549 | ¥ | 553 | |||||||||||
Interest cost | 230 | 625 | 741 | ||||||||||||||
Expected return on plan assets | (48 | ) | (445 | ) | (443 | ) | |||||||||||
Amortization of net actuarial loss (gain) | (2 | ) | 6 | 27 | |||||||||||||
Net periodic pension cost | ¥ | 621 | ¥ | 735 | ¥ | 878 | |||||||||||
Foreign plans | Benefit Obligations | ' | ||||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||
Weighted-average assumptions used to determine benefit obligations as of March 31, 2013 and 2014 are as follows: | |||||||||||||||||
March 31 | |||||||||||||||||
2013 | 2014 | ||||||||||||||||
Discount rate | 4.4 | % | 4.4 | % | |||||||||||||
Rate of compensation increase | 3 | % | 3 | % | |||||||||||||
Foreign plans | Net Periodic Benefit Cost | ' | ||||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||
Weighted-average assumptions used to determine net pension and severance costs for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31 | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
Discount rate | 5.7 | % | 4.7 | % | 4.4 | % | |||||||||||
Expected return on plan assets | 4.4 | % | 7.5 | % | 7.5 | % | |||||||||||
Rate of compensation increase | 2.9 | % | 3 | % | 3 | % | |||||||||||
Other_longterm_liabilities_Tab
Other long-term liabilities (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other Noncurrent Liabilities | ' | ||||||||
Other long-term liabilities as of March 31, 2013 and 2014 consist of the following: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Deferred tax liabilities | ¥ | 14,715 | ¥ | 17,138 | |||||
Unrecognized tax benefits, accrued interest and penalty* | 2,173 | 2,321 | |||||||
Other | 4,329 | 5,785 | |||||||
¥ | 21,217 | ¥ | 25,244 | ||||||
* Note: | “Unrecognized tax benefits, accrued interest and penalty” information is described in Note 16 “Income taxes” |
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | ' | ||||||||||||||||||||
The changes in accumulated other comprehensive income (loss) by component are as follows: | |||||||||||||||||||||
Yen in Millions | |||||||||||||||||||||
Foreign | Unrealized | Unrealized | Pension | Total | |||||||||||||||||
currency | gains | gains | liability | ||||||||||||||||||
translation | (losses) | (losses) | adjustments | ||||||||||||||||||
adjustments | from | from | |||||||||||||||||||
securities | derivative | ||||||||||||||||||||
instruments | |||||||||||||||||||||
For the year ended March 31, 2014: | |||||||||||||||||||||
Balance at March 31, 2013 | 12,636 | 1,187 | 242 | (1,112 | ) | 12,953 | |||||||||||||||
Other comprehensive income (loss) before reclassifications | 41,903 | 3,145 | (244 | ) | 754 | 45,558 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | (147 | ) | (22 | ) | 34 | (135 | ) | |||||||||||||
Net change during the current period other comprehensive income (loss) | 41,903 | 2,998 | (266 | ) | 788 | 45,423 | |||||||||||||||
Balance at March 31, 2014 | 54,539 | 4,185 | (24 | ) | (324 | ) | 58,376 | ||||||||||||||
Reclassification Out of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
Reclassification out of accumulated other comprehensive income (loss) are as follows: | |||||||||||||||||||||
Yen in Millions | |||||||||||||||||||||
Amount | Affected line items | ||||||||||||||||||||
Reclassified | in consolidated statement of income | ||||||||||||||||||||
from | |||||||||||||||||||||
Accumulated | |||||||||||||||||||||
other | |||||||||||||||||||||
comprehensive | |||||||||||||||||||||
income (loss) *1 | |||||||||||||||||||||
For the year ended March 31, 2014: | |||||||||||||||||||||
Unrealized gains (losses) from securities | (230 | ) | Gain from marketable securities, net | ||||||||||||||||||
83 | Income taxes | ||||||||||||||||||||
(147 | ) | Consolidated net income | |||||||||||||||||||
— | Net income attributable to noncontrolling interests | ||||||||||||||||||||
(147 | ) | Net income attributable to Nidec Corporation | |||||||||||||||||||
Unrealized gains (losses) from derivative instruments | (37 | ) | Cost of products sold, Interest expense. | ||||||||||||||||||
15 | Income taxes | ||||||||||||||||||||
(22 | ) | Consolidated net income | |||||||||||||||||||
— | Net income attributable to noncontrolling interests | ||||||||||||||||||||
(22 | ) | Net income attributable to Nidec Corporation | |||||||||||||||||||
Pension liability adjustments | (38 | ) | *2 | ||||||||||||||||||
22 | Income taxes | ||||||||||||||||||||
(16 | ) | Consolidated net income | |||||||||||||||||||
50 | Net income attributable to noncontrolling interests | ||||||||||||||||||||
34 | Net income attributable to Nidec Corporation | ||||||||||||||||||||
Total amount reclassified, net of tax and noncontrolling interests | (135 | ) | |||||||||||||||||||
*1 | Amounts in parentheses indicate gains in consolidated statement of income. | ||||||||||||||||||||
*2 | This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost. | ||||||||||||||||||||
Schedule of Comprehensive Income (Loss) | ' | ||||||||||||||||||||
Tax effects allocated to each component of other comprehensive income (loss) and reclassification adjustments, including amounts attributable to noncontrolling interests for the years ended March 31, 2012, 2013 and 2014 are as follows: | |||||||||||||||||||||
Yen in millions | |||||||||||||||||||||
Pre-tax | Tax benefit/ | Net-of-tax | |||||||||||||||||||
amount | (expense) | amount | |||||||||||||||||||
For the year ended March 31, 2012: | |||||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||
Foreign currency translation adjustments arising during period | ¥ | (2,665 | ) | ¥ | — | ¥ | (2,665 | ) | |||||||||||||
Reclassification adjustments for gains and losses realized in net income | 105 | — | 105 | ||||||||||||||||||
Unrealized gains (losses) from securities: | |||||||||||||||||||||
Unrealized holding losses arising during period | (358 | ) | 129 | (229 | ) | ||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 253 | (31 | ) | 222 | |||||||||||||||||
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges: | |||||||||||||||||||||
Unrealized losses arising during period | (541 | ) | 216 | (325 | ) | ||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 291 | (112 | ) | 179 | |||||||||||||||||
Pension liability adjustment: | |||||||||||||||||||||
Actuarial losses arising during period | (831 | ) | 114 | (717 | ) | ||||||||||||||||
Prior service cost arising during period | (10 | ) | 4 | (6 | ) | ||||||||||||||||
Reclassification adjustments for actuarial gains and losses realized in net income | 891 | (340 | ) | 551 | |||||||||||||||||
Reclassification adjustments for prior service credit and cost realized in net income | 463 | (198 | ) | 265 | |||||||||||||||||
Other comprehensive income (loss) | ¥ | (2,402 | ) | ¥ | (218 | ) | ¥ | (2,620 | ) | ||||||||||||
For the year ended March 31, 2013: | |||||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||
Foreign currency translation adjustments arising during period | ¥ | 62,024 | ¥ | — | ¥ | 62,024 | |||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 134 | — | 134 | ||||||||||||||||||
Unrealized gains (losses) from securities: | |||||||||||||||||||||
Unrealized holding gains arising during period | 156 | (56 | ) | 100 | |||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 88 | (37 | ) | 51 | |||||||||||||||||
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges: | |||||||||||||||||||||
Unrealized gains arising during period | 93 | (30 | ) | 63 | |||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | 196 | (90 | ) | 106 | |||||||||||||||||
Pension liability adjustment: | |||||||||||||||||||||
Actuarial losses arising during period | (328 | ) | (93 | ) | (421 | ) | |||||||||||||||
Prior service cost arising during period | — | — | — | ||||||||||||||||||
Reclassification adjustments for actuarial gains and losses realized in net income | 130 | (45 | ) | 85 | |||||||||||||||||
Reclassification adjustments for prior service credit and cost realized in net income | (152 | ) | 55 | (97 | ) | ||||||||||||||||
Other comprehensive income (loss) | ¥ | 62,341 | ¥ | (296 | ) | ¥ | 62,045 | ||||||||||||||
For the year ended March 31, 2014: | |||||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||
Foreign currency translation adjustments arising during period | ¥ | 43,429 | ¥ | — | ¥ | 43,429 | |||||||||||||||
Reclassification adjustments for gains and losses realized in net income | — | — | — | ||||||||||||||||||
Unrealized gains (losses) from securities: | |||||||||||||||||||||
Unrealized holding gains arising during period | 4,567 | (1,440 | ) | 3,127 | |||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | (230 | ) | 83 | (147 | ) | ||||||||||||||||
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges: | |||||||||||||||||||||
Unrealized losses arising during period | (397 | ) | 153 | (244 | ) | ||||||||||||||||
Reclassification adjustments for gains and losses realized in net income | (37 | ) | 15 | (22 | ) | ||||||||||||||||
Pension liability adjustment: | |||||||||||||||||||||
Actuarial gains arising during period | 1,071 | (378 | ) | 693 | |||||||||||||||||
Prior service cost arising during period | 74 | (14 | ) | 60 | |||||||||||||||||
Reclassification adjustments for actuarial gains and losses realized in net income | 119 | (35 | ) | 84 | |||||||||||||||||
Reclassification adjustments for prior service credit and cost realized in net income | (157 | ) | 57 | (100 | ) | ||||||||||||||||
Other comprehensive income (loss) | ¥ | 48,439 | ¥ | (1,559 | ) | ¥ | 46,880 | ||||||||||||||
Income_taxes_Tables
Income taxes (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | ' | ||||||||||||
The components of income from continuing operations before income tax comprise the following: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Income (loss) from continuing operations before income taxes: | |||||||||||||
The Company and domestic subsidiaries | ¥ | 46,181 | ¥ | (7,473 | ) | ¥ | 25,463 | ||||||
Foreign subsidiaries | 24,675 | 20,871 | 59,201 | ||||||||||
¥ | 70,856 | ¥ | 13,398 | ¥ | 84,664 | ||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | ||||||||||||
The provision for income taxes consists of the following: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Current income tax expense/(benefit): | |||||||||||||
The Company and domestic subsidiaries | ¥ | (4,462 | ) | ¥ | 9,200 | ¥ | 1,872 | ||||||
Foreign subsidiaries | 6,694 | 5,713 | 10,139 | ||||||||||
Total current | 2,232 | 14,913 | 12,011 | ||||||||||
Deferred income tax expense (benefit): | |||||||||||||
The Company and domestic subsidiaries | 16,289 | (5,504 | ) | 12,649 | |||||||||
Foreign subsidiaries | 280 | (2,847 | ) | 1,069 | |||||||||
Total deferred | 16,569 | (8,351 | ) | 13,718 | |||||||||
Total provision | ¥ | 18,801 | ¥ | 6,562 | ¥ | 25,729 | |||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows: | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Statutory tax rate | 41 | % | 38 | % | 38 | % | |||||||
Increase (reduction) in taxes resulting from: | |||||||||||||
Tax benefit in foreign subsidiaries | (16.1 | ) | (43.6 | ) | (14.6 | ) | |||||||
Tax on undistributed earnings | 5.1 | 8.9 | 2.2 | ||||||||||
Valuation allowance | 4.1 | 33.7 | (2.3 | ) | |||||||||
Liabilities for unrecognized tax benefits | (10.5 | ) | 2.3 | (0.1 | ) | ||||||||
Reversal of deferred tax assets related to foreign tax credit | — | — | 5.3 | ||||||||||
Changes in Japanese income tax rates | 1.4 | — | 0.3 | ||||||||||
Other | 1.5 | 9.7 | 1.6 | ||||||||||
Effective income tax rate | 26.5 | % | 49 | % | 30.4 | % | |||||||
Summary of Income Tax Holiday | ' | ||||||||||||
The aggregate amounts and per share effects of tax holidays are as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Aggregate amounts of tax holidays | ¥ | 4,023 | ¥ | 2,968 | ¥ | 4,362 | |||||||
Yen | |||||||||||||
Per share—basic | ¥ | 14.63 | ¥ | 11.02 | ¥ | 16.03 | |||||||
—diluted | ¥ | 13.69 | ¥ | 10.3 | ¥ | 15.02 | |||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The significant components of deferred tax assets and liabilities are as follows: | |||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Deferred tax assets: | |||||||||||||
Inventories | ¥ | 3,142 | ¥ | 2,818 | |||||||||
Marketable securities | 1,102 | — | |||||||||||
Property, plant and equipment | — | 5,019 | |||||||||||
Accrued bonus | 2,242 | 2,330 | |||||||||||
Accrued enterprise tax | — | 221 | |||||||||||
Pension and severance plans | 4,526 | 4,464 | |||||||||||
Operating loss carryforwards for tax purposes | 13,646 | 12,811 | |||||||||||
Foreign tax credit | 5,402 | — | |||||||||||
Accrued vacation | 1,135 | 1,090 | |||||||||||
Accrued expenses | 3,636 | 1,421 | |||||||||||
Other | 2,613 | 2,666 | |||||||||||
Gross deferred tax assets | 37,444 | 32,840 | |||||||||||
Less—Valuation allowance | (14,492 | ) | (14,561 | ) | |||||||||
Net deferred tax assets | 22,952 | 18,279 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Refund of enterprise taxes | (285 | ) | — | ||||||||||
Basis difference of acquired assets | (4,495 | ) | (458 | ) | |||||||||
Property, plant and equipment | (1,058 | ) | — | ||||||||||
Undistributed earnings not permanently reinvested | (7,856 | ) | (9,311 | ) | |||||||||
Marketable securities | — | (321 | ) | ||||||||||
Intangible assets | (4,816 | ) | (9,813 | ) | |||||||||
Other | (1,083 | ) | (5,181 | ) | |||||||||
Gross deferred tax liabilities | (19,593 | ) | (25,084 | ) | |||||||||
Net deferred tax assets (liabilities) | ¥ | 3,359 | ¥ | (6,805 | ) | ||||||||
Summary of Valuation Allowance | ' | ||||||||||||
The net changes in the total valuation allowance for deferred tax assets for the years ended March 31, 2012, 2013 and 2014 consist of the following: | |||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Valuation allowance at beginning of year | ¥ | (6,235 | ) | ¥ | (9,786 | ) | ¥ | (14,492 | ) | ||||
Additions | (3,490 | ) | (7,660 | ) | (4,231 | ) | |||||||
Deductions | 1,581 | 2,994 | 4,183 | ||||||||||
Impact on newly acquired companies | (1,642 | ) | (40 | ) | (21 | ) | |||||||
Valuation allowance at end of year | ¥ | (9,786 | ) | ¥ | (14,492 | ) | ¥ | (14,561 | ) | ||||
Components of net deferred tax assets | ' | ||||||||||||
Net deferred tax assets are included in the consolidated balance sheets as follows: | |||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Deferred tax assets: | |||||||||||||
Other current assets | ¥ | 12,787 | ¥ | 10,434 | |||||||||
Other non-current assets | 7,116 | 1,482 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Other current liabilities | (1,829 | ) | (1,583 | ) | |||||||||
Other long-term liabilities | (14,715 | ) | (17,138 | ) | |||||||||
Net deferred tax assets | ¥ | 3,359 | ¥ | (6,805 | ) | ||||||||
Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Balance at April 1 | ¥ | 9,199 | ¥ | 1,766 | ¥ | 2,361 | |||||||
Additions for tax positions of the current year | 1,766 | 44 | 357 | ||||||||||
Additions for tax positions of prior years | — | 551 | — | ||||||||||
Reduction for tax positions of prior years | — | — | (486 | ) | |||||||||
Settlements | (9,199 | ) | — | — | |||||||||
Balance at March 31 | ¥ | 1,766 | ¥ | 2,361 | ¥ | 2,232 | |||||||
Reconciliation_of_the_differen1
Reconciliation of the differences between basic and diluted earnings per share (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Schedule of Earnings Per Share Reconciliation | ' | ||||||||||||
The tables below set forth a reconciliation of the differences between basic and diluted income attributable to Nidec Corporation per share for the years ended March 31, 2012, 2013 and 2014. | |||||||||||||
Yen in | Thousands of | Yen | |||||||||||
millions | shares | ||||||||||||
Net income | Weighted- | Net income | |||||||||||
(loss) | average | (loss) | |||||||||||
attributable to | shares | attributable to | |||||||||||
Nidec | Nidec | ||||||||||||
Corporation | Corporation | ||||||||||||
per share | |||||||||||||
For the year ended March 31, 2012: | |||||||||||||
Basic net income attributable to Nidec Corporation per share: | |||||||||||||
Income from continuing operations attributable to Nidec Corporation | ¥ | 46,242 | 274,981 | ¥ | 168.16 | ||||||||
Loss on discontinued operations attributable to Nidec Corporation | (5,511 | ) | 274,981 | (20.04 | ) | ||||||||
