KYOTO, Japan, Jan. 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 December 31, 2023.
The highlights are as follows:
- Nine months net sales stood at record high of ¥1,407.2 billion, 18.8% higher Y/Y.
- Nine months operating profit and profit before income taxes increased 16.6% Y/Y to ¥134.6 billion, 19.4% Y/Y to ¥130.6 billion, respectively. Both stood at record high.
- Q3 quarterly net sales increased 7.2% Q/Q to ¥496.5 billion, marking a record high for three consecutive quarters.
- Upward revision to year-end dividend forecast by ¥5 per share, resulting in the projected aggregate annual dividend ¥65 for FY2021.
- EPS: ¥171.67 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions, except for per share amounts and percentages | Nine months ended December 31, |
Increase (Decrease) % |
Three months ended December 31, |
Increase (Decrease) % |
||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||
| Net sales | 1,407,210 | 1,184,991 | 18.8 | % | 496,542 | 433,197 | 14.6 | % | ||||
| Operating profit | 134,631 | 115,509 | 16.6 | % | 44,308 | 46,335 | (4.4 | %) | ||||
| Ratio of operating profit to net sales | 9.6 | % | 9.7 | % | – | 8.9 | % | 10.7 | % | – | ||
| Profit before income taxes | 130,554 | 109,314 | 19.4 | % | 42,272 | 43,315 | (2.4 | %) | ||||
| Ratio of profit before income taxes to net sales | 9.3 | % | 9.2 | % | – | 8.5 | % | 10.0 | % | – | ||
| Profit attributable to owners of the parent | 100,443 | 83,615 | 20.1 | % | 32,676 | 34,837 | (6.2 | %) | ||||
| Ratio of profit attributable to owners of the parent to net sales | 7.1 | % | 7.1 | % | – | 6.6 | % | 8.0 | % | – | ||
| Earnings per share attributable to owners of the parent | ||||||||||||
| – basic | 171.67 | 142.75 | – | 55.90 | 59.48 | – | ||||||
| Earnings per share attributable to owners of the parent | ||||||||||||
| – diluted | 171.67 | 142.75 | – | 55.90 | 59.48 | – | ||||||
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2023:
https://www.nidec.com/en/ir/news/2022/news0126-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2023 is scheduled for 09:00 a.m. EST on Wednesday, January 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 nine months ended December 31, 2023, 22.8% of its consolidated sales were represented by small precision motors; 21.4% by automotive products; 40.9% by appliance, commercial and industrial products; 11.0% by machinery; 3.7% 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 |
| ir@nidec.com |
