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Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2023

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, 2023 through September 30, 2023.

The highlights are as follows:

  • First half net sales stood at a record high of ¥1,160.7 billion, 2.6% higher Y/Y.
  • First half operating profit increased 20.1% Y/Y to ¥115.8 billion, marking a record high.
  • First half profit before income taxes increased 22.8 % Y/Y to ¥145.4 billion. Profit attributable to owners of the parent increased 22.4% Y/Y to ¥106.1 billion. Both stood at record highs.
  • EPS: ¥184.62 (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)%

 

2023

2022

2023

2022

Net sales--------------------------------------------------------------------------

1,160,662

1,130,767

2.6%

594,607

590,398

0.7%

Operating profit------------------------------------------------------------------

115,782

96,368

20.1%

55,630

51,708

7.6%

Ratio of operating profit to net sales---------------------------------------

10.0%

8.5%

 -

9.4%

8.8%

 -

Profit before income taxes-----------------------------------------------------

145,359

118,375

22.8%

59,278

61,386

(3.4)%

Ratio of profit before income taxes to net sales-------------------------

12.5%

10.5%

-

10.0%

10.4%

 -

Profit attributable to owners of the parent----------------------------------

106,081

86,649

22.4%

42,040

45,328

(7.3)%

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

9.1%

7.7%

-

7.1 %

7.7 %

 -

Earnings per share attributable to owners of the parent

- basic (Yen)---------------------------------------------------------------------

184.62

150.31

-

73.16

78.83

-

Earnings per share attributable to owners of the parent

- diluted (Yen)-------------------------------------------------------------------

184.62

150.31

-

73.16

78.83

 -

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/2023/news1023-02/

A webcast (audio-only) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2023 is scheduled for 10:00 a.m. JST on Tuesday, October 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 six months ended September 30, 2023, 17.8% of its consolidated sales were represented by small precision motors; 24.3% by automotive products; 41.3% by appliance, commercial and industrial products; 12.6% 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 and CEO.

Contacts

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

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