Net income attributable to Nidec Corporation | 40,731 | 274,981 | 148.12 | ||||||||||
Effect of dilutive securities: | |||||||||||||
Zero coupon convertible bonds | (55 | ) | 18,821 | ||||||||||
Diluted net income attributable to Nidec Corporation per share: | |||||||||||||
Income from continuing operations attributable to Nidec Corporation | 46,187 | 293,802 | 157.2 | ||||||||||
Loss on discontinued operations attributable to Nidec Corporation | (5,511 | ) | 293,802 | (18.75 | ) | ||||||||
Net income attributable to Nidec Corporation | ¥ | 40,676 | 293,802 | ¥ | 138.45 | ||||||||
For the year ended March 31, 2013: | |||||||||||||
Basic net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 7,986 | 269,429 | ¥ | 29.64 | ||||||||
Effect of dilutive securities: | |||||||||||||
Zero coupon convertible bonds | (61 | ) | 18,821 | ||||||||||
Diluted net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 7,925 | 288,250 | ¥ | 27.49 | ||||||||
Yen in | Thousands of | Yen | |||||||||||
millions | shares | ||||||||||||
Net income | Weighted- | Net income | |||||||||||
(loss) | average | (loss) | |||||||||||
attributable to | shares | attributable to | |||||||||||
Nidec | Nidec | ||||||||||||
Corporation | Corporation | ||||||||||||
per share | |||||||||||||
For the year ended March 31, 2014: | |||||||||||||
Basic net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 56,404 | 272,078 | ¥ | 207.31 | ||||||||
Effect of dilutive securities: | |||||||||||||
Zero coupon convertible bonds | (64 | ) | 18,400 | ||||||||||
Diluted net income attributable to Nidec Corporation per share: | |||||||||||||
Net income attributable to Nidec Corporation | ¥ | 56,340 | 290,478 | ¥ | 193.96 | ||||||||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | |||||||||||||||
Schedule of Derivative Instruments | ' | ||||||||||||||
Derivatives designated as hedging instruments are as follows: | |||||||||||||||
Yen in millions | |||||||||||||||
March 31, 2013 | March 31, 2014 | ||||||||||||||
Foreign exchange forward contracts | ¥ | 7,403 | ¥ | 9,736 | |||||||||||
Interest rate swap agreements | 32,205 | 20,587 | |||||||||||||
Commodity futures | 3,739 | 4,610 | |||||||||||||
Derivatives not designated as hedging instruments are as follows: | |||||||||||||||
Yen in millions | |||||||||||||||
March 31, 2013 | March 31, 2014 | ||||||||||||||
Foreign exchange forward contracts | ¥ | 149 | ¥ | 1,800 | |||||||||||
Currency option contracts | 231 | 53 | |||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | ' | ||||||||||||||
Derivatives designated as cash flow hedge are as follows: | |||||||||||||||
Asset Derivatives | |||||||||||||||
Balance sheet location | Yen in millions | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2013 | 2014 | ||||||||||||||
Foreign exchange forward contracts | Other current assets | ¥ | 659 | ¥ | 271 | ||||||||||
Liability Derivatives | |||||||||||||||
Balance sheet location | Yen in millions | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2013 | 2014 | ||||||||||||||
Foreign exchange forward contracts | Other current liabilities | ¥ | 22 | ¥ | 1 | ||||||||||
Interest rate swap agreements | Other current liabilities | 20 | 31 | ||||||||||||
Commodity futures | Other current liabilities | 181 | 239 | ||||||||||||
Derivatives not designated as hedging instruments are as follows: | |||||||||||||||
Asset Derivatives | |||||||||||||||
Balance sheet location | Yen in millions | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2013 | 2014 | ||||||||||||||
Foreign exchange forward contracts | Other current assets | ¥ | 16 | ¥ | 4 | ||||||||||
Currency option contracts | Other current assets | 10 | 7 | ||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | ' | ||||||||||||||
Derivatives designated as cash flow hedge are as follows: | |||||||||||||||
Gains (losses) recognized in accumulated other comprehensive income | |||||||||||||||
Yen in millions | |||||||||||||||
For the year ended March 31 | |||||||||||||||
2012 | 2013 | 2014 | |||||||||||||
Foreign exchange forward contracts | ¥ | (68 | ) | ¥ | 277 | ¥ | (229 | ) | |||||||
Interest rate swap agreements | — | (6 | ) | (5 | ) | ||||||||||
Commodity futures | (78 | ) | (102 | ) | (32 | ) | |||||||||
Gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) | |||||||||||||||
Statement of income location | Yen in millions | ||||||||||||||
For the year ended March 31 | |||||||||||||||
2012 | 2013 | 2014 | |||||||||||||
Foreign exchange forward contracts | Cost of sales | ¥ | 17 | ¥ | 81 | ¥ | 241 | ||||||||
Interest rate swap agreements | Interest expense | — | (4 | ) | (7 | ) | |||||||||
Commodity futures | Cost of sales | (196 | ) | (183 | ) | (212 | ) | ||||||||
Derivatives not designated as hedging instruments are as follows: | |||||||||||||||
Gains (losses) recognized in income | |||||||||||||||
Statement of income location | Yen in millions | ||||||||||||||
For the year ended March 31 | |||||||||||||||
2012 | 2013 | 2014 | |||||||||||||
Foreign exchange forward contracts | Foreign exchange gain (loss), net | ¥ | — | ¥ | 22 | ¥ | 23 | ||||||||
Currency option contracts | Foreign exchange gain (loss), net | — | 40 | 18 | |||||||||||
Interest rate currency swap agreements | Other, net | 2 | — | — | |||||||||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | ||||||||||||||||
The following table provides information by level for assets and liabilities that are measured at fair value, as defined by ASC 820, on a recurring basis. | |||||||||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2013 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | ¥ | 14,060 | ¥ | 13,649 | ¥ | 411 | — | ||||||||||
Derivatives | 685 | — | 685 | — | |||||||||||||
Total assets: | ¥ | 14,745 | ¥ | 13,649 | ¥ | 1,096 | — | ||||||||||
Liabilities: | |||||||||||||||||
Derivatives | ¥ | 223 | ¥ | 181 | ¥ | 42 | — | ||||||||||
Yen in millions | |||||||||||||||||
Fair Value at | Fair Value Measurements | ||||||||||||||||
March 31, 2014 | Using Inputs Considered as | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
Assets: | |||||||||||||||||
Marketable securities | ¥ | 14,383 | ¥ | 14,383 | — | — | |||||||||||
Derivatives | 282 | — | 282 | — | |||||||||||||
Total assets: | ¥ | 14,665 | ¥ | 14,383 | ¥ | 282 | — | ||||||||||
Liabilities: | |||||||||||||||||
Derivatives | ¥ | 271 | ¥ | 239 | ¥ | 32 | — | ||||||||||
Fair Value, by Balance Sheet Grouping | ' | ||||||||||||||||
The carrying amount and estimated fair values of NIDEC’s financial instruments, excluding those disclosed elsewhere, are summarized as follows: | |||||||||||||||||
Yen in millions | Yen in millions | ||||||||||||||||
March 31, 2013 | March 31, 2014 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
amount | fair value | amount | Fair value | ||||||||||||||
Asset (Liability): | |||||||||||||||||
Cash and cash equivalents | ¥ | 193,420 | ¥ | 193,420 | ¥ | 247,740 | ¥ | 247,740 | |||||||||
Short-term investments | 1,552 | 1,552 | 2,344 | 2,344 | |||||||||||||
Long-term investments | — | — | 83 | 82 | |||||||||||||
Short-term loan receivable | 132 | 132 | 157 | 157 | |||||||||||||
Long-term loan receivable | 89 | 91 | 48 | 50 | |||||||||||||
Short-term borrowings | (32,798 | ) | (32,798 | ) | (22,600 | ) | (22,600 | ) | |||||||||
Long-term debt including the current portion and excluding capital lease obligation and bonds | (73,925 | ) | (73,907 | ) | (77,804 | ) | (77,486 | ) | |||||||||
Bonds including the current portion | ¥ | (200,347 | ) | ¥ | (200,850 | ) | ¥ | (245,991 | ) | ¥ | (271,853 | ) | |||||
Lease_commitments_Tables
Lease commitments (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Capital Leased Assets | ' | ||||||||
An analysis of leased assets under capital leases is as follows: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
Class of property | 2013 | 2014 | |||||||
Machinery and equipment | ¥ | 6,950 | ¥ | 7,336 | |||||
Other leased assets | 65 | 109 | |||||||
Less—Accumulated amortization | (1,345 | ) | (2,511 | ) | |||||
¥ | 5,670 | ¥ | 4,934 | ||||||
Schedule of Future Minimum Lease Payments for Capital Leases | ' | ||||||||
The future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of March 31, 2014 are as follows: | |||||||||
Yen in | |||||||||
millions | |||||||||
Year ending March 31: | |||||||||
2015 | ¥ | 1,810 | |||||||
2016 | 2,019 | ||||||||
2017 | 658 | ||||||||
2018 | 563 | ||||||||
2019 | 114 | ||||||||
2020 and thereafter | 9 | ||||||||
Total minimum lease payments | 5,173 | ||||||||
Less—Amount representing interest | (312 | ) | |||||||
Present value of net minimum lease payments | 4,861 | ||||||||
Less—Current obligations | (1,667 | ) | |||||||
Long-term capital lease obligations | ¥ | 3,194 | |||||||
Operating Leases of Lessee Disclosure | ' | ||||||||
The minimum rental payments required under operating leases relating primarily to land, buildings and equipment having initial or remaining non-cancelable lease terms in excess of one year as of March 31, 2014 are as follows: | |||||||||
Yen in | |||||||||
millions | |||||||||
Year ending March 31: | |||||||||
2015 | ¥ | 2,319 | |||||||
2016 | 1,757 | ||||||||
2017 | 1,197 | ||||||||
2018 | 996 | ||||||||
2019 | 965 | ||||||||
2020 and thereafter | 1,941 | ||||||||
Total minimum future rentals | ¥ | 9,175 | |||||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | ||||||||
The future minimum lease payments to be received under operating leases that have remaining non-cancelable terms as of March 31, 2014 are as follows: | |||||||||
Yen in | |||||||||
millions | |||||||||
Year ending March 31: | |||||||||
2015 | ¥ | 31 | |||||||
2016 | 25 | ||||||||
2017 | 25 | ||||||||
2018 | 26 | ||||||||
2019 | 26 | ||||||||
2020 and thereafter | 91 | ||||||||
Total minimum future rentals | ¥ | 224 | |||||||
Other_commitments_and_continge1
Other commitments and contingencies, concentrations and factors that may affect future operations (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Product Warranty Liability | ' | ||||||||
The changes in product warranty liability for the years ended March 31, 2013 and 2014 are summarized as follows: | |||||||||
Yen in millions | |||||||||
March 31 | |||||||||
2013 | 2014 | ||||||||
Balance at beginning of year | ¥ | 971 | ¥ | 2,201 | |||||
Addition | 1,626 | 2,021 | |||||||
Utilization | (664 | ) | (1,080 | ) | |||||
Foreign exchange impact | 268 | (106 | ) | ||||||
Balance at end of year | ¥ | 2,201 | ¥ | 3,036 | |||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | ' | ||||||||||||||||
Operating results of discontinued operations for the year ended March 31, 2012 were as follows: | |||||||||||||||||
Yen in millions | |||||||||||||||||
For the year ended | |||||||||||||||||
March 31, 2012 | |||||||||||||||||
LAC | PGN | CLU | Total | ||||||||||||||
business | business | business | |||||||||||||||
Net sales | ¥ | 1,576 | ¥ | 1,365 | ¥ | 2,674 | ¥ | 5,615 | |||||||||
Loss on discontinued operations before income taxes | ¥ | (2,203 | ) | ¥ | (1,817 | ) | ¥ | (3,776 | ) | ¥ | (7,796 | ) | |||||
Income taxes | (269 | ) | 129 | 168 | 28 | ||||||||||||
Loss on discontinued operations | ¥ | (2,472 | ) | ¥ | (1,688 | ) | ¥ | (3,608 | ) | ¥ | (7,768 | ) | |||||
Segment_information_Tables
Segment information (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Schedule of Entity-Wide Information, Revenue from External Customers by Products and Services | ' | ||||||||||||
The following table provides product information for the years ended March 31, 2012, 2013 and 2014: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales: | |||||||||||||
Small precision motors: | |||||||||||||
Hard disk drives spindle motors | ¥ | 176,932 | ¥ | 165,427 | ¥ | 185,506 | |||||||
Other small precision motors | 154,505 | 154,297 | 177,007 | ||||||||||
Sub-total | 331,437 | 319,724 | 362,513 | ||||||||||
Automotive, appliance, commercial and industrial products | 208,529 | 248,464 | 345,236 | ||||||||||
Machinery | 64,904 | 63,526 | 86,955 | ||||||||||
Electronic and optical components | 69,377 | 69,188 | 72,845 | ||||||||||
Others | 8,073 | 8,368 | 7,560 | ||||||||||
Consolidated total | ¥ | 682,320 | ¥ | 709,270 | ¥ | 875,109 | |||||||
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | ' | ||||||||||||
Revenues from external customers, which are attributed to countries based on the location of the Company or the subsidiaries that transacted with the external customer for the years ended March 31, 2012, 2013 and 2014, and long-lived assets as of March 31, 2013 and 2014 are as follows: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales: | |||||||||||||
Japan | ¥ | 260,470 | ¥ | 213,169 | ¥ | 238,278 | |||||||
U.S.A. | 71,317 | 99,260 | 132,117 | ||||||||||
Singapore | 40,595 | 55,712 | 63,950 | ||||||||||
Thailand | 75,908 | 81,678 | 85,435 | ||||||||||
The Philippines | 19,683 | 18,543 | 24,506 | ||||||||||
China | 148,553 | 150,631 | 197,134 | ||||||||||
Other | 65,794 | 90,277 | 133,689 | ||||||||||
Consolidated total | ¥ | 682,320 | ¥ | 709,270 | ¥ | 875,109 | |||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Long-lived assets: | |||||||||||||
Japan | ¥ | 86,612 | ¥ | 96,239 | |||||||||
U.S.A. | 21,047 | 23,046 | |||||||||||
Singapore | 1,899 | 1,337 | |||||||||||
Thailand | 42,418 | 37,925 | |||||||||||
The Philippines | 11,838 | 12,904 | |||||||||||
China | 56,756 | 65,007 | |||||||||||
Other | 57,407 | 62,423 | |||||||||||
Consolidated total | ¥ | 277,977 | ¥ | 298,881 | |||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||
The following tables show net sales to external customers and other financial information by operating segment for the years ended March 31, 2012, 2013 and 2014: | |||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales to external customers: | |||||||||||||
Nidec Corporation | ¥ | 46,901 | ¥ | 23,748 | ¥ | 27,599 | |||||||
Nidec Electronics (Thailand) | 64,226 | 63,349 | 67,623 | ||||||||||
Nidec (Zhejiang) | 26,430 | 21,109 | 18,017 | ||||||||||
Nidec (Dalian) | 4,269 | 3,648 | 1,940 | ||||||||||
Nidec Singapore | 34,220 | 50,039 | 57,893 | ||||||||||
Nidec (H.K.) | 50,748 | 52,028 | 69,890 | ||||||||||
Nidec Philippines | 15,326 | 14,707 | 19,573 | ||||||||||
Nidec Sankyo | 78,589 | 73,201 | 98,564 | ||||||||||
Nidec Copal | 51,124 | 49,627 | 47,023 | ||||||||||
Nidec Tosok | 33,358 | 31,090 | 36,854 | ||||||||||
Nidec Copal Electronics | 29,098 | 26,845 | 31,295 | ||||||||||
Nidec Techno Motor | 40,058 | 39,940 | 50,691 | ||||||||||
Nidec Motor | 83,999 | 119,093 | 175,854 | ||||||||||
Nidec Motors & Actuators | 44,748 | 44,707 | 64,420 | ||||||||||
All Others | 78,268 | 96,236 | 106,996 | ||||||||||
Total | 681,362 | 709,367 | 874,232 | ||||||||||
Adjustments *1 | 958 | (97 | ) | 877 | |||||||||
Consolidated total | ¥ | 682,320 | ¥ | 709,270 | ¥ | 875,109 | |||||||
*1 | US GAAP adjustments primarily relate to the difference between recognition of revenue at the time of shipment and at the time of customer receipt. | ||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Net sales to other operating segments: | |||||||||||||
Nidec Corporation | ¥ | 100,064 | ¥ | 108,282 | ¥ | 138,354 | |||||||
Nidec Electronics (Thailand) | 36,649 | 35,492 | 43,982 | ||||||||||
Nidec (Zhejiang) | 3,617 | 2,977 | 5,011 | ||||||||||
Nidec (Dalian) | 15,471 | 11,117 | 10,559 | ||||||||||
Nidec Singapore | 448 | 709 | 749 | ||||||||||
Nidec (H.K.) | 1,162 | 1,734 | 1,339 | ||||||||||
Nidec Philippines | 24,390 | 25,682 | 29,266 | ||||||||||
Nidec Sankyo | 396 | 300 | 312 | ||||||||||
Nidec Copal | 2,318 | 2,093 | 2,318 | ||||||||||
Nidec Tosok | 150 | 190 | 171 | ||||||||||
Nidec Copal Electronics | 20 | 20 | 11 | ||||||||||
Nidec Techno Motor | 952 | 3,143 | 4,041 | ||||||||||
Nidec Motor | 30 | 154 | 80 | ||||||||||
Nidec Motors & Actuators | 11,607 | 15,170 | 20,213 | ||||||||||
All Others | 53,061 | 55,834 | 73,029 | ||||||||||
Total | 250,335 | 262,897 | 329,435 | ||||||||||
Intersegment elimination | (250,335 | ) | (262,897 | ) | (329,435 | ) | |||||||
Consolidated total | — | — | — | ||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Operating income or loss: | |||||||||||||
Nidec Corporation | ¥ | 7,497 | ¥ | (4,856 | ) | ¥ | 4,865 | ||||||
Nidec Electronics (Thailand) | 15,027 | 10,525 | 12,781 | ||||||||||
