1. No category

(TSE： 6594 NYSE: NJ)
http://www.nidec.com/
Nidec Corporation
Fiscal 2014 Financial Results
Fi l Year
Fiscal
Y Ended
E d d March
M h 31,
31 2015
<U.S.GAAP>
April 23, 2015
Note Regarding
g
g Forward-looking
g Statements
These presentation materials and the related discussions contain forward-looking
statements including expectations, estimates, projections, plans and strategies. Such
forward-looking statements are based on management’s targets, assumptions and
beliefs 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 risks and uncertainties include, but are not limited
g in customer circumstances and demand,, exchange
g rate fluctuations,, and
to,, changes
the Nidec Group’s ability to design, develop, mass produce and win acceptance of its
products and to acquire and successfully integrate companies with complementary
technologies and product lines. Please see other disclosure documents filed or
published by the Nidec Group companies, including the latest Form 20-F and
Japanese securities report, for additional information regarding such risks and
uncertainties. Nidec undertakes no obligation to update the forward-looking
statements unless required by law.
The first slide features the transmission oil pump of Geräte
Geräte- und Pumpenbau GmbH Dr. Eugen Schmidt (currently, Nidec GPM
GmbH) the company acquired on February 2, 2015.
2
Consolidated Profit/Loss
Millions of Yen except
for EPS and FX Rates
FY2013
FY2014
FY2015
Forecast
Change
Net Sales
875,109
1,028,385
+17.5%
1,150,000
Operating Income
84 864
84,864
111 218
111,218
+31 1%
+31.1%
130 000
130,000
9.7%
10.8%
-
11.3%
Income before Tax
84 460
84,460
107 371
107,371
+27 1%
+27.1%
126 000
126,000
Net Income
56,272
76,216
+35.4%
90,000
EPS (Yen)
(Y ) *
206 82
206.82
272 32
272.32
+31 7%
+31.7%
302 73
302.73
Dividends (Yen) *
50.00
70.00
-
80.00
100.24
102.92
109.93
120.17
+9.7%
+16.8%
(Assumed)
Operating Income Ratio
FX Rate
R t (Yen/US$)
(Y /US$)
Average:
Term end:
115.00
*Adjusted based on the 2-for-1 split implemented as of April 1, 2014. “EPS” and “Dividends” are expressed assuming that the stock
split occurred at the beginning of FY2013.
3
Summary of FY2014
„ Record-high net sales, operating income, income before taxes and net
income
„ Reached the 1 trillion yen mark in net sales and the 100 billion yen
mark in operating income for the first time
„ Total sales of Automotive, Appliance, Commercial and Industrial
Products surpassed those of Small Precision Motors as a result of the
strategic business portfolio transformation
„ Total operating income for Automotive, Appliance, Commercial and
I d t i l Products
Industrial
P d t crossed
d 10 billi
billion Yen
Y in
i 4Q
*
„ CB conversion amounted to 74.3 billion Yen (78% of total). As a result,
debt to equity ratio improved further as the year-end shareholders
shareholders’
equity ratio rose to 55%, which surpassed the goal of 50% set
originally for March 2016
* Calculated based on the remaining CB value of 95.75B Yen which is 100B (total
issued CB value ) less 4.25B (early redemption put option)
4
FY2015 Forecast
Millions of Yen, except for
EPS, dividends and FX rate
1H/FY2015
2H/FY2015
Full-Year
Net Sales
550,000
600,000
1,150,000
Operating Income
58,000
72,000
130,000
Operating Income Ratio
10.5%
12.0%
11.3%
Income before Tax
56,000
70,000
126,000
Net Income
40,000
50,000
90,000
EPS (Yen)
134 93
134.93
167 80
167.80
302 73
302.73
Dividends (Yen)
40.0
40.0
80.0
FX Rate (Yen/US$)
115
115
115
FX Rate (Yen/Euro)
125
125
125
Note: Based on the current forecast of sales volume, every one yen appreciation or depreciation against the
U.S. dollar and the euro for FY2015 is estimated to have an annualized impact of 6.70 billion yen and 0.78
billion yen on sales, respectively, and 0.78 billion yen and 0.23 billion yen on operating income, respectively.
