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 fiscal year ended March 31, 2023.
The highlights are as follows:
- Net sales stood at a record high of �2,242.8 billion, 16.9% higher Y/Y.
- Operating profit decreased 41.3% Y/Y to �100.1 billion due to structural reform expenses of �75.7 billion.
- Profit before income taxes decreased 29.1% Y/Y to �120.6 billion after foreign currency gain of �20 billion posted.
- Profit attributable to owners of the parent decreased 66.9% Y/Y to �45.0 billion after income tax expenses of �75.0 billion and losses from discontinued operations of �2.0 billion.
- Continue WPR-X, the drastic reform on profitability, and aim to make a V-shaped recovery in FY2023.
- EPS: �78.19 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
Yen in millions, except for per share amounts and percentages |
Year ended |
� |
Increase |
� |
Three months ended |
� |
Increase |
||||
? |
2023 |
� |
2022 |
� | � |
2023 |
� |
2022 |
� | ||
Net sales |
2,242,824 |
� |
1,918,174 |
� |
16.9% |
� |
543,077 |
� |
510,964 |
� |
6.3 % |
Operating profit |
100,081 |
� |
170,374 |
� |
(41.3)% |
� |
(24,323) |
� |
36,887 |
� |
- |
Ratio of operating profit to net sales |
4.5% |
� |
8.9% |
� |
- |
� |
(4.5)% |
� |
7.2% |
� |
- |
Profit before income taxes |
120,593 |
� |
170,032 |
� |
(29.1)% |
� |
(21,351) |
� |
40,622 |
� |
- |
Ratio of profit before income taxes to net sales |
5.4% |
� |
8.9% |
� |
- |
� |
(3.9) % |
� |
8.0% |
� |
- |
Profit attributable to owners of the parent |
45,003 |
� |
135,759 |
� |
(66.9)% |
� |
(59,074) |
� |
36,447 |
� |
- |
Ratio of profit attributable to owners of the parent to net sales |
2.0% |
� |
7.1% |
� |
- |
� |
(10.9)% |
� |
7.1 % |
� |
- |
Earnings per share attributable to owners of the parent |
78.19 |
� |
232.40 |
� |
- |
� |
(102.82) |
� |
62.70 |
- |
|
Earnings per share attributable to owners of the parent |
78.19 |
� |
232.40 |
� |
- |
� |
(102.82) |
� |
62.70 |
� |
- |
Full copy of Nidec�s financial statements for the year ended March 31, 2023:
https://www.nidec.com/en/ir/news/2023/news0424-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec�s financial results for the fiscal year ended March 31, 2023 is scheduled for 09:00 a.m. EDT on Tuesday, April 25, 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 year ended March 31, 2023, 19.0% of its consolidated sales were represented by small precision motors; 23.2% by automotive products; 40.8% by appliance, commercial and industrial products; 13.2% 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
[email protected]