KYOTO, Japan, Oct. 26, 2023 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2023 through September 30, 2023.
The highlights are as follows:
- First half net sales stood at a record high of ¥910.7 billion, 21.1% higher Y/Y. Operating profit increased 30.4% Y/Y to ¥90.2 billion.
- Quarterly operating profit ratio of Appliance, Commercial and Industrial Products has improved steadily. 1H/FY21 operating profit ratio of the product category reached 10.7%.
- Profit attributable to owners of the parent increased 38.6% Y/Y to ¥67.6 billion.
- Upward revision to full-year FY2023 financial forecasts.
- EPS: ¥115.49 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions, except for per share amounts and percentages | Six months ended September 30, |
Increase (Decrease) % |
Three months ended September 30, |
Increase (Decrease) % |
|||||||||
| 2021 |
2020 |
2021 |
2020 |
||||||||||
| Net sales | 910,668 | 751,794 | 21.1% | 463,198 | 414,918 | 11.6% | |||||||
| Operating profit | 90,196 | 69,174 | 30.4% | 45,641 | 41,381 | 10.3% | |||||||
| Ratio of operating profit to net sales | 9.9% | 9.2% | – | 9.9% | 10.0% | – | |||||||
| Profit before income taxes | 88,155 | 65,999 | 33.6% | 44,403 | 38,589 | 15.1% | |||||||
| Ratio of profit before income taxes to net sales | 9.7% | 8.8% | – | 9.6% | 9.3% | – | |||||||
| Profit attributable to owners of the parent | 67,610 | 48,778 | 38.6% | 34,159 | 28,720 | 18.9% | |||||||
| Ratio of profit attributable to owners of the parent to net sales | 7.4% | 6.5% | – | 7.4% | 6.9% | – | |||||||
| Earnings per share attributable to owners of the parent – basic |
115.49 | 83.28 | – | 58.36 | 49.03 | – | |||||||
| Earnings per share attributable to owners of the parent – diluted |
115.49 | 83.28 | – | 58.36 | 49.03 | – | |||||||
Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2023:
https://www.nidec.com/en/ir/news/2021/news1026-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2023 is scheduled for 09:00 a.m. EDT on Tuesday, October 26, 2023. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conference
About Nidec Corporation
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2023, 22.5% of its consolidated sales were represented by small precision motors; 21.7% by automotive products; 41.5% by appliance, commercial and industrial products; 10.5% by machinery; 3.6% by electronic and optical components, and 0.2% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current Chairman.
| Contact: | |
| Masahiro Nagayasu | |
| General Manager | |
| Investor Relations | |
| +81-75-935-6140 | |
| [email protected] | |
