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  "documentTitle": "Nidec Corp. (6594 JP)",
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  "authorName": "Carson C. Block",
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  "presentationDate": "2016-12-13 00:00:00",
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  "notes": "Includes footnotes 48-51 referencing SEC filings and SAIC data.",
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      "text": "Subsequent to the move, Dalian’s OP margin declined from 15.4% in FY 2009 to 10.6% in FY 2010, indicating that the Automotive portion of Dalian was much higher margin than the Small Precision Motors portion.",
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      "text": "OP Margin: 10.9%",
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      "text": "Nidec Dalian. With Nidec Dalian ('Dalian'), Nidec could be using a Small Precision Motors business to inflate the operating profit margins of the Automotive product group.",
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      "kind": "paragraph",
      "text": "In the FY 2014 20-F. Nidec's disclosure of the transfer strongly implies that the sole difference in the two sets of Motor segment numbers is due to the transfer. Below are the financials:",
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      "text": "One of the subsidiaries previously reported as part of this segment has been transferred to the Nidec Motors & Actuators segment for the year ended March 31, 2015. All prior period segment information has been reclassified in accordance with the current period presentation to enable comparisons between the relevant amounts. — FY 2014 20-F, p. 64",
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      "text": "Footnotes 48-51 regarding FY 2014 20-F, Nidec earnings archives, and SAIC data.",
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      "text": "Original FY 2012, Restated FY 2012, Subsidiary Implied, Original FY 2013, Restated FY 2013, Subsidiary Implied. Nidec Motor Total Revenue, Nidec Motor Operating Profit, OP Margin.",
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