5
Consolidated Quarterly Sales and Operating Income
Sales (LHS)
Operating Income (RHS)
350
Record-high
achieved
(All figures in Billions of Yen)
35
30
250
25
200
20
150
15
Japan
Earthquake
Thai
Floods
100
O
Operating
Income
S
Sales
300
10
50
5
Lehman Crisis
0
0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
-50
FY2008
FY2009
FY2010
FY2011
FY2012
Structural Reform
FY2013
FY2014
-25.4
-5
6
Consolidated Cash Flow
Operating Activities
Investing Activities
Free Cash Flow (Operating CF + Investing CF)
(Billions of Yen)
150
110 3
110.3
91.9
87.2
56.7
36.8
24.0
10.6
-23.6
0
-19.9
M&A IInvestment *
+5.2 billion Yen
-63.2
M&A Investment *
-79 9 billion Yen
-79.9
-150
M&A Investment*
-23.4
23 4 billi
billion Yen
Y
-133.9
FY2012
FY2011
-81.2
FY2013
*
M&A Investment
-27.3 billion Yen
FY2014
*M&A investment: Acquisitions of business
business, net of cash acquired in “Cash
Cash flows from investing activities”
activities
Nidec Seimitsu Corp. (FY2011), Nidec Minster Corp., Nidec ASI S.p.A., Nidec Avtron Automation Corp., Nidec Kinetek Corp., Nidec Kaiyu Auto
Electric (Jiangsu) Ltd., SCD Co., Ltd. (FY2012), Nidec Sankyo CMI Corp., Nidec Elesys Corp. (FY2013) and Nidec GPM GmbH (FY2014)
7
CAPEX, Depreciation and R&D
(Billions of Yen)
80
CAPEX
Depreciation
R&D
72 0
72.0
60.0
58 0
58.0
52.0
51.4
40
45.2
44.4
40 0
40.0
37.8
0
FY13
FY14
FY15
(Forecast)
FY13
FY14
FY15
(Forecast)
FY13
FY14
FY15
(Forecast)
8
Dividends
Dividend payments continue to increase with growing
business results since the structural reform
(Yen)
(Yen per share)
*
120
Dividends (LHS)
EPS (RHS)
*
400
303
272
60
200
207
70.0
80.0
50.0
42.5
30
0
0
FY2012
FY2013
FY2014
FY2015
(Forecast)
*Adjusted based on the 2-for-1 stock split implemented as of April 1, 2014. The figures for FY2012
and FY2013 are expressed assuming that the stock split occurred at the beginning of FY2012.
9
Mid T
Mid-Term
Strategic
S
i Goal
G l
Vision 2020
This section includes forward-looking statements. See disclaimer on page 2 of this presentation.
10
FY2020 New Mid-Term Strategic Target
Continuous pursuit for profit & strong growth
1 Target
1.
T
t for
f consolidated
lid t d nett sales:
l 2 trillion
t illi Yen
Y
(including new M&A of approx. 500 billion Yen)
2 Sales target for automotive: 700 billion to 1 trillion Yen
2.
3. Target for consolidated operating income ratio: 15%
g for ROE: 18%
4. Target
(Assuming shareholders’ equity ratio of 60%)
5. Five regional HQ management
11
Targets for Net Sales and Operating Income Ratio
Aiming for both sales growth (organic + M&A) and profitability enhancement
(Sales in Trillions of Yen)
(Operating Income Ratio
Ratio, %)
2.5
15
15%
13.9%
Sales
2T
13.7%
2
11.3%
10.8%
10.7%
9.7%
1.5
1
Sales
571.6B
Sales
676.0B
Sales
682.3B
Sales
709.3B
Sales
875.1B
Sales
1.03T
New M&A
Approx.500B
10
Organic Growth + M&A
(CAGR approx. 12%)
Sales
1.15T
Organic growth
((CAGR approx.