Nidec (Zhejiang) | 774 | (2,689 | ) | (243 | ) | ||||||||
Nidec (Dalian) | 431 | (409 | ) | 475 | |||||||||
Nidec Singapore | 781 | 1,115 | 709 | ||||||||||
Nidec (H.K.) | 359 | 146 | 483 | ||||||||||
Nidec Philippines | 7,799 | 4,883 | 6,037 | ||||||||||
Nidec Sankyo | 7,414 | 4,181 | 10,392 | ||||||||||
Nidec Copal | 6,384 | (3,192 | ) | (1,323 | ) | ||||||||
Nidec Tosok | 3,140 | 1,715 | 3,186 | ||||||||||
Nidec Copal Electronics | 4,194 | 3,277 | 5,288 | ||||||||||
Nidec Techno Motor | 4,591 | 4,168 | 6,671 | ||||||||||
Nidec Motor | 2,111 | 723 | 9,314 | ||||||||||
Nidec Motors & Actuators | 3,126 | 3,447 | 5,334 | ||||||||||
All Others | 11,201 | 10,540 | 18,911 | ||||||||||
Total | 74,829 | 33,574 | 82,880 | ||||||||||
Reclassification *1 | (3,072 | ) | (17,606 | ) | 2,055 | ||||||||
U.S. GAAP adjustments and Others *2 | (1,476 | ) | (537 | ) | (1,133 | ) | |||||||
Consolidation adjustments mainly related to elimination of intersegment income or loss | 2,789 | 2,167 | 1,266 | ||||||||||
¥ | 73,070 | ¥ | 17,598 | ¥ | 85,068 | ||||||||
*1 | Some items are reclassified from other expenses (income) and included in operating expenses (income). Main reclassification is income or loss from sales or disposals of fixed assets for the year ended March 31, 2012, 2013 and 2014. | ||||||||||||
*2 | Others is mainly from the amortization of identifiable intangible assets related to business combinations for the years ended March 31, 2012, 2013 and 2014. | ||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Depreciation: | |||||||||||||
Nidec Corporation | ¥ | 995 | ¥ | 917 | ¥ | 921 | |||||||
Nidec Electronics (Thailand) | 5,085 | 5,572 | 5,502 | ||||||||||
Nidec (Zhejiang) | 1,231 | 1,196 | 618 | ||||||||||
Nidec (Dalian) | 802 | 914 | 359 | ||||||||||
Nidec Singapore | 70 | 133 | 197 | ||||||||||
Nidec (H.K.) | 6 | 7 | 6 | ||||||||||
Nidec Philippines | 2,598 | 2,750 | 2,732 | ||||||||||
Nidec Sankyo | 3,715 | 3,773 | 4,102 | ||||||||||
Nidec Copal | 3,115 | 3,806 | 4,444 | ||||||||||
Nidec Tosok | 2,660 | 2,930 | 3,775 | ||||||||||
Nidec Copal Electronics | 1,150 | 1,318 | 1,283 | ||||||||||
Nidec Techno Motor | 1,491 | 1,890 | 2,573 | ||||||||||
Nidec Motor | 3,892 | 6,481 | 9,171 | ||||||||||
Nidec Motors & Actuators | 1,423 | 1,470 | 2,186 | ||||||||||
All Others | 4,297 | 5,265 | 6,537 | ||||||||||
Total | 32,530 | 38,422 | 44,406 | ||||||||||
U.S. GAAP adjustments *1 and Others *2 | (1,019 | ) | (3,487 | ) | (4,921 | ) | |||||||
Consolidated total | ¥ | 31,511 | ¥ | 34,935 | ¥ | 39,485 | |||||||
*1 | Some leased assets are not capitalized in the operating segments but are capitalized under U.S. GAAP. | ||||||||||||
*2 | The amount of each segment includes amortization of intangible assets. Others mainly represent adjustments to exclude the amortization of intangible assets in order to reconcile amounts to consolidated total of depreciation in consolidated statements of cash flows. | ||||||||||||
Yen in millions | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Segment assets: | |||||||||||||
Nidec Corporation | ¥ | 565,451 | ¥ | 628,338 | |||||||||
Nidec Electronics (Thailand) | 91,784 | 116,476 | |||||||||||
Nidec (Zhejiang) | 13,897 | 12,112 | |||||||||||
Nidec (Dalian) | 24,159 | 20,763 | |||||||||||
Nidec Singapore | 21,590 | 27,689 | |||||||||||
Nidec (H.K.) | 15,678 | 22,458 | |||||||||||
Nidec Philippines | 37,084 | 49,569 | |||||||||||
Nidec Sankyo | 107,393 | 125,929 | |||||||||||
Nidec Copal | 62,376 | 55,166 | |||||||||||
Nidec Tosok | 43,566 | 50,221 | |||||||||||
Nidec Copal Electronics | 38,684 | 42,115 | |||||||||||
Nidec Techno Motor | 42,508 | 49,703 | |||||||||||
Nidec Motor | 178,429 | 197,315 | |||||||||||
Nidec Motors & Actuators | 46,601 | 68,405 | |||||||||||
All Others | 158,388 | 217,075 | |||||||||||
Total | 1,447,588 | 1,683,334 | |||||||||||
Elimination of intersegment assets, net of taxes | (579,766 | ) | (626,822 | ) | |||||||||
Identifiable intangible assets and other fair value adjustments | 12,502 | 11,626 | |||||||||||
Goodwill | 132,775 | 154,927 | |||||||||||
U.S.GAAP adjustments and Others *1 | (7,682 | ) | (57,147 | ) | |||||||||
Consolidated total | ¥ | 1,005,417 | ¥ | 1,165,918 | |||||||||
*1 | Others is mainly due to the reclassification of deferred tax assets and liabilities on consolidation. | ||||||||||||
Yen in millions | |||||||||||||
For the year ended | |||||||||||||
March 31 | |||||||||||||
2013 | 2014 | ||||||||||||
Capital expenditure for segment assets: | |||||||||||||
Nidec Corporation | ¥ | 1,991 | ¥ | 1,884 | |||||||||
Nidec Electronics (Thailand) | 14,588 | 1,232 | |||||||||||
Nidec (Zhejiang) | 710 | 712 | |||||||||||
Nidec (Dalian) | 2,372 | 972 | |||||||||||
Nidec Singapore | 417 | 9 | |||||||||||
Nidec (H.K.) | 5 | 6 | |||||||||||
Nidec Philippines | 1,876 | 3,368 | |||||||||||
Nidec Sankyo | 4,777 | 3,712 | |||||||||||
Nidec Copal | 9,539 | 2,427 | |||||||||||
Nidec Tosok | 5,814 | 9,432 | |||||||||||
Nidec Copal Electronics | 984 | 826 | |||||||||||
Nidec Techno Motor | 5,144 | 3,549 | |||||||||||
Nidec Motor | 3,594 | 4,134 | |||||||||||
Nidec Motors & Actuators | 1,845 | 3,019 | |||||||||||
All Others | 7,712 | 5,015 | |||||||||||
Consolidated total | ¥ | 61,368 | ¥ | 40,297 | |||||||||
Quarterly_Financial_Data_for_t1
Quarterly Financial Data for the year ended March 31, 2014 (Tables) | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Schedule of Quarterly Financial Information | ' | ||||||||||||||||||||
Yen in millions | |||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
Net sales | ¥ | 211,276 | ¥ | 218,358 | ¥ | 217,091 | ¥ | 228,384 | ¥ | 875,109 | |||||||||||
Income before income taxes | 17,366 | 21,075 | 24,084 | 22,139 | 84,664 | ||||||||||||||||
Net income attributable to Nidec Corporation | ¥ | 13,346 | ¥ | 13,757 | ¥ | 15,950 | ¥ | 13,351 | ¥ | 56,404 | |||||||||||
Yen | |||||||||||||||||||||
Net income attributable to Nidec Corporation per share: | |||||||||||||||||||||
Basic *1 | 49.73 | 51.26 | 57.84 | 48.41 | 207.31 | ||||||||||||||||
Diluted *1 | 46.42 | 47.85 | 54.24 | 45.39 | 193.96 | ||||||||||||||||
Notes: | |||||||||||||||||||||
*1: | Earnings-per-share amounts for each quarter are computed independently. As a result, their sum may not equal the total year earnings-per-share amounts. |
Recovered_Sheet1
Summary of Significant Accounting Policies - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Cash and cash equivalents, maximum original maturities of highly liquid investments | 'three months or less | ' | ' |
Depreciation | ¥ 39,485 | ¥ 34,935 | ¥ 31,511 |
Advertising costs | ¥ 477 | ¥ 296 | ¥ 228 |
Minimum percentage of likelihood of tax benefits being realized upon settlement in measurement of benefits from tax positions that meet the more-likely-than-not recognition threshold | 50.00% | ' | ' |
Proprietary technology | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Weighted average amortization period (in years) | '12 years | ' | ' |
Customer relationships | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Weighted average amortization period (in years) | '18 years | ' | ' |
Software | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Weighted average amortization period (in years) | '5 years | ' | ' |
Other products factories | Minimum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '7 years | ' | ' |
Other products factories | Maximum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '47 years | ' | ' |
Head office and sales offices | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '50 years | ' | ' |
Leasehold Improvements | Minimum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '3 years | ' | ' |
Leasehold Improvements | Maximum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '18 years | ' | ' |
Machinery and Equipment | Minimum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '2 years | ' | ' |
Machinery and Equipment | Maximum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Property, plant and equipment, estimated useful life (in years) | '15 years | ' | ' |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (JPY ¥) | 0 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | ||||||
In Millions, unless otherwise specified | Apr. 02, 2014 | Mar. 31, 2014 | Nov. 01, 2012 | 31-May-12 | Apr. 02, 2012 | Sep. 28, 2012 | Oct. 02, 2012 | Dec. 28, 2012 | Jan. 02, 2014 | Mar. 31, 2014 |
Subsequent Event | Selling, General and Administrative Expenses | Kinetek Group Inc. ("Kinetek") | Ansaldo Sistemi Industriali S.p.A. ("Nidec ASI") | Minster Machine Company | Avtron Industrial Automation, Inc. ("Avtron") | SCD Co., Ltd. | Nidec Kaiyu Auto Electric (Jiangsu) Co., Ltd. ("Kaiyu") | Mitsubishi Materials C.M.I. Corporation ("CMI") | Honda Elesys Co., Ltd. ("Elesys") | |
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, cash paid | ' | ' | ¥ 35,697 | ¥ 36,564 | ¥ 9,202 | ¥ 4,861 | ¥ 3,305 | ¥ 1,018 | ¥ 5,228 | ¥ 24,320 |
Business acquisition, percentage of ownership acquired | ' | ' | ' | ' | ' | ' | 51.40% | 51.00% | ' | ' |
Business acquisition, Acquisition-related cost | ' | ¥ 147 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, stock split | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Estimated_Fair_Valu
Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Jan. 02, 2014 | Mar. 31, 2014 |
In Millions, unless otherwise specified | Mitsubishi Materials C.M.I. Corporation ("CMI") | Honda Elesys Co., Ltd. ("Elesys") | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ¥ 1,081 | ¥ 5,759 |
Accounts receivable | ' | ' | ' | 1,323 | 5,176 |
Inventories | ' | ' | ' | 2,155 | 4,600 |
Other current assets | ' | ' | ' | 683 | 1,483 |
Property, plant and equipment | ' | ' | ' | 4,538 | 6,803 |
Goodwill | 154,927 | 132,775 | 80,525 | 2,114 | 9,668 |
Intangible assets | ' | ' | ' | 55 | 58 |
Other non-current assets | ' | ' | ' | 790 | 657 |
Total assets acquired | ' | ' | ' | 12,739 | 34,204 |
Accounts payable | ' | ' | ' | -1,420 | -6,618 |
Other current liabilities | ' | ' | ' | -2,834 | -2,417 |
Other non-current liabilities | ' | ' | ' | -3,256 | -849 |
Total liabilities assumed | ' | ' | ' | -7,510 | -9,884 |
Noncontrolling interests | ' | ' | ' | -1 | ' |
Net assets acquired | ' | ' | ' | ¥ 5,228 | ¥ 24,320 |
Goodwill_Allocated_to_Operatin
Goodwill Allocated to Operating Segment (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
In Millions, unless otherwise specified | |||
Goodwill [Line Items] | ' | ' | ' |
Amount of Goodwill | ¥ 154,927 | ¥ 132,775 | ¥ 80,525 |
Nidec Sankyo | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Amount of Goodwill | 29,533 | 27,312 | 26,100 |
All others | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Amount of Goodwill | 20,101 | 9,922 | 4,504 |
Mitsubishi Materials C.M.I. Corporation ("CMI") and Honda Elesys Co., Ltd. ("Elesys") | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Amount of Goodwill | 11,782 | ' | ' |
Amount of Goodwill deductible for tax purposes | 727 | ' | ' |
Mitsubishi Materials C.M.I. Corporation ("CMI") and Honda Elesys Co., Ltd. ("Elesys") | Nidec Sankyo | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Amount of Goodwill | 2,114 | ' | ' |
Amount of Goodwill deductible for tax purposes | 334 | ' | ' |
Mitsubishi Materials C.M.I. Corporation ("CMI") and Honda Elesys Co., Ltd. ("Elesys") | All others | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Amount of Goodwill | 9,668 | ' | ' |
Amount of Goodwill deductible for tax purposes | ¥ 393 | ' | ' |
Pro_Forma_Results_of_Operation
Pro Forma Results of Operations (Detail) (JPY ¥) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Business Acquisition [Line Items] | ' | ' |
Pro forma net sales | ¥ 928,910 | ¥ 787,716 |
Pro forma net income | ¥ 57,788 | ¥ 9,378 |
Pro forma net income attributable to Nidec Corporation per share | ' | ' |
-basic | ¥ 212.4 | ¥ 34.81 |
-diluted | ¥ 198.72 | ¥ 32.32 |
Intangible_Assets_Subject_to_A
Intangible Assets Subject to Amortization (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amounts | ¥ 84,817 | ¥ 72,870 |
Accumulated amortization | 24,131 | 16,089 |
Carrying amounts | 60,686 | 56,781 |
Proprietary technology | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amounts | 11,671 | 10,017 |
Accumulated amortization | 2,535 | 1,469 |
Carrying amounts | 9,136 | 8,548 |
Customer relationships | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amounts | 48,157 | 43,305 |
Accumulated amortization | 9,626 | 5,817 |
Carrying amounts | 38,531 | 37,488 |
Software | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amounts | 18,001 | 13,830 |
Accumulated amortization | 8,625 | 6,878 |
Carrying amounts | 9,376 | 6,952 |
Other | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amounts | 6,988 | 5,718 |
Accumulated amortization | 3,345 | 1,925 |
Carrying amounts | ¥ 3,643 | ¥ 3,793 |
Recovered_Sheet2
Goodwill and Other Intangible Assets - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' |
Total amortization of intangible assets | ¥ 6,377 | ¥ 4,627 | ¥ 2,664 |
Total indefinite lived intangible assets | ¥ 7,920 | ¥ 7,208 | ' |
Proprietary technology | ' | ' | ' |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' |
Weighted average amortization period (in years) | '12 years | ' | ' |
Customer relationships | ' | ' | ' |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' |
Weighted average amortization period (in years) | '18 years | ' | ' |
Software | ' | ' | ' |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' |
Weighted average amortization period (in years) | '5 years | ' | ' |
Estimated_Aggregate_Amortizati
Estimated Aggregate Amortization Expense for Intangible Assets for Next Five Years (Detail) (JPY ¥) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Expected Amortization Expense [Line Items] | ' |
2015 | ¥ 6,773 |
2016 | 6,445 |
2017 | 5,767 |
2018 | 5,123 |
2019 | ¥ 4,656 |
Changes_in_Carrying_Amount_of_
Changes in Carrying Amount of Goodwill (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | ¥ 132,775 | ¥ 80,525 | ' |
Acquisition | 11,782 | 40,962 | ' |
Impairment loss | ' | ' | 2,045 |
Translation adjustments and Others | 10,370 | 11,288 | ' |
Ending Balance | 154,927 | 132,775 | 80,525 |
Nidec Electronics (Thailand) | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 6,994 | 6,109 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | 651 | 885 | ' |
Ending Balance | 7,645 | 6,994 | ' |
Nidec (Zhejiang) | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 1,044 | 912 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | 98 | 132 | ' |
Ending Balance | 1,142 | 1,044 | ' |
Nidec Sankyo | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 27,312 | 26,100 | ' |
Acquisition | 2,114 | 1,094 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | 107 | 118 | ' |
Ending Balance | 29,533 | 27,312 | ' |
Nidec Copal | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 16,462 | 16,462 | ' |
Impairment loss | ' | ' | ' |
Ending Balance | 16,462 | 16,462 | ' |
Nidec Tosok | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 1,038 | 1,107 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | ' | -69 | ' |
Ending Balance | 1,038 | 1,038 | ' |
Nidec Copal Electronics | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 6,561 | 6,561 | ' |
Impairment loss | ' | ' | ' |
Ending Balance | 6,561 | 6,561 | ' |
Nidec Techno Motor | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 2,049 | 2,049 | ' |
Impairment loss | ' | ' | ' |
Ending Balance | 2,049 | 2,049 | ' |
Nidec Motor | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 55,008 | 11,984 | ' |
Acquisition | ' | 34,021 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | 8,070 | 9,003 | ' |
Ending Balance | 63,078 | 55,008 | ' |
Nidec Motors & Actuators | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 6,385 | 4,737 | ' |
Acquisition | ' | 1,062 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | 933 | 586 | ' |
Ending Balance | 7,318 | 6,385 | ' |
All others | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Beginning Balance | 9,922 | 4,504 | ' |
Acquisition | 9,668 | 4,785 | ' |
Impairment loss | ' | ' | ' |
Translation adjustments and Others | 511 | 633 | ' |
Ending Balance | ¥ 20,101 | ¥ 9,922 | ' |
Supplemental_Information_Assoc
