Summary of FY2010. Year-end Dividend: 45 Yen per share (Up 5 Yen) Annual Dividend: 85 Yen per share (Up 20 Yen)

Transcription

1 OSE, TSE: 6594 NYSE: NJ Fiscal 21 Results Year Ended March 31, 211 < U.S. GAAP > April 26, 211 Summary of FY21 Record Operating Income, Income before Tax and Net Income for two consecutive fiscal years * General Motors in profit across all four quarters Year-end Dividend: 45 Yen per share (Up 5 Yen) Annual Dividend: 85 Yen per share (Up 2 Yen) * General Motors product group consists of electric motors for household, industrial and automotive applications. 2 1

2 Consolidated Profit/Loss (Millions of Yen, except EPS, dividends and FX rates) FY29 FY21 Change FY211 Forecast Net Sales 586,29 688, % 72, Operating Income (Operating Income Ratio) 78,513 (13.4%) 9,527 (13.1%) +15.3% 85, (11.8%) Income before Taxes 75,183 79, % 81, Net Income 51,961 52, % 52,5 EPS % Dividends FX Rate ( /$) Average: Term-end: % -1.6% 8. Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 3 Consolidated Sales & Operating Income Sales (LHS) Operating Income (RHS) Operating Income Ratio % 13.1% 11.8% % % FY27 FY28 FY29 FY21 FY211 (F) Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 4 2

3 Consolidated Quarterly Results 2 Sales (LHS) Operating Income (RHS) Operating Income Ratio % % 15.5% 14.8% % % % % 1.3 1Q FY29 2Q 3Q 4Q 1Q FY21 2Q 3Q 4Q Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 5 Business Portfolio Shift Steadily Underway 1% 8% 6% 4% 2% Sales Mix Shift 5% 5% 17% 16% 11% 11% 14% 27% 53% 41% Others Electronic & Optical Componets Machinery General Motors Small Precision Motors Nidec Motor Corp. (formerly Emerson Motors & Controls) included in the scope of consolidation in 3Q FY21. Sales growth: Nidec s power-steering motors Sales growth: Nidec Techno Motor s household and industrial motors % 4Q FY29 4Q FY21 Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 6 3

4 6 CAPEX, Depreciation, R&D CAPEX Depreciation R&D FY29 FY21 FY211 FY29 FY21 FY211 FY29 FY21 FY211 (F) (F) (F) Please refer to the accompanying note on Page 3 regarding discontinued operations (ASC 25-2). 7 Listed Subsidiaries -Results & Forecasts- (Millions of Yen) FY9 Sales FY1 FY11 (Forecast) FY9 Operating Income FY1 FY11 (Forecast) FY9 Net Income FY1 FY11 (Forecast) Nidec Sankyo 76,22 92,142 92,5 7,389 11,253 1, 4,69 7,56 6,7 Nidec Copal 65,62 73,131 75, 5,93 8,113 7,5 3,888 2,39 4,4 Nidec Tosok 24,15 29,946 3, 2,638 4,9 4, 321 2,366 2,4 Nidec Copal Electronics 24,985 3,58 3,7 2,422 4,969 5, 1,566 2,887 3,1 Nidec-Read 6,997 12,78 13, 973 2,436 2, ,553 1,9 Total 197, , ,2 19,325 3,78 29,1 11,31 16,351 18,5 Circled figures indicate record-highs. Numbers above are based on the generally accepted accounting standard in Japan. 8 4

5 Revision to FY211 Forecast Billions of Yen, except EPS, dividends and FX rates 1H/FY211 2H/FY211 FY211 Forecast Net Sales Operating Income Operating Income Ratio 1.5% 12.8% 11.8% Income before Tax Net Income EPS Dividends Assumed FX Rates ( /$) FY211 Focuses 1 5

6 FY211 Growth Strategy Capture rising emerging market demand (e.g., Chinese domestic market)»» Proposal-driven, region-specific approach that creates fresh revenue streams from new markets, new customers and new products Expand overseas production, R&D and sales»» Fine-tuned focus on growth markets and intergroup synergies Accelerate M&A»» Speedy entry into growth markets Establish strong global management framework»» Profit growth through management localization and 3-fold productivity increase 11 HDD Motor Shipment Outlook (Millions of Units) HDD Demand Nidec Motor Shipments FY21 FY21 FY21 FY21 FY211 FY211 FY211 FY211 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q (F) (F) (F) (F) (Source: Nidec IR Dept.) 12 6