pp
7%))
5
05
0.5
2.5%
0
0
FY09
FY10
FY11
FY12
Structural
Reform
FY13
FY14
FY15
(Forecast)
FY20
(Target)
12
Pursuing Both Strong Growth with Profit and Financial Soundness
Targeting operating income ratio of 15% and ROE of 18% while sustaining and improving financial soundness
(The average ROE during the ten years through FY2014 was 12.3%)
Net cash by March 2016
in sight
(Billion yen)
1,500
Shareholders’ Equity (LHS)
ROE (RHS)
Shareholders’ Equity Ratio (RHS)
Operating Income Ratio (RHS)
Shareholders’ equity ratio
surpassed
d 50% one year
ahead of plan
p
1,200
49.1%
900
47.5%
46.2%
42 3%
42.3%
60%
55%
44.4%
415.7
12.1%
12.1%
ROE
13.9%
13.7%
340.3
355.3
10.7%
2.5%
9.7%
10.8%
Operating
Income Ratio
15%
2.0%
0
FY08
FY09
FY10
FY11
Lehman
Crisis
FY12
10%
5%
370.2
297.1
20%
15%
9.2%
8.9%
45%
18%
11.2%
300
50%
The three elements for
ROE improvement
p
・ Net profit on sales
・ Total asset turnover
・ Financial leverage
518.0
15.0%
65%
Equity Ratio
41.3%
16 3%
16.3%
60.0%
55.0%
745.2
600
(%)
0%
FY13
FY14
FY20
Structural
Reform
(Target)
Japan Credit Rating Agency, Ltd. (JCR) upgraded our long-term issuer rating by one notch from A+ to AA- as of Oct. 1, 2014.
13
Business Structure to Support Profitable Global Growth
Matrix management structure with five regional HQ
2. China
2
Regional HQ began operating in
Jan 2012
3. Asia
From individual management by
country to regional integration
4. Americas
Regional HQ began operating in
Oct 2014
5. EMEA
Reorganization registration filed in
Mar 2015
Regionall corporate function by
y
reg
gion and fun
nction
Strengthening bases for growth strategy
• Global organic growth
• Accelerating post merger integration of
overseas acquisitions
Management function by business
Small
S
a
Precision
Motors
AutoA
motive
Appliance,
Commercial
& Industrial
Other
Product
Groups
1 Japan
1.
2. China
Roles of regional Headquarters
1. Improve management quality
(Governance, Compliance, Internal Control)
3. Asia
2. Improve management efficiency
(TBD)
(High quality & cost effective shared services)
4 Americas
4.
A
i
*
3 Proactive
3.
P
i PMI support ffor
acquired companies
5. EMEA
* EMEA: Europe, the Middle East and Africa
14
Targets for Net Sales in FY2020 by Category
FY2020
Sales: 2 Trillion Yen (Target)
Accelerate topline growth with focused allocation of
management resources in fast growing areas
di
driven
by
b technological
t h l i l innovations
i
ti
FY2010
Sales: 676.0 Billion Yen
(Sales: Billions of
Yen))
New M&A
500
FY2015
Sales: 1.15 Trillion Yen
(Target)
400
400
to
600
400
to
600
(Sales: Billions of Yen)
(Sales: Billions of Yen)
700B
to
1T
Key Growth Areas
348.4
300
Small
Precision
Motors
94.2
Appliance,
Commercial
& Industrial
69 2
69.2
Automotive
Small
Precision
Motors
164.2
280
Small
Precision
Motors
170
Automotive Appliance,
Commercial
& Industrial
Other
Product
Groups
200
to
300
Automotive
Appliance,
Commercial
& Industrial
Other
Product
Groups
Other
Product
Groups
15
FY2015 Sales and Profitability Targets by Product Category
Small Precision Motors
