Nidec Announces Voluntary Adoption of International Financial Reporting Standards (IFRS)
April 10 2016 - 7:45PM
Nidec Corporation (NYSE:NJ) (the ”Company”) announces today that it
has decided to voluntarily adopt IFRS to its consolidated financial
statements in lieu of the current US-GAAP following the board
resolution made at a meeting of the Board of Directors on April 9,
2016 to strengthen and improve the efficiency of financial
reporting. The company is due to disclose its consolidated
financial statements according to IFRS from the first quarter of
the fiscal year ending March 2017.
Reference: Disclosure schedule due to the transition to IFRS
(planned) April 2016: Consolidated results and supplementary
information for the year ended March 2016 (US
GAAP) May 2016: March 2016
Consolidated financial statements in the notice of shareholders’
meeting (US GAAP) June 2016: March 2016 Japanese Financial
Statements ("yuho") (US GAAP)July 2016: Consolidated results and
supplementary information for the first quarter ending June 2016
(fiscal year ending March 2017) (IFRS)August 2016: First quarter
financial reports for the year ending March 2017 (IFRS)
Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
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