7 Electric Power Steering Motor Shipment Outlook EPS motors on course to become a strong profit engine, with shipments growing faster than initially anticipated. (Thousands of Units) 6, Up 5% 4, Up 4% 2, FY26 FY27 FY28 FY29 FY21 FY211(F) 13 R&D and Mfg. Headway at Dalian Factory Lab Bldg. R&D laboratory and 3 rd mfg factory startup set for May to target Chinese domestic automotive manufacturers R&D aimed at Chinese domestic market -R&D manpower pool in China Factory 3 Factory 1 Factory 2 Automotive motor molding, machining and assy. -For Chinese domestic customers Motors for pumps, wind power generators, electric bicycles, etc.-new applications High-value-added, high-quality fan motors -Extensive mold development capacity Factory 3 (Automotive motors) Lab Bldg. (R&D focused on Chinese customers) Factory 2 (Fan motors) Factory 1 (DC motors) 14 7

8 Subsidiary Businesses Tapping into Growth Markets Transfer Robots: China (Pinghu) -In operation since January 211- LCD Glass-substrate Transfer Robots Ride on robust capex by Chinese domestic companies Auto Parts: China (Pinghu) -Operations to start in May 211- CVT Control Valves Capture ballooning autoparts demand among Chinese domestic companies Metal Casing Vibration motors, etc.: Vietnam (2 nd Factory) -In operation since January 211- Vibration Motors Eyeing global market with unmatched technical edge and expanded production capacity 15 Vision

9 Mid-term Target: Vision 215 Organic and M&A Growth Re-ignited to Build Two-Trillion-Yen Enterprise Group (Sales in Trillions of Yen ) 2 2T Yen M&A 1 New Growth Structural Platform Reform 1T Yen Organic FY29 FY21 FY211 FY212 FY213 FY214 FY215 (F) (F) (F) (F) (F) 17 Business Portfolio Shift: 215 Target (Sales in Billions of Yen) Small Precision Motors FY21 Automotive Motors Household, Industrial Motors * Other Products Groups Vision215 2 Pillars 4 Pillars Small Precision Motors * Other product groups consist of Machinery, Electronic/Optical Components, and Others New Growth Pillars Automotive Motors Household, Industrial Motors * Other Products Groups 18 9

10 Organic Growth Outlook for Prospective Pillars 4 Billion-plus sales of automotive, household and industrial motors (Sales in Billions of Yen) 5 Nidec Motor Corp. (Formerly Emerson Motors & Controls + Sole Motors) 3-fold Growth Nidec Techno Motor Hldgs. (Formerly Nidec Shibaura + Nidec Power Motor) Automotive Motors (Nidec + NMA) Household & Industrial motors 1 FY21 FY211 FY212 FY213 FY214 FY215 (F) (F) (F) (F) (F) Automotive motors 19 HDD Motors: Profitability Enhancement 1, 5 Uptrend remains intact in the server storage market (Millions of Units) Highend 3.5 in. Nearline 3.5 in. Desktop 2.5 in. Notebook 1.8 in. High value-added market Datacenter growth Product-mix improvement Higher Profit CY29 CY21 CY211 CY212 CY213 CY214 CY215 (F) (F) (F) (F) (F) 2 1

11 Market-oriented Organizational Regrouping Household & Industrial Motor Global Operations Asia Americas & Europe Nidec Techno Motor Hldgs. Nidec Motor Corp. (Formerly Emerson Motors & Controls) Merged (Formerly) Nidec Shibaura Corp. (Formerly) Nidec Power Motor Corp. Nidec Sole Motor Corp. 21 Global Tightening of Electric Motor Efficiency Standards Energy-saving initiatives growing worldwide Efficiency classification by IEC (International Electrotechnical Commission) U.S.A. (effective 21) EU (effective 214) China (effective 21) Korea (effective 28) Emerging economies, etc. IE4 IE3 IE2 IE1 Super premium efficiency Premium efficiency High efficiency Standard efficiency Industries on the move towards greener motor drive solutions 22 11