(Operating Income in (Sales in Billions of Yen)
Billions of Yen)
(Sales in Billions of Yen)
600
120
331.4
362.5
398.0
400
to
600
300
56.7
1.0T
1
0T
400
Yen
120
300.0
63.1
197.0
200
60
84 3
84.3
22.6
FY11
FY12
FY14
FY15
FY20
(Forecast)
(Target)
(Sales in Billions of Yen)
0
161.8
4.6
15.5
226 1
226.1
400
to
600
20.1
263.0
280.0
FY14
FY15
FY20
(Forecast)
(Target)
FY14
FY15
FY20
(Forecast)
(Target)
(Operating Income in
Billions of Yen)
(Sales in Billions of Yen)
300
40
142.4
141 1
141.1
167.4
170.4
170.0
21.9
30
14.9
200
to
300
0
FY12
-0.6
-150
20
13.9
0
0
FY13
FY13
-60
FY11
6.1
FY12
FY12
-2.0
150
300
60
Other Product Groups
60
FY11
16.6
-200
(Operating Income in
Billions of Yen)
600
0
700
to
1T
6.7
3.3
0
FY13
Appliance, Commercial & Industrial
124.2
86 7
86.7
119.2
0
FY11
0
(Operating Income in
Billions of Yen)
400.0
319.7
54.2
Sales
Operating Income
Automotive
FY13
FY14
FY15
FY20
(Forecast)
(Target)
-20
16
Nidec HDD Motor Shipment Outlook
(Millions
of Units)
While FY2015 HDD shipments are expected to remain flat,
Nidec’s market share is estimated to increase
160
HDD Shipments
147
Nidec Motor Shipments
141
138
135
133
126
129
123
120
80
100
99
104
99
40
93
106
108
103
0
1Q
2Q
3Q
FY2014 (Actual)
4Q
1Q
2Q
3Q
FY2015 (Forecast)
4Q
(Nidec estimates based on various sources)
17
HDD Market Trend (1)
Demand for PC gradually falling while data center application increasing solidly
(Millions of Units)
600
553
500
32
36
73
564
32
37
100
400
PC
518
31
44
91
123
External
Consumer Electronics
498
28
48
85
480
22
55
81
124
300
115
Data Center
124
123
470
18
460
15
70
450
10
80
91
75
70
271
100
0
CY13
CY14
237
CY15
65
121
121
121
200
289
Enterprise
(Near Line Drive)
213
199
186
174
163
CY16
CY17
CY18
CY19
CY20
(Nidec estimates based on various sources)
18
HDD Market Trend (2)
HDD playing a major role in data storage in the era of Big Data
‹Comparison of data storage media
Media
Characteristics (Advantage / Disadvantage)
Application
HDD
High capacity and cost performance / no major disadvantages
Major role in data storage
Good
SSD
High speed access / less competitive in price, capacity and
durabilityy
Frequently accessed data storage
Fair
Tape
Data safely stored in the event of catastrophe / not suitable for
network connection
Off-line cold storage
Fair
(Millions of Units)
Judgment
More than
double
91
<HDD Shipment forecast for data center application>
100
80
80
70
55
60
40
37
44
48
20
0
CY14
CY15
CY16
CY17
CY18
CY19
CY20
(Nidec estimates based on various sources)
19
Other Small Precision Motor Trend (1)
Enhancing the Two Approaches
Customer-Specific,
C
t
S ifi
Cross-Application Approach
Deeepening
e.g., Company X
(global appliance
manufacturer)
Motor demand from
major appliance
manufacturers
Application Specific
Application-Specific,
Cross-Customer Approach
e.g., Cleaning robot
application
Approx.
US$3.5B
(Nidec estimate)
Widening
Company Company Company Company Company
A‘s
B’s
C’s
D’s
E’s
Cleaning Cleaning Cleaning Cleaning Cleaning
Robot
Robot
Robot
Robot
Robot
Adopted!
Adopted! Adopted!
Adopted!
Adopted!