Supplemental Information Associated with the Consolidated Statements of Cash Flows (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Cash paid during the fiscal year for: | ' | ' | ' |
Income taxes | ¥ 12,613 | ¥ 25,879 | ¥ 8,197 |
Interest | 1,636 | 395 | 327 |
Non-cash investing and financing activities: | ' | ' | ' |
Capital leasing receivables | ' | ' | 31 |
Capital lease obligations | 499 | 206 | 214 |
Change in common stock in connection with share exchange transaction | 4,279 | 3,270 | ' |
Change in treasury stock in connection with share exchange transaction | ¥ 20,655 | ¥ 16,710 | ' |
Analysis_of_Activity_within_th
Analysis of Activity within the Allowance for Doubtful Accounts (Detail) (Allowance for Doubtful Accounts, JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Allowance for Doubtful Accounts | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Valuation allowance at beginning of year | ¥ 1,375 | ¥ 1,002 | ¥ 1,013 |
Provision for doubtful accounts, net of reversal | 366 | 166 | 30 |
Write-offs | -267 | -90 | -30 |
Translation adjustment and other | 119 | 297 | -11 |
Valuation allowance at end of year | ¥ 1,593 | ¥ 1,375 | ¥ 1,002 |
Inventories_Detail
Inventories (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventory [Line Items] | ' | ' |
Finished goods | ¥ 51,293 | ¥ 42,599 |
Raw materials | 39,993 | 30,839 |
Work in process | 28,926 | 23,526 |
Supplies and other | 3,669 | 2,862 |
Inventories | ¥ 123,881 | ¥ 99,826 |
Other_Current_Assets_Detail
Other Current Assets (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items] | ' | ' |
Other receivable | ¥ 13,906 | ¥ 13,740 |
Deferred tax assets (Note 16) | 10,434 | 12,787 |
Costs on uncompleted construction contracts | 9,572 | 5,799 |
Prepaid expenses | 5,225 | 4,079 |
Other | 8,926 | 11,954 |
Other current assets | ¥ 48,063 | ¥ 48,359 |
Recovered_Sheet3
Marketable Securities and Other Securities Investments, Debt and Equity Securities Aggregate Fair Value, Gross Unrealized Gains and Losses and Cost (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Investment Holdings [Line Items] | ' | ' |
Cost | ¥ 8,052 | ¥ 8,544 |
Gross unrealized gains | 6,733 | 5,828 |
Gross unrealized losses | 0 | 8 |
Fair value | 14,785 | 14,364 |
Available-for-sale | Equity securities | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Cost | 7,652 | 7,838 |
Gross unrealized gains | 6,731 | 5,814 |
Gross unrealized losses | 0 | 3 |
Fair value | 14,383 | 13,649 |
Available-for-sale | Debt Securities | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Cost | ' | 405 |
Gross unrealized gains | ' | 11 |
Gross unrealized losses | ' | 5 |
Fair value | ' | 411 |
Held-to-maturity | Japanese government debt securities | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Cost | 400 | 301 |
Gross unrealized gains | 2 | 3 |
Fair value | 402 | 304 |
Fair Value, Estimate Not Practicable, Carrying (Reported) Amount | Equity securities | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Cost | ¥ 1,654 | ¥ 1,539 |
Recovered_Sheet4
Marketable Securities and Other Securities Investments - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Investment Holdings [Line Items] | ' | ' | ' |
Increase (decrease) in net unrealized gain on available-for-sale securities included as a component of accumulated other comprehensive income, net of applicable taxes | ¥ 2,998 | ¥ 174 | ¥ (53) |
Proceeds from sales of available-for-sale securities | 1,059 | 692 | 100 |
Gross realized gains on sales of available-for-sale securities | 242 | 347 | 0 |
Gross realized losses on sales of available-for-sale securities | 12 | 0 | 0 |
Description of Impaired investment securities | 'NIDEC presumes the value of investment securities is impaired if the fair value is below the original cost. Among the impaired investment securities, NIDEC presumes a decline in value of debt and equity securities is other-than-temporary if the fair value is significantly below the original cost for an extended period of time. The presumption of an other-than-temporary impairment may be overcome if there is evidence to support that the decline is temporary in nature due to the existence of other factors which overcome the duration or magnitude of the decline. On the other hand, even if a fair value is not significantly less than the original cost, the value of investment securities is impaired when specific factors indicate the decline in the fair value is other-than-temporary. | ' | ' |
Held-to-maturity securities pledged as collateral for the deferred payments of certain taxes | ¥ 400 | ¥ 301 | ' |
Gross_Unrealized_Losses_on_and
Gross Unrealized Losses on, and Fair Value of Investment Securities, Aggregated by Investment Category and Length of Time that Individual investment Securities have been in a Continuous Unrealized Loss Position (Detail) (JPY ¥) | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months Fair value | ¥ 0 | ¥ 198 |
Less than 12 months Unrealized loss | 0 | 6 |
12 months or more Fair value | 1 | 23 |
12 months or more Unrealized loss | 0 | 2 |
Equity securities | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months Fair value | 0 | 16 |
Less than 12 months Unrealized loss | 0 | 1 |
12 months or more Fair value | 1 | 23 |
12 months or more Unrealized loss | 0 | 2 |
Debt Securities | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Less than 12 months Fair value | ' | 182 |
Less than 12 months Unrealized loss | ' | ¥ 5 |
Other_NonCurrent_Assets_Detail
Other Non-Current Assets (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items] | ' | ' | ||
Intangible assets | ¥ 68,606 | [1] | ¥ 63,989 | [1] |
Deferred tax assets | 1,482 | 7,116 | ||
Other | 7,599 | [2] | 5,810 | [2] |
Other non-current assets | ¥ 77,687 | ¥ 76,915 | ||
[1] | "Intangible assets" information is described in Note 4 "Goodwill and other intangible assets" | |||
[2] | "Other" primarily consists of Long-term prepaid expenses. |
ShortTerm_Borrowings_Detail
Short-Term Borrowings (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | ¥ 22,600 | ¥ 32,798 |
Notes Payable to Banks | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings | ¥ 22,600 | ¥ 32,798 |
ShortTerm_Borrowings_Parenthet
Short-Term Borrowings (Parenthetical) (Detail) (Notes Payable to Banks) | Mar. 31, 2014 | Mar. 31, 2013 |
Notes Payable to Banks | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Short-term borrowings, average interest per annum | 0.31% | 0.21% |
Recovered_Sheet5
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) (JPY ¥) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Apr. 02, 2014 | Sep. 20, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Apr. 02, 2014 | Apr. 02, 2014 |
Subsequent Event | Yen Denominated zero coupon convertible bonds due 2015 | Yen Denominated zero coupon convertible bonds due 2015 | Yen Denominated zero coupon convertible bonds due 2015 | Yen Denominated zero coupon convertible bonds due 2015 | Yen Denominated zero coupon convertible bonds due 2015 | ||
Before stock split | After stock split | ||||||
Subsequent Event | Subsequent Event | ||||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Unused lines of credit | ¥ 228,674 | ' | ' | ' | ' | ' | ' |
Due date | ' | ' | ' | 18-Sep-15 | ' | ' | ' |
Redemption price description | ' | ' | ' | 'redeemable at 100% of principal amount | ' | ' | ' |
Issue date | ' | ' | ' | 21-Sep-10 | ' | ' | ' |
Redemption date | ' | ' | ' | 18-Sep-15 | ' | ' | ' |
Conversion price | ' | ' | ' | ¥ 5,313 | ¥ 5,313 | ¥ 10,626 | ¥ 5,313 |
Number of convertible shares | ' | ' | ' | 18,021,833 | ' | 9,010,916 | 18,021,833 |
Redemption price as percentage of principal amount | ' | ' | ' | 100.00% | ' | ' | ' |
Redemption of corporate bonds | ¥ 4,250 | ' | ¥ 4,250 | ' | ' | ' | ' |
Common stock, stock split | ' | 2 | ' | ' | ' | ' | ' |
LongTerm_Debt_Detail
Long-Term Debt (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term debt | ¥ 77,804 | ¥ 73,925 |
Other long-term debt | 245,991 | 200,347 |
Long-term debt and capital lease obligations | 328,656 | 279,899 |
Less-Bonds current portion due within one year | -100 | -100,247 |
Less-Long-term debt current portion due within one year | -27,478 | -31,841 |
Less-Capital lease obligation current portion due within one year | -1,667 | -1,540 |
Long-term portion | 299,411 | 146,271 |
Long-term debt and capital lease obligations | 328,656 | 279,899 |
Unsecured Debt | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 77,804 | 73,925 |
Yen Denominated zero coupon convertible bonds due 2015 | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 95,891 | 100,247 |
Unsecured Zero Point Three Nine Percent Straight Bonds Due In Twenty Seventeen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Other long-term debt | 65,000 | 65,000 |
Unsecured Zero Point Six Zero Percent Straight Bonds Due In Twenty Nineteen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Other long-term debt | 15,000 | 15,000 |
Unsecured Zero Point Nine Six Percent Straight Bonds Due In Twenty Twenty Two | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Other long-term debt | 20,000 | 20,000 |
Unsecured Zero Point Two One Percent Straight Bonds Due In Twenty Sixteen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Other long-term debt | 50,000 | ' |
Unsecured Zero Point Seven Two Percent Straight Bonds Due In Twenty Fourteen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Other long-term debt | 100 | 100 |
Capital Lease Obligations | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Capital lease obligations | ¥ 4,861 | ¥ 5,627 |
LongTerm_Debt_Parenthetical_De
Long-Term Debt (Parenthetical) (Detail) (JPY ¥) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Yen Denominated zero coupon convertible bonds due 2015 | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2015 | '2015 |
Long-term debt, interest rate | 0.00% | 0.00% |
Long-term debt, conversion price | ¥ 5,313 | ¥ 5,313 |
Unsecured Zero Point Three Nine Percent Straight Bonds Due In Twenty Seventeen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2017 | '2017 |
Long-term debt, interest rate | 0.39% | 0.39% |
Unsecured Zero Point Six Zero Percent Straight Bonds Due In Twenty Nineteen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2019 | '2019 |
Long-term debt, interest rate | 0.60% | 0.60% |
Unsecured Zero Point Nine Six Percent Straight Bonds Due In Twenty Twenty Two | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2022 | '2022 |
Long-term debt, interest rate | 0.96% | 0.96% |
Unsecured Zero Point Two One Percent Straight Bonds Due In Twenty Sixteen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2016 | '2016 |
Long-term debt, interest rate | 0.21% | 0.21% |
Unsecured Zero Point Seven Two Percent Straight Bonds Due In Twenty Fourteen | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2014 | '2014 |
Long-term debt, interest rate | 0.72% | 0.72% |
Minimum | Unsecured Debt | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2014 | '2013 |
Long-term debt, interest rate | 0.00% | 0.00% |
Minimum | Capital Lease Obligations | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2014 | '2013 |
Long-term debt, interest rate | 0.00% | 0.00% |
Maximum | Unsecured Debt | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2026 | '2026 |
Long-term debt, interest rate | 6.80% | 6.40% |
Maximum | Capital Lease Obligations | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt, due date | '2019 | '2019 |
Long-term debt, interest rate | 15.74% | 8.27% |
Detail_of_Zero_Coupon_Converti
Detail of Zero Coupon Convertible Bonds, Due 2015 (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total | ¥ 77,804 | ¥ 73,925 |
Yen Denominated zero coupon convertible bonds due 2015 | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal amount | 95,750 | 100,000 |
Unamortized premium | 141 | 247 |
Total | ¥ 95,891 | ¥ 100,247 |
Aggregate_Amounts_of_Annual_Ma
Aggregate Amounts of Annual Maturity of Long-Term Debt During the Next Five Years (Detail) (JPY ¥) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
2015 | ¥ 29,245 |
2016 | 116,841 |
2017 | 81,153 |
2018 | 66,167 |
2019 | 137 |
2020 and thereafter | ¥ 35,113 |
Other_Current_Liabilities_Deta
Other Current Liabilities (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Other Liabilities [Line Items] | ' | ' |
Accounts payable for property, plant and equipment | ¥ 9,857 | ¥ 10,354 |
Advances received | 7,152 | 6,437 |
Income taxes payable | 4,557 | 4,013 |
Other | 11,576 | 11,628 |
Other current liabilities | ¥ 33,142 | ¥ 32,432 |
Employees_Defined_Benefit_Plan
Employees' Defined Benefit Plans, Japanese plans (Detail) (JPY ¥) | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Change in plan assets: | ' | ' |
Fair value of plan assets at end of year | ¥ 21,544 | ¥ 14,841 |
Japanese plans | ' | ' |
Change in benefit obligation: | ' | ' |
Benefit obligation at beginning of year | 14,079 | 14,255 |
Service cost | 927 | 910 |
Interest cost | 180 | 197 |
Actuarial loss | 196 | 163 |
Acquisition and other | 4,014 | 26 |
Plan amendment | -143 | ' |
Benefits paid | -1,851 | -1,472 |
Defined Benefit Plan, Benefit Obligation | 17,402 | 14,079 |
Change in plan assets: | ' | ' |
Fair value of plan assets at beginning of year | 7,827 | 7,096 |
Actual return on plan assets | 576 | 823 |
Employer contribution | 1,135 | 622 |
Acquisition and other | 2,856 | ' |
Benefits paid | -963 | -714 |
Fair value of plan assets at end of year | 11,431 | 7,827 |
Funded status | ¥ (5,971) | ¥ (6,252) |
Amounts_Included_in_the_Consol
Amounts Included in the Consolidated Balance Sheet, Japanese Plans (Detail) (Japanese plans, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Japanese plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accrued pension and severance costs | ¥ 6,045 | ¥ 6,272 |
Other non-current assets | -74 | -20 |
Net amounts recognized | ¥ 5,971 | ¥ 6,252 |
Amounts_Included_in_Accumulate
Amounts Included in Accumulated Other Comprehensive income (Loss) as Pension Liability Adjustments, Japanese Plans (Detail) (Japanese plans, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Japanese plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Actuarial loss | ¥ (1,562) | ¥ (1,741) |
Prior service credit | 1,393 | 1,407 |
Pension liability adjustments, pre-tax | ¥ (169) | ¥ (334) |
Pension_and_Severance_Plans_Ad
Pension and Severance Plans - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined benefit plans, expected employer contribute for the next fiscal year | ¥ 1,477 | ' | ' |
Multiemployer plans, total amounts of cost recognized for contributions | 156 | ' | ' |
Defined contribution plans, cost recognized for certain subsidiaries' contributions | 2,617 | 1,999 | 1,533 |
Defined contribution plans, expected employer contribution | 2,839 | ' | ' |
NTSC | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Multiemployer plans, total amounts of cost recognized for contributions | 169 | 182 | 252 |
Equity securities | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of investments in securities or other investment vehicles | 2.00% | ' | ' |
Debt Securities | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of investments in securities or other investment vehicles | 4.00% | ' | ' |
Other than Securities Investment | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of investments in securities or other investment vehicles | 94.00% | ' | ' |
Japanese plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accumulated benefit obligations | 17,136 | 13,873 | ' |
Estimated prior service cost (credit) for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into benefits cost | 157 | ' | ' |
Estimated net actuarial gain (loss) for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into benefits cost | 75 | ' | ' |
Foreign plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accumulated benefit obligations | 21,768 | 19,708 | ' |
Estimated net actuarial gain (loss) for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into benefits cost | ¥ 12 | ' | ' |
Projected_Benefit_Obligation_A
Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets, Japanese Plans (Detail) (Japanese plans, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Japanese plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligations | ¥ 12,805 | ¥ 13,924 |