12 Global Synergies - 1 Industrial Equipment Nidec Techno Motor Hldgs. Sales operations targeted at Japanese and Asian customers Nidec Motor Corp. (Formerly Emerson Motors & Controls) Premium efficiency motors Prospective customer inquiries pouring in! Synergy NMC (Nidec Motor Corp.) Ministry of of Economy, Trade and Industry in in Japan most likely to to adopt the IE3 standards in in 215 Growing exports of IE3-compliant machinery to the American and European markets IE3 compatibility with JIS forthcoming. 23 Global Synergies - 2 Construction/Agricultural Vehicle Nidec Corp. Sales operations targeted at Japanese and Asian customers Nidec Motor Corp. (Formerly Emerson Motors & Controls) SR Motors Prospective customer inquiries pouring in! Synergy NMC (Nidec Motor Corp.) 24 12

13 Global Synergies - 3 Electric/Hydroelectric Vehicle R&D geared towards the Japanese and Asian markets R&D geared towards the American and European markets Shiga Technical Center Synergy NMC (Nidec Motor Corp.) EV/HEV Traction Motors 25 Global Synergies - 4 Electric Power Steering (EPS) Gain sales exposure to major U.S. car makers through mfg collaboration with NMC in Mexico. Nidec Corp. Sales operations targeted at North American customers Nidec Automobile Motor (Zhejiang), China Synergy Prospective customer inquiries pouring in! North American car makers 4 th EPS motor factory NMC (Mexico) Nidec (Dalian), China Nidec Motors & Actuators, Poland (NMA) NMC Reynosa, Mexico 26 13

14 Global Synergies - 5 Automotive Motor ECU -Electronic Control Unit- Nidec Corp. In-house ECU development Technological interplay between Nidec and NMC High value-added, integrated modular motor drive Technological Backup Shiga Technical Center Engine/Battery Cooling Control, HVAC Control, etc. Synergy EPS Motor Module NMC (Nidec Motor Corp.) EV/HEV Traction Motor Inverter 27 Global Synergies - 6 Automotive Motor (China) Strong motor demand in China, Russia, Korea, etc. NMA s German production lines (brush DC motors) moving fast to China High-volume Production (Millions of Units) Nidec Motors & Actuators, Germany (NMA) NMA Products Manufactured in Dalian Synergy Seat Adjustment Motor Nidec (Dalian), China Chinese, Russian and Korean markets Engine Cooling Motor Sunroof Motor FY21 FY211 FY212 FY215 (F) (F) (F) 28 14

15 Potential SR Motor Applications Prospective Areas for Extra-efficient, Rare Earth-free SR Motor Automobiles Electric Vehicles Home Appliances Farm Tractors Food Processors Vacuum Cleaners Busses Heavy Duty Traction Centrifuges Laundry Products Factory Equipment High Pressure Pumps Infrastructure Textile Machinery Air Compressors Rail Air Conditioning Mining Water Equipment Cranes Injection Pumps 29 Notes Regarding Forward-looking Statements and Accounting Treatment of Discontinued Operations and Business Combinations Disclaimer Regarding Forward-Looking Statements These presentation materials and the subsequent discussions regarding the Nidec Groups financial results contain forward-looking statements including expectations, judgment, plans, and strategies. The forward-looking statements are based on management s assumptions and belief in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: fluctuation of currency exchange rates, overall supply and customer demand in the motor industry, product development and production capabilities, performance of affiliated companies, and other risks and uncertainties. Nidec undertakes no obligation to update forward-looking statements to reflect events or circumstances that occur after the date the forward-looking statements are made. Accounting Treatment of Discontinued Operations and Business Combinations 1) Pursuant to FASB Accounting Statements Codification (ASC) 25-2, "Presentation of Financial Statements- Discontinued Operations, the results of discontinued operations have been reclassified and presented separately from those of continuing operations as Loss from discontinued operations. The relevant priorperiod statements have been retrospectively adjusted to reflect this reclassification. 2) Pursuant to ASC 85 "Business Combinations", the results of operations for the nine months ended December 31, 21 have been retrospectively adjusted as the fair value evaluation of the assets acquired and the liabilities assumed upon the acquisition of Nidec Motor Corporation completed in the three months ended March 31, 211. The results of operations for the three months ended March 31, 211 were prepared based on this retrospective adjustment. 3 15

16 Nidec IR Contacts Japan Tel: U.K. Tel: U.S. Tel: Nidec logo is a registered trademark or a trademark of Nidec Corporation in Japan, the United States and/or certain other countries. All for dreams logo is a registered trademark of Nidec Corporation in Japan, and a trademark in the United States and/or certain other countries. Appendix Performance Trend & Product Groups Overview 32 16