¾Build up customer information thru App-Specific Approach
¾ Make proposals in advance, across industries
Proposing Solutions
Take proactive strategy by
anticipating customer’s demand
e.g.,
Modularization of
product using noncustomized chips
Driver
20
Other Small Precision Motor Trend (2)
New Product, New Market and New Customer Challenge
‹Example 2: New Market “Haptic
Haptic Devices
Devices”
‹E
‹Example
l 1:
1 Vibration
Vib ti motor
t market
k t
<Outlook of vibration motor market>
<Image of products using haptic technology>
(Billion Units)
Smartphones
3.0
Gaming
Console
2.5
2.6
2.5
2.3
PC and Tablets
2.7
Feature
Phones
2.0
Smaller devise
↓
Thin linear
Vibration motor
2.0
15
1.5
Smartphones
Strong growth
in Smartphones
1.0
Built-in
vibration motor
in touch panel
Automotive
Wearables
Feedback
when
touching the
device
Vibration motors around
the driver’s seat
0.5
0
CY14
CY15
CY16
CY17
CY18
e.g., Watches
(Nidec estimates based on various sources)
21
Quarterly Trends
Automotive, Appliance, Commercial and Industrial Products
Aiming to maintain the upward trend of sales and operating income
beginning from the structural reform into FY2015
Sales (LHS)
(Sales in Billions of Yen)
( p
(Operating
g Income
in Billions of Yen)
(Operating Income (RHS)
200
20
150
15
126.7
110.2 108.1
108 1
98.2
100
84.1
74.2
50
54 9
54.9
51.9
2.5
2.5
49.6
1.9
52.2
54 0
54.0
2.5
2.7
58.7
61.6
45
4.5
80.0
83.0
5.1
5.3
8.6
8.6
114.9
9.3
7.4
10
10.3
5
2.2
0.7
0
0
1Q
-50
2Q
3Q
4Q
1Q
2Q
3Q
FY2011
FY2012
(Actual)
(Actual)
4Q
1Q
-3.0
Structural
Reform
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
FY2013
FY2014
FY2015
(Actual)
(Actual)
(Forecast)
*Please refer to Notes on page 35.
4Q
-5
22
New Mid-Term Strategic Goal for Auto
Targeting 1 trillion Yen sales by FY2020, through focus on synergies and M&A
(Sales in Billions of Yen)
700B
to 1 T
1 Trillion
Strategy 1
Speed up sales growth through
modularization and electrification
Integrating Nidec Group, differentiating
products through modularizing to accelerate
speed of growth.
800
600
Strategy 2
Initiate strategic in
in-house
house production
through process renewal
Large-scale orders enable us to step up inhouse production of parts
parts. Aggressively
pushing to enhance profitability.
400
300.0
200
197 0
197.0
FY14
Strategy 3
FY15
FY16
(Forecast)
FY17
FY18
FY19
R li large-scale
Realize
l
l M&A
Well-timed large-scale cross border
business acquisitions in the waves of
market consolidation
greater
synergies among Nidec operations
FY20
(Target)
23
Automotive Market Environment (1)
Speeding up globalization process to take advantage of larger order flows
OEMs are expanding adoption of common platforms to various models of cars
Model A
Model B
Model C
Model D
Model E
Tier 1 customers are focusing
more on “local production for
local consumption”
with larger order flows
Tier 1 customers are
expanding their operational size
globally, and pushing themselves
toward electrification
Larger
g
order flows
Electrification
Modularization
Increase in-house
capability of parts
24
Automotive Market Environment (2)
*
*
Increase in adoption of AEBS driving rapid expansion of ADAS market
ADAS-equipped
q pp car pproduction estimates
(Million cars)
(Million cars)
Previous estimate
20
(October 23, 2014)
Updated estimate
20 million
20
Strong upward revision
15.2 million
15
15
10
10
5
5
0
0
CY16
CY17
CY18
CY19
CY20
CY16
*AEBS: Advanced Emergency Braking System
*ADAS: Advanced Driver Assistance Systems
CY17
CY18
CY19
CY20
(Nidec estimates based on various sources)
25