Accumulated benefit obligations | 12,539 | 13,718 |
Fair value of plan assets | ¥ 6,725 | ¥ 7,653 |
WeightedAverage_Assumptions_Us
Weighted-Average Assumptions Used to Determine Benefit Obligations, Japanese Plans (Detail) (Japanese plans) | Mar. 31, 2014 | Mar. 31, 2013 |
Japanese plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 1.20% | 1.30% |
Rate of compensation increase | 4.20% | 2.20% |
Weighted_Average_Assumptions_U
Weighted Average Assumptions Used to Determine Net Pension and Severance Cost Japanese Plans (Detail) (Japanese plans) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Japanese plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 1.30% | 1.60% | 1.60% |
Expected return on plan assets | 2.60% | 2.30% | 2.30% |
Rate of compensation increase | 2.20% | 2.30% | 2.20% |
Components_of_Net_Periodic_Ben
Components of Net Periodic (Benefit) Cost, Japanese Plans (Detail) (Japanese plans, JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Japanese plans | ' | ' | ' |
Components of net periodic (benefit) cost: | ' | ' | ' |
Service cost | ¥ 927 | ¥ 910 | ¥ 983 |
Interest cost | 180 | 197 | 213 |
Expected return on plan assets | -164 | -139 | -134 |
Amortization of net actuarial loss | 92 | 123 | 120 |
Amortization of prior service credit | -157 | -146 | -171 |
Losses from curtailments and settlements | ' | ' | 296 |
Net periodic pension cost | ¥ 878 | ¥ 945 | ¥ 1,307 |
Employees_Defined_Benefit_Plan1
Employees' Defined Benefit Plans, Foreign Plans (Detail) (JPY ¥) | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Change in plan assets: | ' | ' |
Fair value of plan assets at end of year | ¥ 21,544 | ¥ 14,841 |
Foreign plans | ' | ' |
Change in benefit obligation: | ' | ' |
Benefit obligation at beginning of year | 19,966 | 6,119 |
Service cost | 553 | 549 |
Interest cost | 741 | 625 |
Actuarial loss (gain) | -548 | 992 |
Acquisition and other | 131 | 10,171 |
Foreign currency exchange rate changes | 2,155 | 2,297 |
Benefits paid | -1,032 | -787 |
Defined Benefit Plan, Benefit Obligation | 21,966 | 19,966 |
Change in plan assets: | ' | ' |
Fair value of plan assets at beginning of year | 7,014 | 563 |
Actual return on plan assets | 957 | 505 |
Employer contribution | 2,103 | 588 |
Acquisition and other | ' | 4,994 |
Foreign currency exchange rate changes | 714 | 886 |
Benefits paid | -675 | -522 |
Fair value of plan assets at end of year | 10,113 | 7,014 |
Funded status | ¥ (11,853) | ¥ (12,952) |
Amounts_Included_in_the_Consol1
Amounts Included in the Consolidated Balance Sheet, Foreign Plans (Detail) (Foreign plans, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Foreign plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accrued pension and severance costs | ¥ 11,853 | ¥ 12,952 |
Net amounts recognized | ¥ 11,853 | ¥ 12,952 |
Amounts_Included_in_Accumulate1
Amounts Included in Accumulated Other Comprehensive Income (Loss) as Pension Liability Adjustments, Foreign Plans (Detail) (Foreign plans, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Foreign plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Actuarial loss | ¥ 142 | ¥ (952) |
Pension liability adjustments, pre-tax | ¥ 142 | ¥ (952) |
Projected_Benefit_Obligation_A1
Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets, Foreign Plans (Detail) (Foreign plans, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Foreign plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligations | ¥ 21,498 | ¥ 19,966 |
Accumulated benefit obligations | 21,300 | 19,708 |
Fair value of plan assets | ¥ 9,464 | ¥ 7,014 |
WeightedAverage_Assumptions_Us1
Weighted-Average Assumptions Used to Determine Benefit Obligations, Foreign Plans (Detail) (Foreign plans) | Mar. 31, 2014 | Mar. 31, 2013 |
Foreign plans | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Discount rate | 4.40% | 4.40% |
Rate of compensation increase | 3.00% | 3.00% |
WeightedAverage_Assumptions_Us2
Weighted-Average Assumptions Used to Determine Net Pension and Severance Costs, Foreign Plans (Detail) (Foreign plans) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Foreign plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 4.40% | 4.70% | 5.70% |
Expected return on plan assets | 7.50% | 7.50% | 4.40% |
Rate of compensation increase | 3.00% | 3.00% | 2.90% |
Components_of_Net_Periodic_Ben1
Components of Net Periodic (Benefit) Cost, Foreign Plans (Detail) (Foreign plans, JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Foreign plans | ' | ' | ' |
Components of net periodic (benefit) cost: | ' | ' | ' |
Service cost | ¥ 553 | ¥ 549 | ¥ 441 |
Interest cost | 741 | 625 | 230 |
Expected return on plan assets | -443 | -445 | -48 |
Amortization of net actuarial loss (gain) | 27 | 6 | -2 |
Net periodic pension cost | ¥ 878 | ¥ 735 | ¥ 621 |
Fair_Value_of_Pension_Plan_Ass
Fair Value of Pension Plan Assets, by Asset Category (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | ¥ 21,544 | ¥ 14,841 | ||
Cash and cash equivalents | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 1,793 | 1,103 | ||
Life insurance company general | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 4,833 | 3,040 | ||
Pooled Funds | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 11,183 | [1] | 7,431 | [2] |
Others | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 2,464 | 2,070 | ||
Japanese companies Equity Securities | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 281 | 302 | ||
Foreign companies Equity Securities | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 233 | 302 | ||
Debt Securities | Pooled funds | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 757 | [3] | 593 | [4] |
Fair Value Measurements Using Inputs Considered as Level 1 | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 2,307 | 1,707 | ||
Fair Value Measurements Using Inputs Considered as Level 1 | Cash and cash equivalents | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 1,793 | 1,103 | ||
Fair Value Measurements Using Inputs Considered as Level 1 | Japanese companies Equity Securities | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 281 | 302 | ||
Fair Value Measurements Using Inputs Considered as Level 1 | Foreign companies Equity Securities | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 233 | 302 | ||
Fair Value Measurements Using Inputs Considered as Level 2 | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 19,237 | 11,064 | ||
Fair Value Measurements Using Inputs Considered as Level 2 | Life insurance company general | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 4,833 | 3,040 | ||
Fair Value Measurements Using Inputs Considered as Level 2 | Pooled Funds | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 11,183 | [1] | 7,431 | [2] |
Fair Value Measurements Using Inputs Considered as Level 2 | Others | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 2,464 | ' | ||
Fair Value Measurements Using Inputs Considered as Level 2 | Debt Securities | Pooled funds | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | 757 | [3] | 593 | [4] |
Fair Value Measurements Using Inputs Considered as Level 3 | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | ' | 2,070 | ||
Fair Value Measurements Using Inputs Considered as Level 3 | Others | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair values of pension plan assets | ' | ¥ 2,070 | ||
[1] | These funds primarily invest in listed equity securities consisting of approximately 7% Japanese companies and 31% foreign companies, and debt security consisting of approximately 6% Japanese bonds and 37% foreign bonds. | |||
[2] | These funds primarily invest in listed equity securities consisting of approximately 12% Japanese companies and 60% foreign companies, and debt security consisting of approximately 9% Japanese bonds and 16% foreign bonds. | |||
[3] | These funds invest in approximately 68% Japanese bonds, 32% foreign bonds. | |||
[4] | These funds invest in approximately 86% Japanese bonds, 14% foreign bonds. |
Fair_Value_of_Pension_Plan_Ass1
Fair Value of Pension Plan Assets, by Asset Category (Parenthetical) (Detail) | Mar. 31, 2014 | Mar. 31, 2013 |
Japanese companies Equity Securities | Pooled Funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of investments in securities or other investment vehicles | 7.00% | 12.00% |
Foreign companies Equity Securities | Pooled Funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of investments in securities or other investment vehicles | 31.00% | 60.00% |
Japanese bonds | Pooled funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of investments in securities or other investment vehicles | 68.00% | 86.00% |
Japanese bonds | Pooled Funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of investments in securities or other investment vehicles | 6.00% | 9.00% |
Foreign bonds | Pooled funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of investments in securities or other investment vehicles | 32.00% | 14.00% |
Foreign bonds | Pooled Funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Percentage of investments in securities or other investment vehicles | 37.00% | 16.00% |
Changes_in_Fair_Value_of_Plan_
Changes in Fair Value of Plan Assets Categorized as Level Three (Detail) (JPY ¥) | 12 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair value of plan assets at end of year | ¥ 21,544 | ¥ 14,841 | ||
Fair Value Measurements Using Inputs Considered as Level 3 | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Fair value of plan assets at beginning of year | 2,070 | ' | ||
Purchases | ' | 582 | ||
Actual return on plan assets and other | 394 | 329 | ||
Transfers out of level 3 | -2,464 | [1] | ' | |
Fair value of plan assets at end of year | ' | 2,070 | ||
Fair Value Measurements Using Inputs Considered as Level 3 | Minster Machine Company | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ||
Acquisition | ' | ¥ 1,159 | [2] | |
[1] | All the level 3 assets were transferred into level 2 because we got the ability to redeem the level 3 assets at net asset value at the measurement date. | |||
[2] | As a result of the Acquisition of Minster, NIDEC acquired the plan assets categorized as Level 3. |
Future_Benefit_Payments_for_De
Future Benefit Payments for Defined Benefit Plans (Detail) (JPY ¥) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Japanese plans | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | ¥ 811 |
2016 | 932 |
2017 | 886 |
2018 | 892 |
2019 | 1,153 |
Years 2020-2024 | 5,667 |
Foreign plans | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | 1,030 |
2016 | 1,043 |
2017 | 942 |
2018 | 1,122 |
2019 | 1,121 |
Years 2020-2024 | ¥ 5,709 |
Other_LongTerm_Liabilities_Det
Other Long-Term Liabilities (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Other Liabilities [Line Items] | ' | ' | ||
Deferred tax liabilities | ¥ 17,138 | ¥ 14,715 | ||
Unrecognized tax benefits, accrued interest and penalty | 2,321 | [1] | 2,173 | [1] |
Other | 5,785 | 4,329 | ||
Other long-term liabilities | ¥ 25,244 | ¥ 21,217 | ||
[1] | "Unrecognized tax benefits, accrued interest and penalty" information is described in Note 16 "Income taxes" |
Equity_Additional_Information_
Equity - Additional Information (Detail) (JPY ¥) | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | Mar. 31, 2014 | Mar. 31, 2013 | Oct. 31, 2012 | Sep. 30, 2012 | Oct. 31, 2013 | Sep. 30, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
Shares Of Treasury Stock | Shares Of Treasury Stock | Nidec Sankyo | Nidec Sankyo | Nidec Copal | Nidec Copal | Nidec Tosok | Nidec Tosok | Repurchase at Board of Directors Meetings Resolution | Repurchase at Board of Directors Meetings Resolution | |||||
Stockholders Equity Note [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of cash dividends that must be appropriated as a legal reserve | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of dividend payment restriction | ' | ' | ' | 'No further appropriations are required when the sum of the legal reserves reaches 25% of stated capital. These reserves currently exceed 25% of stated capital and are available for dividends under the Company Law subject to approval at the shareholdersb meeting | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of statutory retained earnings of the Company available for dividend payments to shareholders | ¥ 91,137 | ¥ 69,109 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retained earnings, cash dividends | 7,585 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retained earnings, cash dividends per share | ¥ 27.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of treasury stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 10,156,400 |
Purchase of treasury stock, value | 2,838 | 31,277 | 10,155 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,696 | 31,209 |
Treasury stock, shares | 14,343,952 | 20,787,044 | ' | ' | 14,343,952 | 20,311,044 | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury stock, at cost, value | 39,640 | 57,007 | ' | ' | 40,527 | 56,109 | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of additional interests in subsidiaries, shares of common stock held in treasury allocated for the share exchange | ' | ' | ' | ' | ' | ' | 6,350,630 | ' | 4,856,764 | ' | 2,624,000 | ' | ' | ' |
Purchase of additional interests in subsidiaries, percentage owned by parent company | ' | ' | ' | ' | ' | ' | 100.00% | 77.10% | 100.00% | 66.50% | 100.00% | 72.30% | ' | ' |
Description of stock split | 'The Company completed a two-for-one stock split. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retained earnings relating to equity in undistributed earnings of accumulated deficit of equity method investee | ¥ 168 | ¥ 152 | ¥ 190 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) (JPY ¥) | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Beginning balance | ¥ 12,953 |
Other comprehensive income (loss) before reclassifications | 45,558 |
Amounts reclassified from accumulated other comprehensive income (loss) | -135 |
Net change during the current period other comprehensive income (loss) | 45,423 |
Accumulated Other Comprehensive Income (Loss), Ending balance | 58,376 |
Foreign currency translation adjustments | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Beginning balance | 12,636 |
Other comprehensive income (loss) before reclassifications | 41,903 |
Net change during the current period other comprehensive income (loss) | 41,903 |
Accumulated Other Comprehensive Income (Loss), Ending balance | 54,539 |
Unrealized gains (losses) from securities | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Beginning balance | 1,187 |
Other comprehensive income (loss) before reclassifications | 3,145 |
Amounts reclassified from accumulated other comprehensive income (loss) | -147 |
Net change during the current period other comprehensive income (loss) | 2,998 |
Accumulated Other Comprehensive Income (Loss), Ending balance | 4,185 |
Unrealized gains (losses) from derivative instruments | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Beginning balance | 242 |
Other comprehensive income (loss) before reclassifications | -244 |
Amounts reclassified from accumulated other comprehensive income (loss) | -22 |
Net change during the current period other comprehensive income (loss) | -266 |
Accumulated Other Comprehensive Income (Loss), Ending balance | -24 |
Pension liability adjustments | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Accumulated Other Comprehensive Income (Loss), Beginning balance | -1,112 |
Other comprehensive income (loss) before reclassifications | 754 |
Amounts reclassified from accumulated other comprehensive income (loss) | 34 |
Net change during the current period other comprehensive income (loss) | 788 |
Accumulated Other Comprehensive Income (Loss), Ending balance | ¥ (324) |
Reclassification_Out_of_Accumu
Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Detail) (JPY ¥) | 12 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
(Loss) gain on marketable securities, net | ¥ 245 | ¥ (87) | ¥ (202) | |
Cost of products sold, Interest expense. | 674,699 | 572,634 | 523,729 | |
Income taxes | 25,729 | 6,562 | 18,801 | |
Consolidated net income | 58,910 | 6,849 | 44,287 | |
