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Nidec Announces Differences between Projected and Actual Financial Results for First-Half FY2023

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KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company”) today announced differences between its financial forecast for the six months ended September 30, 2023 (previously announced on April 24, 2023) and the actual financial results released today.


The details are as follows: 

Differences between Projected and Actual Financial Results for Six Months Ended September 30, 2023 (IFRS) 

From April 1, 2023 to September 30, 2023 (Millions of yen, except for per share amounts and percentages)

 

For the six months ended September 30, 2023

(Reference)

For the six months

ended September 30, 2022

 

Previous

forecast

(April 24, 2023)

Actual

Change

(amount)

Change

(percent)

Net sales

1,000,000

1,160,662

160,662

16.1%

1,130,767

Operating profit

100,000

115,782

15,782

15.8%

96,368

Profit before income taxes

95,000

145,359

50,359

53.0%

118,375

Profit attributable to

owners of the parent

74,000

106,081

32,081

43.4%

86,649

Earnings per share

attributable to owners of

the parent-Basic

128.79

184.62

-

-

150.31

Factors behind the differences between projected and actual six months results

The Company’s consolidated net sales and operating profit for the six months ended September 30, 2023 exceeded the previous forecast (announced on April 24, 2023). This is because the yen depreciated more than expected against both the US dollar and the euro, and the Company improved sales amount, price and cost. Profit before income taxes and profit attributable to owners of the parent also exceeded the forecast after posting foreign currency gain of approx. 26 billion yen.

Contacts

Nidec Corporation

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

[email protected]

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