Pursue Differentiation through Modularization
Maximizing “One Nidec” synergies to enhance both sales and profit growth
‹Examples
p of Modularization of Auto Parts
*
*
(1) EPS Power Pack
Nidec
Nidec Elesys
(2) EOP Power Pack
Nidec
Nidec Elesys
Nidec Tosok
Nidec GPM
ECU
Inverter
Motor
Motor
Pump
EPS Power Pack
Case
EOP Power Pack
Plan to introduce ultra-small power pack for EPS with highly reliable safety functions
* EPS: Electric Power Steering
* EOP: Electric Oil Pump
26
Global Network to Support “Local Production for Local Consumption”
Driving full-fledged in-house production of components enhanced by large-scale orders
*
NMA Poland
l d
Nidec
id (Dalian)
( li )
*
NMA Germany
Nidec (Zhejiang)
*
NMA Spain
Nidec GPM
(Germany)
Nidec
id Elesys
l
Nidec Sankyo CMI
Nidec GPM (Suzhou)
Nidec Automobile Motor (Zhejiang)
Nidec Automotive Motor (Juarez)
Examples of
in-house products
Nidec Elesys (Zhongshan)
Nidec Tosok (San Luis Potosi)
Pressed
P
d parts
t Production tools
Nidec Elesys Americas
Processed shafts
Molded Parts
*
Nidec India
*
Processed housings
Die cast parts
Nidec Elesys (Thailand)
Nidec Tosok (Vietnam) (die casting)
Nidec Tosok (Auto Parts)
Nidec GPM (Brazil)
*NMA: Nidec Motors & Actuators
*Nidec India Private Limited: Starting production in July, 2015
*Nidec Tosok de Mexico, S.A. de C.V. : Starting production in May, 2015
27
Seeking Higher Market Shares in Global Auto Parts
Aiming to become one of the leading global suppliers in the electrification age
(Million
Units)
EPS market and Nidec’s Target
g
80
60
61
57
64
67
12
70
8
8
40
FY2020
Aim for 50%
market share
20
*
DCT market and Nidec’s Target
g
(Million
Units)
0
8
9
10
6
FY2020
Aim for 70%
market share
4
0
FY16
FY17
FY18
FY19
FY20
FY16
Market
FY17
FY18
FY19
FY20
Nidec Group
(Million
Units)
*
EOP market and Nidec
Nidec’ss Target
12
11
(Million
Units)
35
11
9
8
EWP market and Nidec
Nidec’ss Target
28
8
6
21
FY2020
Aim for 30%
market share
4
0
21
25
28
31
34
14
FY2020
Aim for 20%
market share
7
0
FY16
FY17
FY18
*DCT: Dual Clutch Transmission
FY19
FY20
*EWP: Electric Water Pump
FY16
FY17
FY18
FY19
FY20
(Nidec estimates based on various sources)
28
New Mid-Term Strategic Targets for ACIM
*
Adding value by evolving from discrete product to solution provider
(Sales in Billions of Yen)
600
400
to
600
Strategy
1 5 Market Approaches
新中期戦略目標
Sharing best practices among acquired
companies
450
300
Strategy 2
280
263
Steady Organic Growth
Maximizing sales & profitability on back
*
of transition to BLDC and invertors
150
Strategy 3
Proposing Solutions
Transforming the nature of business from
di
discrete
t product
d t to
t solution
l ti provider
id
FY14
FY15 FY16
(Forecast)
FY17
FY18
FY19
FY20
(Target)
*ACIM: Appliance, Commercial & Industrial Motor
*BLDC: Brushless Direct Current Motors
29
5 Markets of ACIM
Serving markets with a globally integrated structure
Nidec Kinetek
Nidec Avtron
A
Automation
i
Nidec ASI
Nidec Techno
Motor
FY08
Nidec Sole
Motor
M
Nidec Motor
Corporation
FY09
FY10
FY11
FY12
FY13
FY14
Sharing best practices in areas such as
strategy planning, CFO function, HRM,
R&D intellectual property and purchasing
R&D,
Nidec Techno
Motor
Air conditioning motors,
high efficiency industrial
motors
Global
Appliance
Motors for washing
machines, dryers, dishwashers and kitchen
ventilators
Commercial &
Residential
Solutions
Commercial & residential
air conditioner motors,
pool & spa pumps, gear
motors for kitchen
appliances
Elevator &
Drive Systems
Industrial
Solutions
Elevator packages and
related products, drives
systems for autonomous