Net (income) loss attributable to noncontrolling interests | 2,506 | -1,137 | 3,556 | |
Net income attributable to Nidec Corporation | 56,404 | 7,986 | 40,731 | |
Reclassification out of Accumulated Other Comprehensive Income | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Net income attributable to Nidec Corporation | -135 | [1] | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) from securities | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
(Loss) gain on marketable securities, net | -230 | [1] | ' | ' |
Income taxes | 83 | [1] | ' | ' |
Consolidated net income | -147 | [1] | ' | ' |
Net income attributable to Nidec Corporation | -147 | [1] | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) from derivative instruments | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Cost of products sold, Interest expense. | -37 | [1] | ' | ' |
Income taxes | 15 | [1] | ' | ' |
Consolidated net income | -22 | [1] | ' | ' |
Net income attributable to Nidec Corporation | -22 | [1] | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income | Pension liability adjustments | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Net periodic pension cost | -38 | [1],[2] | ' | ' |
Income taxes | 22 | [1] | ' | ' |
Consolidated net income | -16 | [1] | ' | ' |
Net (income) loss attributable to noncontrolling interests | 50 | [1] | ' | ' |
Net income attributable to Nidec Corporation | ¥ 34 | [1] | ' | ' |
[1] | Amounts in parentheses indicate gains in consolidated statement of income. | |||
[2] | This accumulated other comprehensive income (loss) component is included in the computation of net periodic pension cost. |
Tax_Effects_Allocated_to_Each_
Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss) and Reclassification Adjustments, Including Amounts Attributable to Noncontrolling Interests (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Foreign currency translation adjustments, Pre-tax | ' | ' | ' |
Foreign currency translation adjustments arising during period, Pre-tax | ¥ 43,429 | ¥ 62,024 | ¥ (2,665) |
Reclassification adjustments for gains and losses realized in net income, Pre-tax | ' | 134 | 105 |
Unrealized gains (losses) from securities, Pre-tax | ' | ' | ' |
Unrealized holding gains (losses) arising during period, Pre-tax | 4,567 | 156 | -358 |
Reclassification adjustments for gains and losses realized in net income, Pre-tax | -230 | 88 | 253 |
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges, Pre-tax | ' | ' | ' |
Unrealized gains (losses) arising during period, Pre-tax | -397 | 93 | -541 |
Reclassification adjustments for gains and losses realized in net income, Pre-tax | -37 | 196 | 291 |
Pension liability adjustment, Pre-tax | ' | ' | ' |
Actuarial gains arising during period, Pre-tax | 1,071 | -328 | -831 |
Prior service credit (cost) arising during period, Pre-tax | 74 | ' | -10 |
Reclassification adjustments for actuarial gains and losses realized in net income, Pre-tax | 119 | 130 | 891 |
Reclassification adjustments for prior service credit and cost realized in net income, Pre-tax | -157 | -152 | 463 |
Other comprehensive income (loss), Pre-tax | 48,439 | 62,341 | -2,402 |
Foreign currency translation adjustments, Tax benefit (expense) | ' | ' | ' |
Foreign currency translation adjustments arising during period, Tax benefit (expense) | ' | ' | ' |
Reclassification adjustments for gains and losses realized in net income, Tax benefit (expense) | ' | ' | ' |
Unrealized gains (losses) from securities, Tax benefit (expense) | ' | ' | ' |
Unrealized holding gains (losses) arising during period, Tax benefit (expense) | -1,440 | -56 | 129 |
Reclassification adjustments for gains and losses realized in net income, Tax benefit (expense) | 83 | -37 | -31 |
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges, Tax benefit (expense) | ' | ' | ' |
Unrealized gains (losses) arising during period, Tax benefit (expense) | 153 | -30 | 216 |
Reclassification adjustments for gains and losses realized in net income, Tax benefit (expense) | 15 | -90 | -112 |
Pension liability adjustment, Tax benefit (expense) | ' | ' | ' |
Actuarial gains arising during period, Tax benefit (expense) | -378 | -93 | 114 |
Prior service credit (cost) arising during period, Tax benefit (expense) | -14 | ' | 4 |
Reclassification adjustments for actuarial gains and losses realized in net income, Tax benefit (expense) | -35 | -45 | -340 |
Reclassification adjustments for prior service credit and cost realized in net income, Tax benefit (expense) | 57 | 55 | -198 |
Other comprehensive income (loss), Tax benefit (expense) | -1,559 | -296 | -218 |
Foreign currency translation adjustments, Net-of-tax | ' | ' | ' |
Foreign currency translation adjustments arising during period, Net-of-tax | 43,429 | 62,024 | -2,665 |
Reclassification adjustments for gains and losses realized in net income, Net-of-tax | ' | 134 | 105 |
Unrealized gains (losses) from securities, Net-of-tax | ' | ' | ' |
Unrealized holding gains (losses) arising during period, Net-of-tax | 3,127 | 100 | -229 |
Reclassification adjustments for gains and losses realized in net income, Net-of-tax | -147 | 51 | 222 |
Unrealized gains (losses) from derivative instruments qualifying for cash flow hedges, Net-of-tax | ' | ' | ' |
Unrealized gains (losses) arising during period, Net-of-tax | -244 | 63 | -325 |
Reclassification adjustments for gains and losses realized in net income, Net-of-tax | -22 | 106 | 179 |
Pension liability adjustment, Net-of-tax | ' | ' | ' |
Actuarial gains arising during period, Net-of-tax | 693 | -421 | -717 |
Prior service credit (cost) arising during period, Net-of-tax | 60 | ' | -6 |
Reclassification adjustments for actuarial gains and losses realized in net income, Net-of-tax | 84 | 85 | 551 |
Reclassification adjustments for prior service credit and cost realized in net income, Net-of-tax | -100 | -97 | 265 |
Other comprehensive income (loss), Net-of-tax | ¥ 46,880 | ¥ 62,045 | ¥ (2,620) |
Components_of_Income_from_Cont
Components of Income from Continuing Operations Before Income Tax (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Schedule of Components of Income Before Income Tax Expense (Benefit) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations before income taxes | ¥ 22,139 | ¥ 24,084 | ¥ 21,075 | ¥ 17,366 | ¥ 84,664 | ¥ 13,398 | ¥ 70,856 |
The Company and domestic subsidiaries | ' | ' | ' | ' | ' | ' | ' |
Schedule of Components of Income Before Income Tax Expense (Benefit) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations before income taxes | ' | ' | ' | ' | 25,463 | -7,473 | 46,181 |
Foreign Subsidiaries | ' | ' | ' | ' | ' | ' | ' |
Schedule of Components of Income Before Income Tax Expense (Benefit) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations before income taxes | ' | ' | ' | ' | ¥ 59,201 | ¥ 20,871 | ¥ 24,675 |
Provision_for_Income_Taxes_Det
Provision for Income Taxes (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Current income tax expense/(benefit): | ' | ' | ' |
The Company and domestic subsidiaries | ¥ 1,872 | ¥ 9,200 | ¥ (4,462) |
Foreign subsidiaries | 10,139 | 5,713 | 6,694 |
Total current | 12,011 | 14,913 | 2,232 |
Deferred income tax expense (benefit): | ' | ' | ' |
The Company and domestic subsidiaries | 12,649 | -5,504 | 16,289 |
Foreign subsidiaries | 1,069 | -2,847 | 280 |
Total deferred | 13,718 | -8,351 | 16,569 |
Total provision | ¥ 25,729 | ¥ 6,562 | ¥ 18,801 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (JPY ¥) | 12 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2011 |
Operating loss carryforwards with no expiration date | Foreign Subsidiaries | Thailand | The Philippines | ||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Statutory income tax rate | 38.00% | 38.00% | 41.00% | ' | ' | ' | ' |
Effective income tax rate, decrease from previous year | -18.60% | ' | ' | ' | -29.00% | ' | ' |
Effective income tax rate | 30.40% | 49.00% | 26.50% | ' | ' | ' | ' |
Tax benefit in foreign subsidiaries | -14.60% | -43.60% | -16.10% | ' | ' | ' | ' |
Income tax incentives and privileges, exemption period | ' | ' | ' | ' | ' | 'For a period of eight years | 'Four years |
Operating loss carryforwards | ¥ 35,843 | ' | ' | ¥ 6,245 | ' | ' | ' |
Operating loss carryforwards, expiration period | 'Expire at various dates primarily up to 9 years | ' | ' | ' | ' | ' | ' |
Undistributed earnings of foreign subsidiaries | 157,931 | ' | ' | ' | ' | ' | ' |
Undistributed earnings of foreign subsidiaries, future estimated additional deferred tax liability | 11,558 | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits that, if recognized, would reduce the effective tax rate | 2,232 | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefit, total gross accrued interest and penalty | ¥ 89 | ¥ 192 | ' | ' | ' | ' | ' |
Reconciliation_of_Differences_
Reconciliation of Differences Between the Statutory Tax Rate and the Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Reconciliation of Statutory Federal Tax Rate [Line Items] | ' | ' | ' |
Statutory tax rate | 38.00% | 38.00% | 41.00% |
Increase (reduction) in taxes resulting from: | ' | ' | ' |
Tax benefit in foreign subsidiaries | -14.60% | -43.60% | -16.10% |
Tax on undistributed earnings | 2.20% | 8.90% | 5.10% |
Valuation allowance | -2.30% | 33.70% | 4.10% |
Liabilities for unrecognized tax benefits | -0.10% | 2.30% | -10.50% |
Reversal of deferred tax assets related to foreign tax credit | 5.30% | ' | ' |
Changes in Japanese income tax rates | 0.30% | ' | 1.40% |
Other | 1.60% | 9.70% | 1.50% |
Effective income tax rate | 30.40% | 49.00% | 26.50% |
Aggregate_Dollar_and_Per_Share
Aggregate Dollar and Per Share Effects of Tax Holidays (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Income Tax Holiday [Line Items] | ' | ' | ' |
Aggregate amounts of tax holidays | ¥ 4,362 | ¥ 2,968 | ¥ 4,023 |
Basic Earnings Per Share | ' | ' | ' |
Income Tax Holiday [Line Items] | ' | ' | ' |
Per Share Effects of tax holidays | ¥ 16.03 | ¥ 11.02 | ¥ 14.63 |
Diluted Earnings Per Share | ' | ' | ' |
Income Tax Holiday [Line Items] | ' | ' | ' |
Per Share Effects of tax holidays | ¥ 15.02 | ¥ 10.3 | ¥ 13.69 |
Significant_Components_of_Defe
Significant Components of Deferred Tax Assets and Liabilities (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Inventories | ¥ 2,818 | ¥ 3,142 |
Marketable securities | ' | 1,102 |
Property, plant and equipment | 5,019 | ' |
Accrued bonus | 2,330 | 2,242 |
Accrued enterprise tax | 221 | ' |
Pension and severance plans | 4,464 | 4,526 |
Operating loss carryforwards for tax purposes | 12,811 | 13,646 |
Foreign tax credit | ' | 5,402 |
Accrued vacation | 1,090 | 1,135 |
Accrued expenses | 1,421 | 3,636 |
Other | 2,666 | 2,613 |
Gross deferred tax assets | 32,840 | 37,444 |
Less-Valuation allowance | -14,561 | -14,492 |
Net deferred tax assets | 18,279 | 22,952 |
Deferred tax liabilities: | ' | ' |
Refund of enterprise taxes | ' | -285 |
Basis difference of acquired assets | -458 | -4,495 |
Property, plant and equipment | ' | -1,058 |
Undistributed earnings not permanently reinvested | -9,311 | -7,856 |
Marketable securities | -321 | ' |
Intangible assets | -9,813 | -4,816 |
Other | -5,181 | -1,083 |
Gross deferred tax liabilities | -25,084 | -19,593 |
Net deferred tax assets | ¥ (6,805) | ¥ 3,359 |
Net_Changes_in_the_Total_Valua
Net Changes in the Total Valuation Allowance for Deferred Tax Assets (Detail) (Valuation Allowance of Deferred Tax Assets, JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Valuation Allowance of Deferred Tax Assets | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' |
Valuation allowance at beginning of year | ¥ (14,492) | ¥ (9,786) | ¥ (6,235) |
Additions | -4,231 | -7,660 | -3,490 |
Deductions | 4,183 | 2,994 | 1,581 |
Impact on newly acquired companies | -21 | -40 | -1,642 |
Valuation allowance at end of year | ¥ (14,561) | ¥ (14,492) | ¥ (9,786) |
Net_Deferred_Tax_Assets_Includ
Net Deferred Tax Assets Included in the Consolidated Balance Sheets (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Other current assets | ¥ 10,434 | ¥ 12,787 |
Other non-current assets | 1,482 | 7,116 |
Deferred tax liabilities: | ' | ' |
Other current liabilities | -1,583 | -1,829 |
Other long-term liabilities | -17,138 | -14,715 |
Net deferred tax assets | ¥ (6,805) | ¥ 3,359 |
Reconciliation_of_the_Beginnin
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Balance at beginning of year | ¥ 2,361 | ¥ 1,766 | ¥ 9,199 |
Additions for tax positions of the current year | 357 | 44 | 1,766 |
Additions for tax positions of prior years | ' | 551 | ' |
Reduction for tax positions of prior years | -486 | ' | ' |
Settlements | ' | ' | -9,199 |
Balance at end of year | ¥ 2,232 | ¥ 2,361 | ¥ 1,766 |
Reconciliation_of_Differences_1
Reconciliation of Differences Between Basic and Diluted Income Attributable to Nidec Corporation Per Share (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, except Share data in Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |||||
Basic net income attributable to Nidec Corporation per share: | ' | ' | ' | ' | ' | ' | ' | |||||
Income from continuing operations attributable to Nidec Corporation | ' | ' | ' | ' | ¥ 56,404 | ¥ 7,986 | ¥ 46,242 | |||||
Loss on discontinued operations attributable to Nidec Corporation | ' | ' | ' | ' | ' | ' | -5,511 | |||||
Net income attributable to Nidec Corporation | 13,351 | 15,950 | 13,757 | 13,346 | 56,404 | 7,986 | 40,731 | |||||
Diluted net income attributable to Nidec Corporation per share: | ' | ' | ' | ' | ' | ' | ' | |||||
Income from continuing operations attributable to Nidec Corporation | ' | ' | ' | ' | 56,340 | 7,925 | 40,676 | |||||
Weighted-average shares, basic: | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted-average shares, basic | ' | ' | ' | ' | 272,078 | 269,429 | 274,981 | |||||
Effect of dilutive securities | ' | ' | ' | ' | ' | ' | ' | |||||
Zero coupon convertible bonds | ' | ' | ' | ' | 18,400 | 18,821 | 18,821 | |||||
Weighted-average shares, diluted: | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted-average shares, diluted | ' | ' | ' | ' | 290,478 | 288,250 | 293,802 | |||||
Basic net income attributable to Nidec Corporation per share | ' | ' | ' | ' | ' | ' | ' | |||||
Income from continuing operations attributable to Nidec Corporation | ' | ' | ' | ' | ¥ 207.31 | ¥ 29.64 | ¥ 168.16 | |||||
Loss on discontinued operations attributable to Nidec Corporation | ' | ' | ' | ' | ' | ' | ¥ (20.04) | |||||
Net income attributable to Nidec Corporation | ¥ 48.41 | [1] | ¥ 57.84 | [1] | ¥ 51.26 | [1] | ¥ 49.73 | [1] | ¥ 207.31 | [1] | ¥ 29.64 | ¥ 148.12 |
Diluted net income attributable to Nidec Corporation per share | ' | ' | ' | ' | ' | ' | ' | |||||
Income from continuing operations attributable to Nidec Corporation | ' | ' | ' | ' | ¥ 193.96 | ¥ 27.49 | ¥ 157.2 | |||||
Loss on discontinued operations attributable to Nidec Corporation | ' | ' | ' | ' | ' | ' | ¥ (18.75) | |||||
Net income attributable to Nidec Corporation | ¥ 45.39 | [1] | ¥ 54.24 | [1] | ¥ 47.85 | [1] | ¥ 46.42 | [1] | ¥ 193.96 | [1] | ¥ 27.49 | ¥ 138.45 |
Segment, Continuing Operations | ' | ' | ' | ' | ' | ' | ' | |||||
Diluted net income attributable to Nidec Corporation per share: | ' | ' | ' | ' | ' | ' | ' | |||||
Income from continuing operations attributable to Nidec Corporation | ' | ' | ' | ' | ' | ' | 46,187 | |||||
Weighted-average shares, basic: | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted-average shares, basic | ' | ' | ' | ' | ' | ' | 274,981 | |||||
Weighted-average shares, diluted: | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted-average shares, diluted | ' | ' | ' | ' | ' | ' | 293,802 | |||||
Segment, Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | |||||
Diluted net income attributable to Nidec Corporation per share: | ' | ' | ' | ' | ' | ' | ' | |||||
Income from continuing operations attributable to Nidec Corporation | ' | ' | ' | ' | ' | ' | -5,511 | |||||
Weighted-average shares, basic: | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted-average shares, basic | ' | ' | ' | ' | ' | ' | 274,981 | |||||
Weighted-average shares, diluted: | ' | ' | ' | ' | ' | ' | ' | |||||
