Nidec Sales Up 14.6% in Fiscal 2016

Company's profits jump 20.8 percent compared to fiscal 2015.

Japan-based motor manufacturer Nidec Corp. (NYSE:NJ) reported sales for the fiscal year ended March 31 of ¥1.2 trillion (US$10.6 billion), up 14.6 percent from fiscal 2015. Profit was ¥91.8 billion (US$824.4 million).

The company reported fourth-quarter sales of ¥282.9 billion (US$2.5 billion), up 3 percent from the same quarter a year ago. Profit was ¥20.9 billion (US$187.5 million) up 16.1 percent from the prior-year quarter.

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