electric devices
Motors for industrial
equipment and machines,
power electronic products
such as drives (invertors),
automation
30
Evolution of ACIM Business Model
Adding value by evolving from discrete product to solution provider
Drives &
Controls
Motors
Generators
Service &
Distribution
Automation
Platform
South East
Asia
Renewable Energy Storage System
Elevator packages
Elevator &
Drive Systems
China
Low speed electric vehicle
Commercial
& Residential
S l i
Solutions
Europe /
Middle East
China new energy vehicle
Automated Guided Vehicle
Global
Appliance
Americas
Aftermarket
Nidec
Techno
Motor
Integrated motordrive system
Discrete
Product
Japan
Module Sale
Solution Sale
Expan
nd Geograaphic Reacch
Expand Customerr/Market Depth
D
Industrial
Solutions
Gears &
Gearboxes
Internet
of Things
31
Long-Term Vision: Aiming for 10 Trillion Yen Sales by FY2030
Continuous growth for 42 years by turning big dreams into reality
FY2030 target
10T Yen
Y sales
l
1988
1973
2001
2003
FY2025 target
5T Yen sales
Initial
Public
Offeringg
It all started with just 4
1979
1984
Listed on NYSE
1995
Production of Expanded axial Began
spindle motors flow fans thru R&D of
for 8” HDDs US acquisition auto
motors
New HQ on
30th anniversary
FY 2020 target
2T Yen sales &
15%
% operating
p
g
income ratio
Reached
1T Yen
1998
2012
Expanded
Appliance &
Commercial
motors
Set foot into solar
& wind power
generation
Sales
Operating Income
1973
1980
1990
2000
2010
First growth phase
2014 2020
2025
2030
Second growth phase
(FY)
32
Business Structure Eyeing FY2030
Facilities to promote in-house development of fundamental R&D
capabilities, optimum production engineering methods and global talent
Corporate university to
transplant “Nagamori-ism”
to prospective executives
Nidec R&D Center, Japan
(Opened in June 2012)
The Lab aims to realize
optimum
ti
production
d ti
engineering methods suited
for the age of Industry 4.0
Rendering
Rendering
Nidec Business School
Production Engineering Laboratory
(Scheduled to open in FY 2016)
(Scheduled to open in FY 2016 or later)
33
Aiming to Create New Large Businesses for 10 Trillion Yen Sales
Adding values of Nidec Group products through Internet of Things
Machine to machinemachine
based IoT solution
S
Smart
t
Factory
S
Smart
t
AGV *
Control cloud
server
Application/solution
Platform
S
Smart
t
Press
S
Smart
t
Energy
Big data analysis IoT visualization
engine
tool
Internet or Intranet
N t
Network
k
Factory
access point
Device
Smart hub
Build a system based on our
expertise on devices
Sensor
Measuring
equipment
*
AGV
Manufacturing
equipment
Power conditioner
Connect to cloud servers using
sensingg & communication terminals
Production line
Logistics
*AGV: Automated Guided Vehicle
Photovoltaic
Industries generation/irrigation
34
pump
Nidec IR Contacts
Japan Tel: +81-75-935-6140
U.K. Tel: +44-870-351-7388
U.S. Tel: +1-212-703-7988
E-mail: [email protected]
E-mail: [email protected]
E-mail: [email protected]
*Notes:
Pursuant to ASC 805 “Business Combinations,” consolidated financial statements for 4QFY2013,1QFY2014 and
Q
have been retrospectively
p
y adjusted
j
to reflect our valuation of the fair values of the assets acquired
q
and the
2QFY2014
liabilities assumed upon the acquisitions of Nidec Sankyo CMI Corporation and Nidec Elesys Corporation in the fiscal
year ended March 31, 2014. During 3QFY2014, we completed our valuation of such assets and liabilities of Nidec
Sankyo CMI Corporation and Nidec Elesys Corporation.
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.