Weighted-average shares, diluted | ' | ' | ' | ' | ' | ' | 293,802 | |||||
Yen Denominated zero coupon convertible bonds due 2015 | ' | ' | ' | ' | ' | ' | ' | |||||
Effect of dilutive securities: | ' | ' | ' | ' | ' | ' | ' | |||||
Zero coupon convertible bonds | ' | ' | ' | ' | ¥ (64) | ¥ (61) | ¥ (55) | |||||
[1] | Earnings-per-share amounts for each quarter are computed independently. As a result, their sum may not equal the total year earnings-per-share amounts. |
Recovered_Sheet6
Reconciliation of the Differences Between Basic and Diluted Earnings Per Share - Additional Information (Detail) (Subsequent Event) | 0 Months Ended |
Apr. 02, 2014 | |
Subsequent Event | ' |
Earnings Per Share Note [Line Items] | ' |
Common stock, stock split | 2 |
Contracted_Amounts_Outstanding
Contracted Amounts Outstanding of Derivative Instruments (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Designated as Hedging Instrument | Foreign exchange forward contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Contractual amounts | ¥ 9,736 | ¥ 7,403 |
Designated as Hedging Instrument | Interest rate swap agreement | ' | ' |
Derivative [Line Items] | ' | ' |
Contractual amounts | 20,587 | 32,205 |
Designated as Hedging Instrument | Commodity futures | ' | ' |
Derivative [Line Items] | ' | ' |
Contractual amounts | 4,610 | 3,739 |
Not Designated as Hedging Instrument | Foreign exchange forward contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Contractual amounts | 1,800 | 149 |
Not Designated as Hedging Instrument | Currency option contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Contractual amounts | ¥ 53 | ¥ 231 |
Fair_Value_of_Derivative_Instr
Fair Value of Derivative Instruments (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Designated as Hedging Instrument | Foreign exchange forward contracts | Other current assets | ' | ' |
Derivative [Line Items] | ' | ' |
Asset Derivatives | ¥ 271 | ¥ 659 |
Designated as Hedging Instrument | Foreign exchange forward contracts | Other current liabilities | ' | ' |
Derivative [Line Items] | ' | ' |
Liability Derivatives | 1 | 22 |
Designated as Hedging Instrument | Commodity futures | Other current liabilities | ' | ' |
Derivative [Line Items] | ' | ' |
Liability Derivatives | 239 | 181 |
Designated as Hedging Instrument | Interest rate swap agreement | Other current liabilities | ' | ' |
Derivative [Line Items] | ' | ' |
Liability Derivatives | 31 | 20 |
Not Designated as Hedging Instrument | Foreign exchange forward contracts | Other current assets | ' | ' |
Derivative [Line Items] | ' | ' |
Asset Derivatives | 4 | 16 |
Not Designated as Hedging Instrument | Currency option contracts | Other current assets | ' | ' |
Derivative [Line Items] | ' | ' |
Asset Derivatives | ¥ 7 | ¥ 10 |
Effect_of_Derivative_Instrumen
Effect of Derivative Instruments on the Consolidated Statements of Income (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Designated as Hedging Instrument | Foreign exchange forward contracts | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in accumulated other comprehensive income | ¥ (229) | ¥ 277 | ¥ (68) |
Designated as Hedging Instrument | Foreign exchange forward contracts | Cost of Sales | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) | 241 | 81 | 17 |
Designated as Hedging Instrument | Interest Rate Swap | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in accumulated other comprehensive income | -5 | -6 | ' |
Designated as Hedging Instrument | Commodity futures | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in accumulated other comprehensive income | -32 | -102 | -78 |
Designated as Hedging Instrument | Commodity futures | Cost of Sales | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) | -212 | -183 | -196 |
Designated as Hedging Instrument | Interest rate swap agreement | Interest Expense | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) | -7 | -4 | ' |
Not Designated as Hedging Instrument | Foreign exchange forward contracts | Foreign Exchange | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in income | 23 | 22 | ' |
Not Designated as Hedging Instrument | Currency option contracts | Foreign Exchange | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in income | 18 | 40 | ' |
Not Designated as Hedging Instrument | Interest rate swap agreement | Other Income | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Gains (losses) recognized in income | ' | ' | ¥ 2 |
Derivatives_Additional_Informa
Derivatives - Additional Information (Detail) (JPY ¥) | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Derivative [Line Items] | ' |
Net loss in accumulated other comprehensive income expected to be reclassified into earnings within the next 12 months | ¥ (27) |
The maximum length of time over which NIDEC hedged its exposure to variability in future cash flows for forecasted transactions | '23 years |
Assets_and_Liabilities_that_ar
Assets and Liabilities that are Measured at Fair Value on a Recurring Basis (Detail) (Fair Value, Measurements, Recurring, JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Assets: | ' | ' |
Marketable securities | ¥ 14,383 | ¥ 14,060 |
Derivatives | 282 | 685 |
Total assets: | 14,665 | 14,745 |
Liabilities: | ' | ' |
Derivatives | 271 | 223 |
Fair Value Measurements Using Inputs Considered as Level 1 | ' | ' |
Assets: | ' | ' |
Marketable securities | 14,383 | 13,649 |
Total assets: | 14,383 | 13,649 |
Liabilities: | ' | ' |
Derivatives | 239 | 181 |
Fair Value Measurements Using Inputs Considered as Level 2 | ' | ' |
Assets: | ' | ' |
Marketable securities | ' | 411 |
Derivatives | 282 | 685 |
Total assets: | 282 | 1,096 |
Liabilities: | ' | ' |
Derivatives | ¥ 32 | ¥ 42 |
Carrying_Amount_and_Estimated_
Carrying Amount and Estimated Fair Values of Financial Instruments (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 |
In Millions, unless otherwise specified | ||||
Carrying amount of Asset (Liability) | ' | ' | ' | ' |
Cash and cash equivalents | ¥ 247,740 | ¥ 193,420 | ¥ 130,290 | ¥ 94,321 |
Short-term investments | 2,344 | 1,552 | ' | ' |
Long-term investments | 83 | ' | ' | ' |
Short-term loan receivable | 157 | 132 | ' | ' |
Long-term loan receivable | 48 | 89 | ' | ' |
Short-term borrowings | -22,600 | -32,798 | ' | ' |
Long-term debt including the current portion and excluding capital lease obligation and bonds | -77,804 | -73,925 | ' | ' |
Bonds including the current portion | -245,991 | -200,347 | ' | ' |
Estimated fair value Asset (Liability) | ' | ' | ' | ' |
Cash and cash equivalents | 247,740 | 193,420 | ' | ' |
Short-term investments | 2,344 | 1,552 | ' | ' |
Long-term investments | 82 | ' | ' | ' |
Short-term borrowings | -22,600 | -32,798 | ' | ' |
Long-term debt including the current portion and excluding capital lease obligation and bonds | -77,486 | -73,907 | ' | ' |
Bonds including the current portion | -271,853 | -200,850 | ' | ' |
Short-term loan receivable | ' | ' | ' | ' |
Estimated fair value Asset (Liability) | ' | ' | ' | ' |
Loan receivable | 157 | 132 | ' | ' |
Long-term loan receivable | ' | ' | ' | ' |
Estimated fair value Asset (Liability) | ' | ' | ' | ' |
Loan receivable | ¥ 50 | ¥ 91 | ' | ' |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) | 1 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Mar. 31, 2014 | |
Nidec Sankyo | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Share exchange transaction, shares of common stock held in treasury allocated for the share exchange | ' | 6,350,630 | ' |
Nidec Copal | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Share exchange transaction, shares of common stock held in treasury allocated for the share exchange | 4,856,764 | ' | ' |
Nidec Tosok | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Share exchange transaction, shares of common stock held in treasury allocated for the share exchange | 2,624,000 | ' | ' |
Chief Executive Officer | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Percentage of the outstanding shares of the Company owned by a related party | ' | ' | 9.10% |
Share exchange transaction, shares of common stock held in treasury allocated for the share exchange | 589,992 | 306,272 | ' |
Chief Executive Officer | Nidec Tosok | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Share exchange transaction, shares of common stock held in treasury allocated for the share exchange | 322,400 | ' | ' |
Variable Interest Entity, Not Primary Beneficiary | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Percentage of the outstanding shares of the Company owned by a related party | ' | ' | 4.00% |
Immediate Family Member of Management or Principal Owner | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Percentage of the outstanding shares of the Company owned by a related party | ' | ' | 1.90% |
NTSC | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Share exchange transaction, shares of common stock held in treasury allocated for the share exchange | 49,600 | ' | ' |
Leased_Assets_Under_Capital_Le
Leased Assets Under Capital Leases (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Class of property | ' | ' |
Other leased assets | ¥ 109 | ¥ 65 |
Less-Accumulated amortization | -2,511 | -1,345 |
Capital Leases, Balance Sheet, Assets by Major Class, Net | 4,934 | 5,670 |
Machinery and Equipment | ' | ' |
Class of property | ' | ' |
Machinery and equipment | ¥ 7,336 | ¥ 6,950 |
Lease_Commitments_Additional_I
Lease Commitments - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Leases Disclosure [Line Items] | ' | ' | ' |
Amortization expenses under capital leases | ¥ 1,305 | ¥ 524 | ¥ 835 |
Rental expenses under operating leases | 2,586 | 2,719 | 1,526 |
Rental revenues under operating leases | ¥ 175 | ¥ 412 | ¥ 373 |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments Under Capital Leases Together with Present Value of Net Minimum Lease Payments (Detail) (JPY ¥) | Mar. 31, 2014 | Mar. 31, 2013 |
In Millions, unless otherwise specified | ||
Leases Disclosure [Line Items] | ' | ' |
2015 | ¥ 1,810 | ' |
2016 | 2,019 | ' |
2017 | 658 | ' |
2018 | 563 | ' |
2019 | 114 | ' |
2020 and thereafter | 9 | ' |
Total minimum lease payments | 5,173 | ' |
Less-Amount representing interest | -312 | ' |
Present value of net minimum lease payments | 4,861 | ' |
Less-Current obligations | -1,667 | -1,540 |
Long-term capital lease obligations | ¥ 3,194 | ' |
Minimum_Rental_Payments_Requir
Minimum Rental Payments Required Under Operating Leases Relating Primarily to Land, Buildings and Equipment Having Initial or Remaining Non-Cancelable Lease Terms in Excess of One Year (Detail) (Noncancelable Lease Obligations, JPY ¥) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Noncancelable Lease Obligations | ' |
Leases Disclosure [Line Items] | ' |
2015 | ¥ 2,319 |
2016 | 1,757 |
2017 | 1,197 |
2018 | 996 |
2019 | 965 |
2020 and thereafter | 1,941 |
Total minimum future rentals | ¥ 9,175 |
Future_Minimum_Lease_Payments_1
Future Minimum Lease Payments to be Received Under Operating Leases that have Remaining Non-Cancelable Terms (Detail) (Non Cancelable Lease Receivable, JPY ¥) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Non Cancelable Lease Receivable | ' |
Leases Disclosure [Line Items] | ' |
2015 | ¥ 31 |
2016 | 25 |
2017 | 25 |
2018 | 26 |
2019 | 26 |
2020 and thereafter | 91 |
Total minimum future rentals | ¥ 224 |
Flooding_in_Thailand_Additiona
Flooding in Thailand - Additional Information (Detail) (JPY ¥) | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 |
Unusual or Infrequent Item [Line Items] | ' | ' |
Net gain recognized as a result of excess insurance recovery over the flooding loss in Thailand | ¥ 4,027 | ¥ 5,932 |
Thailand | ' | ' |
Unusual or Infrequent Item [Line Items] | ' | ' |
Recognized loss due to flooding | ' | 17,269 |
Thailand | Property Plant and Equipment | ' | ' |
Unusual or Infrequent Item [Line Items] | ' | ' |
Recognized loss due to flooding | ' | 13,730 |
Thailand | Inventories | ' | ' |
Unusual or Infrequent Item [Line Items] | ' | ' |
Recognized loss due to flooding | ' | ¥ 3,539 |
Recovered_Sheet7
Other Commitments and Contingencies, Concentrations and Factors that May Affect Future Operations - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Commitments for the purchase of property, plant and equipment and other assets | 2,425 | ' | ' |
Guarantee of employees bank loans, amount | 60 | ' | ' |
Guarantee of employees bank loans, maximum undiscounted amount of obligation to make future payments in the event of defaults | 60 | ' | ' |
Guarantee of employees bank loans, current carrying amount | 0 | ' | ' |
Accounts receivable concentration of credit risk, amount | 17,706 | 19,534 | ' |
ASI | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Contingent liabilities assumed in connection with acquisition | 6,967 | ' | ' |
Customer Concentration Risk | Two Largest Customers | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Concentration of risk percentage | 17.00% | 20.00% | 22.00% |
Customer Concentration Risk | Largest Customer | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Concentration of risk percentage | 9.00% | 11.00% | 12.00% |
Credit Concentration Risk | ' | ' | ' |
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' |
Concentration of risk percentage | 10.00% | 13.00% | ' |
Changes_in_Product_Warranty_Li
Changes in Product Warranty Liabilities (Detail) (JPY ¥) | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Product Liability Contingency [Line Items] | ' | ' |
Balance at beginning of year | ¥ 2,201 | ¥ 971 |
Addition | 2,021 | 1,626 |
Utilization | -1,080 | -664 |
Foreign exchange impact | -106 | 268 |
Balance at end of year | ¥ 3,036 | ¥ 2,201 |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Total exit costs, pre-tax | ' | ' | ¥ 5,800 |
Total exit costs, net of tax | ' | ' | 4,412 |
Goodwill impairment loss | ' | ' | ¥ 2,045 |
Operating_Results_of_Discontin
Operating Results of Discontinued Operations (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net sales | ¥ 228,384 | ¥ 217,091 | ¥ 218,358 | ¥ 211,276 | ¥ 875,109 | ¥ 709,270 | ¥ 682,320 |
Loss on discontinued operations before income taxes | ' | ' | ' | ' | ' | ' | -7,796 |
Income taxes | ' | ' | ' | ' | ' | ' | 28 |
Loss on discontinued operations | ' | ' | ' | ' | ' | ' | -7,768 |
Segment, Discontinued Operations | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | 5,615 |
Lens Actuator Business | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Loss on discontinued operations before income taxes | ' | ' | ' | ' | ' | ' | -2,203 |
Income taxes | ' | ' | ' | ' | ' | ' | -269 |
Loss on discontinued operations | ' | ' | ' | ' | ' | ' | -2,472 |
Lens Actuator Business | Segment, Discontinued Operations | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | 1,576 |
Nidec Pegion Business | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Loss on discontinued operations before income taxes | ' | ' | ' | ' | ' | ' | -1,817 |
Income taxes | ' | ' | ' | ' | ' | ' | 129 |
Loss on discontinued operations | ' | ' | ' | ' | ' | ' | -1,688 |
Nidec Pegion Business | Segment, Discontinued Operations | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | 1,365 |
Compact Digital Camera Lens Unit Business | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Loss on discontinued operations before income taxes | ' | ' | ' | ' | ' | ' | -3,776 |
Income taxes | ' | ' | ' | ' | ' | ' | 168 |
Loss on discontinued operations | ' | ' | ' | ' | ' | ' | -3,608 |
Compact Digital Camera Lens Unit Business | Segment, Discontinued Operations | ' | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ¥ 2,674 |
Product_Information_Detail
Product Information (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ¥ 228,384 | ¥ 217,091 | ¥ 218,358 | ¥ 211,276 | ¥ 875,109 | ¥ 709,270 | ¥ 682,320 |
Small Precision Motors | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 362,513 | 319,724 | 331,437 |
Small Precision Motors | Hard Disk Drives Spindle Motors | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 185,506 | 165,427 | 176,932 |
Small Precision Motors | Other Small Precision Motors | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 177,007 | 154,297 | 154,505 |