17 Sales by Product Group (FY21) Others Pivot assemblies, Auto parts, Logistics, Services Etc., Musical products Electronic & Optical Components Camera shutters, Camera lens units, Switches, Trimmer potentiometers, Actuator units, Processing, Precision plastic mold products Machinery Industrial Robots, Card Readers, Circuit board testers, High-speed pressing machines, Chip mounters, Measuring equipment, Power transmission equipment, Factory automation system General Motors 17.1% (18.%) 11.3% (8.2%) Motors for automobiles, home electronic appliances and industrial equipment 5.% (4.9%) 19.9% (12.5%) 688.5B Yen HDD Motors 28.5% (34.8%) 4.9% 2.8% 66.6% (68.9%) Parenthetic percentages represent FY29 mix. 46.7% (56.4%) 1.5% (12.9%) Small Precision Motors Other DC Motors Optical disk drives, OA equipment motors, Polygon scanners, Other brushless DC motors Fan Motors Game machine consoles, MPU cooling fans, PC/communication devices, Home appliances, Automobiles Other Small Motors Vibration motors, Brush motors, Stepping motors Motors Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 33 Consolidated Sales & Operating Income Sales (LHS) Operating Income (RHS) FY7 FY8 FY9 FY1 FY11(F) Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85)

18 Consolidated Income Before Tax & Net Income 125 Income Before Tax Net Income FY7 FY8 FY9 FY1 FY11(F) Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 35 Dividends and EPS (Yen/share) 1 Annual Dividends (LHS) EPS (RHS) (Yen) FY7 FY8 FY9 FY1 FY11(F) Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85)

19 Consolidated Cash Flow Operating Activities Investment Activities Free Cash Flow (Operating CF + Investment CF) FY9 FY Please refer to the accompanying notes on Page 3 regarding Discontinued Operations (ASC 25-2) and Business Combinations (ASC 85). 37 Product Groups Overview -1 <Small Precision Motors> Other Small Motors (sales, LHS) Fan Motors (sales, LHS) Other DC Motors (sales, LHS) HDD Motors (sales, LHS) Operating Income (RHS) <General Motors> Sales (LHS) Operating Income (RHS) FY8 FY9 FY FY8 FY9 FY1 Please refer to the accompanying note on Page 3 regarding Business Combinations (ASC 85)

20 Product Groups Overview -2 <Machinery> <Electronic & Optical Components> <Others> Sales (LHS) Operating Income (RHS) Sales (LHS) Operating Income (RHS) Sales (LHS) Operating Income (RHS) FY8 FY9 FY1 FY8 FY9 FY1 Please refer to the accompanying note on Page 3 regarding Discontinued Operations (ASC 25-2). FY8 FY9 FY1 39 HDD Motors 24 Sales (LHS) Shipment Index (RHS) 132 (Shipment Index: FY8=1) FY8 FY9 FY

21 Other DC Motors Sales (Parent, LHS) Shipment Index (Parent, RHS) 1 Sales (Subsidiaries, LHS) (Shipment Index: FY8=1) FY8 FY9 FY Fan Motors Sales (Parent, LHS) Shipment Index (Parent, RHS) 4 Sales (Subsidiaries, LHS) (Shipment Index: FY8=1) FY8 FY9 FY

22 General Motors Nidec Shibaura sales (LHS) Nidec sales (LHS) Nidec Sole Motors sales (LHS) Operating Income (RHS) Sales Nidec Power Motor sales (LHS) NMA sales (LHS) Nidec Motor sales (LHS) Operating Income FY8 FY9 FY1 Please refer to the accompanying note on Page 3 regarding Business Combinations (ASC 85) Machinery Sales 1 Nidec Sankyo sales (LHS) Nidec-Kyori sales (LHS) Nidec Tosok sales (LHS) Operating Income (RHS) Nidec-Shimpo & Read sales (LHS) Nidec Copal sales (LHS) Other Subsidiaries sales (LHS) Operating Income FY8 FY9 FY

23 Electronic & Optical Components Sales 2 Nidec Sankyo sales (LHS) Nide Copal Electronics (LHS) Operating Income (RHS) Nidec Copal sales (LHS) Others sales (LHS) Operating Income FY8 FY9 FY1 Please refer to the accompanying note on Page 3 regarding Discontinued Operations (ASC 25-2). 45 Others Sales 5 Nidec Tosok sales (LHS) Operating Income (RHS) Nidec & Other Subsidiaries (LHS) Operating Income FY8 FY9 FY

24 Thank You! 47 24