35
Appendix
Performance Trends
&
Product Group Overview
36
Sales by Product Group (FY2014)
Electronic & Optical
Components
Logistics, services,
musical
i l products
d t
0.6%
Camera shutters, switches,
trimmer potentiometers,
processing, precision plastic
mold products
Machinery
Parenthetic percentages represent FY2013 mix
Others
(0.9%)
Small Precision Motors
6.3%
38.7%
(8.3%)
(41.4%)
9.6%
Industrial robots, circuit
board testers, high
high-speed
speed
pressing machines, chip
mounters, measuring
equipment,
power transmission
equipment, factory
automation system, card
readers
HDD Motors
(9.9%)
19.8%
Appliance
1,028.4B
Commercial
Industrial
18 9%
18.9%
(20.2%)
25.6%
Auto
19.1%
(25.8%)
Automotive,
Appliance,
Commercial
and Industrial
Products
Other Small Motors
Optical disk drive motors
OA equipment motors
polygon scanners
MPU cooling fans
game machine fans
PC/communications
equipment fans, home
appliance fans,
automobile fans,
vibration motors,
brush motors,
stepping motors,
actuator units
(21.2%)
(13.6%)
44.7%
(39.5%)
37
Consolidated Sales & Operating Income
(Billions of Yen)
Sales (LHS)
Operating Income (RHS)
(Billions of Yen)
Operating Income Ratio
50
300
264.3
211.3
218.4
217.1
249.3
240.2
228 4
228.4
274.6
10.9%
11.1%
10.8%
9 8%
9.8%
8.5%
21.3
10.4%
22.5
10 1%
10.1%
23.0
10.4%
26 9
26.9
28.8
30.5
25.0
18.0
0
0
1Q/FY13
2Q
3Q
4Q
1Q/FY14
2Q
3Q
*Please refer to Notes on page 35.
4Q
38
Consolidated Income Before Tax & Net Income
Consolidated Net Income
Consolidated Income Before Tax
(Billions of Yen)
35
29.8
27.1
26 1
26.1
24.5
24.1
21.9
21.1
21.3
19 1
19.1
18.2
17.6
17.4
16.0
13.8
13.3
13 2
13.2
0
1Q/FY13
2Q
3Q
4Q
1Q/FY14
2Q
4Q
3Q
39
*Please refer to Notes on page 35.
Small Precision Motors
(Billions of Yen)
Sales
Operating income
120
20
87.8
92.6
14.3
60
92.8
89.3
89.9
14.6
15.7
15.1
100.4
15.6
104.8
16.7
102.9
15.7
10
12.0
0
0
1Q/FY13
2Q
3Q
4Q
1Q/FY14
2Q
3Q
4Q
Sales for Other Small Precision Motors (LHS)
Sales for HDD Motors (LHS)
(
)
Operating Income (RHS)
40
Automotive, Appliance, Commercial and Industrial Products
(Billions of Yen)
Sales
Operating income
150
15
126.7
110.2
98.2
100
84.1
83.0
80.0
108.1
114.9
8.6
8.6
10.3 10
9.3
7.4
50
5.3
5.1
4.5
5
0
0
Q
1Q/FY13
2Q
Q
3Q
Q
4Q
Q
1Q/FY14
Q
2Q
Q
3Q
Q
4Q
Q
Sales for Automotive (LHS)
Sales for Appliance, Commercial, Industrial (LHS)
O
Operating
i Income
I
(RHS)
41
*Please refer to Notes on page 35.
Machinery
(Billions of Yen)
Sales
Operating income
30
26.1
23.8
20
19.9
23.5
22.3
3.3
3.1
2.9
4.9
22.7
19.7
27.7
6
4.7
4
3.8
2.8
2.8
10
2
0
0
1Q/FY13
2Q
3Q
Sales（LHS）
4Q
1Q/FY14
2Q
3Q
4Q
Operating Income (RHS)
42
Electronic & Optical Components
(Billions of Yen)
Sales
20
p
g income
Operating
17.5
19.9
15.6
0.8
10
19.8
16.2
16.3
1.1
1.7
16.7
15.8
14
1.4
1.3
1.3
1
-0.3
0
1Q/FY13
2
0
2Q
3Q
-10
4Q
1Q/FY14
2Q
3Q
4Q
-1
-0.8
-20
20
2
-2
Operating Income (RHS)
Sales（LHS）
43
Others
(Billions of Yen)
Sales
Operating income
3
2
0.6
2.0
2.0
1.8
1.8
1.7
1.6
1
1.5
0.2
02
0.2
0.0
02
0.2
00
0.0
0.4
1.8
0.3
0.2
0.2
0.1
0
0
1Q/FY13
2Q
3Q
Sales（LHS）
4Q
1Q/FY14
2Q
3Q
4Q
Operating Income (RHS)
44