Automotive, Appliance, Commercial and Industrial Products | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 345,236 | 248,464 | 208,529 |
Machinery | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 86,955 | 63,526 | 64,904 |
Electronic and Optical Components | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 72,845 | 69,188 | 69,377 |
Others | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ¥ 7,560 | ¥ 8,368 | ¥ 8,073 |
Revenues_from_External_Custome
Revenues from External Customers and Long-Lived Assets (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ¥ 228,384 | ¥ 217,091 | ¥ 218,358 | ¥ 211,276 | ¥ 875,109 | ¥ 709,270 | ¥ 682,320 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 298,881 | ' | ' | ' | 298,881 | 277,977 | ' |
Japan | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 238,278 | 213,169 | 260,470 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 96,239 | ' | ' | ' | 96,239 | 86,612 | ' |
U.S.A. | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 132,117 | 99,260 | 71,317 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 23,046 | ' | ' | ' | 23,046 | 21,047 | ' |
Singapore | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 63,950 | 55,712 | 40,595 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 1,337 | ' | ' | ' | 1,337 | 1,899 | ' |
Thailand | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 85,435 | 81,678 | 75,908 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 37,925 | ' | ' | ' | 37,925 | 42,418 | ' |
The Philippines | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 24,506 | 18,543 | 19,683 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 12,904 | ' | ' | ' | 12,904 | 11,838 | ' |
China | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 197,134 | 150,631 | 148,553 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | 65,007 | ' | ' | ' | 65,007 | 56,756 | ' |
Other | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | 133,689 | 90,277 | 65,794 |
Long-lived assets: | ' | ' | ' | ' | ' | ' | ' |
Long-lived assets | ¥ 62,423 | ' | ' | ' | ¥ 62,423 | ¥ 57,407 | ' |
Net_Sales_to_External_Customer
Net Sales to External Customers and Other Financial Information by Operating Segments (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ¥ 228,384 | ¥ 217,091 | ¥ 218,358 | ¥ 211,276 | ¥ 875,109 | ¥ 709,270 | ¥ 682,320 | ||||
Operating income | ' | ' | ' | ' | 85,068 | 17,598 | 73,070 | ||||
Depreciation | ' | ' | ' | ' | 39,485 | 34,935 | 31,511 | ||||
Total assets | 1,165,918 | ' | ' | ' | 1,165,918 | 1,005,417 | ' | ||||
Identifiable intangible assets and other fair value adjustments | 11,626 | ' | ' | ' | 11,626 | 12,502 | ' | ||||
Goodwill | 154,927 | ' | ' | ' | 154,927 | 132,775 | 80,525 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 40,297 | 61,368 | 41,446 | ||||
NCJ | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 1,884 | 1,991 | ' | ||||
Nidec Electronics (Thailand) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 7,645 | ' | ' | ' | 7,645 | 6,994 | 6,109 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 1,232 | 14,588 | ' | ||||
Nidec (Zhejiang) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 1,142 | ' | ' | ' | 1,142 | 1,044 | 912 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 712 | 710 | ' | ||||
NIDC (formerly NCD) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 972 | 2,372 | ' | ||||
NILS (formerly NCS) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 9 | 417 | ' | ||||
NIHC (formerly NCH) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 6 | 5 | ' | ||||
NILF (formerly NCF) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 3,368 | 1,876 | ' | ||||
Nidec Sankyo | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 29,533 | ' | ' | ' | 29,533 | 27,312 | 26,100 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 3,712 | 4,777 | ' | ||||
Nidec Copal | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 16,462 | ' | ' | ' | 16,462 | 16,462 | 16,462 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 2,427 | 9,539 | ' | ||||
Nidec Tosok | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 1,038 | ' | ' | ' | 1,038 | 1,038 | 1,107 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 9,432 | 5,814 | ' | ||||
Nidec Copal Electronics | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 6,561 | ' | ' | ' | 6,561 | 6,561 | 6,561 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 826 | 984 | ' | ||||
Nidec Techno Motor | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 2,049 | ' | ' | ' | 2,049 | 2,049 | 2,049 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 3,549 | 5,144 | ' | ||||
Nidec Motor | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 63,078 | ' | ' | ' | 63,078 | 55,008 | 11,984 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 4,134 | 3,594 | ' | ||||
Nidec Motors & Actuators | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 7,318 | ' | ' | ' | 7,318 | 6,385 | 4,737 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 3,019 | 1,845 | ' | ||||
All others | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 20,101 | ' | ' | ' | 20,101 | 9,922 | 4,504 | ||||
Additions to property, plant and equipment | ' | ' | ' | ' | 5,015 | 7,712 | ' | ||||
Operating Segments | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 874,232 | 709,367 | 681,362 | ||||
Operating income | ' | ' | ' | ' | 82,880 | 33,574 | 74,829 | ||||
Depreciation | ' | ' | ' | ' | 44,406 | 38,422 | 32,530 | ||||
Total assets | 1,683,334 | ' | ' | ' | 1,683,334 | 1,447,588 | ' | ||||
Operating Segments | NCJ | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 27,599 | 23,748 | 46,901 | ||||
Operating income | ' | ' | ' | ' | 4,865 | -4,856 | 7,497 | ||||
Depreciation | ' | ' | ' | ' | 921 | 917 | 995 | ||||
Total assets | 628,338 | ' | ' | ' | 628,338 | 565,451 | ' | ||||
Operating Segments | Nidec Electronics (Thailand) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 67,623 | 63,349 | 64,226 | ||||
Operating income | ' | ' | ' | ' | 12,781 | 10,525 | 15,027 | ||||
Depreciation | ' | ' | ' | ' | 5,502 | 5,572 | 5,085 | ||||
Total assets | 116,476 | ' | ' | ' | 116,476 | 91,784 | ' | ||||
Operating Segments | Nidec (Zhejiang) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 18,017 | 21,109 | 26,430 | ||||
Operating income | ' | ' | ' | ' | -243 | -2,689 | 774 | ||||
Depreciation | ' | ' | ' | ' | 618 | 1,196 | 1,231 | ||||
Total assets | 12,112 | ' | ' | ' | 12,112 | 13,897 | ' | ||||
Operating Segments | NIDC (formerly NCD) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 1,940 | 3,648 | 4,269 | ||||
Operating income | ' | ' | ' | ' | 475 | -409 | 431 | ||||
Depreciation | ' | ' | ' | ' | 359 | 914 | 802 | ||||
Total assets | 20,763 | ' | ' | ' | 20,763 | 24,159 | ' | ||||
Operating Segments | NILS (formerly NCS) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 57,893 | 50,039 | 34,220 | ||||
Operating income | ' | ' | ' | ' | 709 | 1,115 | 781 | ||||
Depreciation | ' | ' | ' | ' | 197 | 133 | 70 | ||||
Total assets | 27,689 | ' | ' | ' | 27,689 | 21,590 | ' | ||||
Operating Segments | NIHC (formerly NCH) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 69,890 | 52,028 | 50,748 | ||||
Operating income | ' | ' | ' | ' | 483 | 146 | 359 | ||||
Depreciation | ' | ' | ' | ' | 6 | 7 | 6 | ||||
Total assets | 22,458 | ' | ' | ' | 22,458 | 15,678 | ' | ||||
Operating Segments | NILF (formerly NCF) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 19,573 | 14,707 | 15,326 | ||||
Operating income | ' | ' | ' | ' | 6,037 | 4,883 | 7,799 | ||||
Depreciation | ' | ' | ' | ' | 2,732 | 2,750 | 2,598 | ||||
Total assets | 49,569 | ' | ' | ' | 49,569 | 37,084 | ' | ||||
Operating Segments | Nidec Sankyo | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 98,564 | 73,201 | 78,589 | ||||
Operating income | ' | ' | ' | ' | 10,392 | 4,181 | 7,414 | ||||
Depreciation | ' | ' | ' | ' | 4,102 | 3,773 | 3,715 | ||||
Total assets | 125,929 | ' | ' | ' | 125,929 | 107,393 | ' | ||||
Operating Segments | Nidec Copal | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 47,023 | 49,627 | 51,124 | ||||
Operating income | ' | ' | ' | ' | -1,323 | -3,192 | 6,384 | ||||
Depreciation | ' | ' | ' | ' | 4,444 | 3,806 | 3,115 | ||||
Total assets | 55,166 | ' | ' | ' | 55,166 | 62,376 | ' | ||||
Operating Segments | Nidec Tosok | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 36,854 | 31,090 | 33,358 | ||||
Operating income | ' | ' | ' | ' | 3,186 | 1,715 | 3,140 | ||||
Depreciation | ' | ' | ' | ' | 3,775 | 2,930 | 2,660 | ||||
Total assets | 50,221 | ' | ' | ' | 50,221 | 43,566 | ' | ||||
Operating Segments | Nidec Copal Electronics | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 31,295 | 26,845 | 29,098 | ||||
Operating income | ' | ' | ' | ' | 5,288 | 3,277 | 4,194 | ||||
Depreciation | ' | ' | ' | ' | 1,283 | 1,318 | 1,150 | ||||
Total assets | 42,115 | ' | ' | ' | 42,115 | 38,684 | ' | ||||
Operating Segments | Nidec Techno Motor | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 50,691 | 39,940 | 40,058 | ||||
Operating income | ' | ' | ' | ' | 6,671 | 4,168 | 4,591 | ||||
Depreciation | ' | ' | ' | ' | 2,573 | 1,890 | 1,491 | ||||
Total assets | 49,703 | ' | ' | ' | 49,703 | 42,508 | ' | ||||
Operating Segments | Nidec Motor | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 175,854 | 119,093 | 83,999 | ||||
Operating income | ' | ' | ' | ' | 9,314 | 723 | 2,111 | ||||
Depreciation | ' | ' | ' | ' | 9,171 | 6,481 | 3,892 | ||||
Total assets | 197,315 | ' | ' | ' | 197,315 | 178,429 | ' | ||||
Operating Segments | Nidec Motors & Actuators | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 64,420 | 44,707 | 44,748 | ||||
Operating income | ' | ' | ' | ' | 5,334 | 3,447 | 3,126 | ||||
Depreciation | ' | ' | ' | ' | 2,186 | 1,470 | 1,423 | ||||
Total assets | 68,405 | ' | ' | ' | 68,405 | 46,601 | ' | ||||
Operating Segments | All others | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 106,996 | 96,236 | 78,268 | ||||
Operating income | ' | ' | ' | ' | 18,911 | 10,540 | 11,201 | ||||
Depreciation | ' | ' | ' | ' | 6,537 | 5,265 | 4,297 | ||||
Total assets | 217,075 | ' | ' | ' | 217,075 | 158,388 | ' | ||||
Unallocated Amount to Segment | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 877 | [1] | -97 | [1] | 958 | [1] | |
Operating income | ' | ' | ' | ' | 2,055 | [2] | -17,606 | [2] | -3,072 | [2] | |
U.S. GAAP adjustments and Others | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Operating income | ' | ' | ' | ' | -1,133 | [3] | -537 | [3] | -1,476 | [3] | |
Depreciation | ' | ' | ' | ' | -4,921 | [4],[5] | -3,487 | [4],[5] | -1,019 | [4],[5] | |
Total assets | -57,147 | [6] | ' | ' | ' | -57,147 | [6] | -7,682 | [6] | ' | |
Business Intersegment, Eliminations | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 329,435 | 262,897 | 250,335 | ||||
Operating income | ' | ' | ' | ' | 1,266 | 2,167 | 2,789 | ||||
Total assets | -626,822 | ' | ' | ' | -626,822 | -579,766 | ' | ||||
Business Intersegment, Eliminations | NCJ | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 138,354 | 108,282 | 100,064 | ||||
Business Intersegment, Eliminations | Nidec Electronics (Thailand) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 43,982 | 35,492 | 36,649 | ||||
Business Intersegment, Eliminations | Nidec (Zhejiang) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 5,011 | 2,977 | 3,617 | ||||
Business Intersegment, Eliminations | NIDC (formerly NCD) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 10,559 | 11,117 | 15,471 | ||||
Business Intersegment, Eliminations | NILS (formerly NCS) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 749 | 709 | 448 | ||||
Business Intersegment, Eliminations | NIHC (formerly NCH) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 1,339 | 1,734 | 1,162 | ||||
Business Intersegment, Eliminations | NILF (formerly NCF) | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 29,266 | 25,682 | 24,390 | ||||
Business Intersegment, Eliminations | Nidec Sankyo | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 312 | 300 | 396 | ||||
Business Intersegment, Eliminations | Nidec Copal | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 2,318 | 2,093 | 2,318 | ||||
Business Intersegment, Eliminations | Nidec Tosok | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 171 | 190 | 150 | ||||
Business Intersegment, Eliminations | Nidec Copal Electronics | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 11 | 20 | 20 | ||||
Business Intersegment, Eliminations | Nidec Techno Motor | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 4,041 | 3,143 | 952 | ||||
Business Intersegment, Eliminations | Nidec Motor | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 80 | 154 | 30 | ||||
Business Intersegment, Eliminations | Nidec Motors & Actuators | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | 20,213 | 15,170 | 11,607 | ||||
Business Intersegment, Eliminations | All others | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Net sales | ' | ' | ' | ' | ¥ 73,029 | ¥ 55,834 | ¥ 53,061 | ||||
[1] | US GAAP adjustments primarily relate to the difference between recognition of revenue at the time of shipment and at the time of customer receipt. | ||||||||||
[2] | Some items are reclassified from other expenses (income) and included in operating expenses (income). Main reclassification is income or loss from sales or disposals of fixed assets for the year ended March 31, 2012, 2013 and 2014. | ||||||||||
[3] | Others is mainly from the amortization of identifiable intangible assets related to business combinations for the years ended March 31, 2012, 2013 and 2014. | ||||||||||
[4] | Some leased assets are not capitalized in the operating segments but are capitalized under U.S. GAAP. | ||||||||||
[5] | The amount of each segment includes amortization of intangible assets. Others mainly represent adjustments to exclude the amortization of intangible assets in order to reconcile amounts to consolidated total of depreciation in consolidated statements of cash flows. | ||||||||||
[6] | Others is mainly due to the reclassification of deferred tax assets and liabilities on consolidation. |
Segment_Information_Additional
Segment Information - Additional Information (Detail) (JPY ¥) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Customer | Customer | Customer | |
Segment Reporting Disclosure [Line Items] | ' | ' | ' |
Number of major customers | 0 | 1 | 2 |
Major Customer | ' | ' | ' |
Segment Reporting Disclosure [Line Items] | ' | ' | ' |
Sales to customers which exceeded 10% of the consolidated net sales | 0 | 74,897 | 151,253 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (JPY ¥) | 12 Months Ended | 0 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Apr. 02, 2014 | Apr. 22, 2014 | Apr. 22, 2014 |
Subsequent Event | Subsequent Event | Subsequent Event | ||
Nidec Copal Electronics | Nidec-Read | |||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Cash dividend declared | ¥ 7,585 | ¥ 7,585 | ' | ' |
Cash dividend declared, payable date | 3-Jun-14 | ' | ' | ' |
Cash dividend declared, record date | 31-Mar-14 | ' | ' | ' |
Share exchange ratio | ' | ' | 0.138 | 0.243 |
Number of shares allocated for share exchange | ' | ' | 3,160,584 | 1,421,513 |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) (Detail) (JPY ¥) | 3 Months Ended | 12 Months Ended | ||||||||||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |||||
Quarterly Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | |||||
Net sales | ¥ 228,384 | ¥ 217,091 | ¥ 218,358 | ¥ 211,276 | ¥ 875,109 | ¥ 709,270 | ¥ 682,320 | |||||
Income before income taxes | 22,139 | 24,084 | 21,075 | 17,366 | 84,664 | 13,398 | 70,856 | |||||
Net income attributable to Nidec Corporation | ¥ 13,351 | ¥ 15,950 | ¥ 13,757 | ¥ 13,346 | ¥ 56,404 | ¥ 7,986 | ¥ 40,731 | |||||
Net income attributable to Nidec Corporation per share: | ' | ' | ' | ' | ' | ' | ' | |||||
Basic | ¥ 48.41 | [1] | ¥ 57.84 | [1] | ¥ 51.26 | [1] | ¥ 49.73 | [1] | ¥ 207.31 | [1] | ¥ 29.64 | ¥ 148.12 |
Diluted | ¥ 45.39 | [1] | ¥ 54.24 | [1] | ¥ 47.85 | [1] | ¥ 46.42 | [1] | ¥ 193.96 | [1] | ¥ 27.49 | ¥ 138.45 |
[1] | Earnings-per-share amounts for each quarter are computed independently. As a result, their sum may not equal the total year earnings-per-share amounts. |