Sign In  |  Register  |  About Los Altos  |  Contact Us

Los Altos, CA
September 01, 2020 1:26pm
7-Day Forecast | Traffic
  • Search Hotels in Los Altos

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2022

Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2022 through December 31, 2022.

The highlights are as follows:

  • Nine months net sales stood at record high of ¥1,699.7 billion, 20.8% higher Y/Y.
  • Nine months operating profit decreased 6.8% Y/Y to ¥124.4 billion.
  • Nine months profit before income taxes and profit attributable to owners of the parent increased 9.7% Y/Y to ¥141.9 billion, 4.8% Y/Y to ¥104.1 billion, respectively. Both stood at record high.
  • Due to the recent business environment surrounding the company, Nidec posted structural reform expenses, and revised its full-year forecast for FY2022.
  • Nidec is implementing WPR-X, the drastic reform on profitability, to tackle recent deteriorations of market environments with aims to reduce the fixed cost significantly and to make a V-shaped recovery in FY2023.
  • EPS: ¥180.72 (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)

%

 

2022

 

2021

   

2022

 

2021

 

Net sales

1,699,747

 

1,407,210

 

20.8 %

 

568,980

 

496,542

 

14.6%

Operating profit

124,404

 

133,487

 

(6.8) %

 

28,036

 

44,343

 

(36.8) %

Ratio of operating profit to net sales

7.3 %

 

9.5 %

 

 -

 

4.9 %

 

8.9%

 

 -

Profit before income taxes

141,944

 

129,410

 

9.7 %

 

23,569

 

42,307

 

(44.3) %

Ratio of profit before income taxes to net sales

8.4 %

 

9.2 %

 

-

 

4.1 %

 

8.5%

 

 -

Profit attributable to owners of the parent

104,077

 

99,312

 

4.8 %

 

17,428

 

32,700

 

(46.7) %

Ratio of profit attributable to owners of the parent to net sales

6.1 %

 

7.1 %

 

-

 

3.1 %

 

6.6%

 

 -

Earnings per share attributable to owners of the parent

- basic

180.72

 

169.73

 

-

 

30.32

 

55.94

 

-

Earnings per share attributable to owners of the parent

- diluted

180.72

 

169.73

 

-

 

30.32

 

55.94

 

-

Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2022:

https://www.nidec.com/en/ir/news/2023/news0124-03/

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, 2022 is scheduled for 09:00 a.m. EST on Tuesday, January 24, 2023. To listen to the webcast, please visit Nidec website at:

https://www.nidec.com/en/ir/event/conference

About Nidec Corporation

Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the nine months ended December 31, 2022, 19.6% of its consolidated sales were represented by small precision motors; 23.2% by automotive products; 40.1% by appliance, commercial and industrial products; 13.1% by machinery; 3.8% 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 and CEO.

Contacts

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 LosAltos.com & California Media Partners, LLC. All rights reserved.