Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2023
KYOTO, Japan–(BUSINESS WIRE)–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 December 31, 2023.
The highlights are as follows:
- We achieved record-high nine months consolidated net sales, operating profit, profit before income taxes and profit attributable to owners of the parent.
- For the Battery EV related business, we implement a strategic shift to improve the financial soundness and profitability. Assuming that structural reform expenses will occur, we revised our fiscal 2023 earnings forecasts.
- We revised upward year-end dividend forecast for the year ending March 31, 2024 to 40 yen (increased by 5 yen) making the projected aggregate annual dividend 75 yen per share.
- EPS: ¥253.93 (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
% | Three months ended
December 31, |
Increase | ||||||||
|
| 2023 | 2022 | 2023 | 2022 | ||||||||
| Net sales | 1,754,688 | 1,699,747 | 3.2% | 594,026 | 568,980 | 4.4% | ||||||
| Operating profit | 169,321 | 124,404 | 36.1% | 53,562 | 28,036 | 91.0% | ||||||
| Ratio of operating profit to net sales | 9.6% | 7.3% | - | 9.0% | 4.9% | - | ||||||
| Profit before income taxes | 193,744 | 141,944 | 36.5% | 48,408 | 23,569 | 105.4% | ||||||
| Ratio of profit before income taxes to net sales | 11.0% | 8.4% | – | 8.1% | 4.1% | - | ||||||
| Profit attributable to owners of the parent | 145,908 | 104,077 | 40.2% | 39,844 | 17,428 | 128.6% | ||||||
| Ratio of profit attributable to owners of the parent to net sales | 8.3% | 6.1% | – | 6.7% | 3.1% | - | ||||||
|
Earnings per share attributable to owners of the parent | 253.93 | 180.72 | – | 69.34 | 30.32 | – | ||||||
|
Earnings per share attributable to owners of the parent | - | - | - | - | - | - | ||||||
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/2024/news0124-03/
A webcast (audio-only) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2023 is scheduled for 5:00 p.m. JST on Wednesday, January 24, 2024. 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, 2023, 18.2% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 40.9% by appliance, commercial and industrial products; 12.4% 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 and CEO.
Contacts
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
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