Nidec Announces Financial Results for Fiscal Year Ended March 31, 2024
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, 2024.
The highlights are as follows:
- FY23 consolidated net sales and profit before income taxes stood at record highs.
- FY23 operating profit was 163.1 billion yen, as a result of 59.8 billion yen of structural reform expenses recorded due to strategic shift to improve the financial soundness and profitability of the Battery EV related business.
- We project 40 yen of interim dividend and 80 yen of aggregate annual dividend for the year ending March 31, 2025.
- EPS: ¥218.22 (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 | |||||||
|
| 2024 | 2023 | 2024 | 2023 | |||||||
| Net sales | 2,348,202 | 2,242,824 | 4.7% | 593,514 | 543,077 | 9.3% | |||||
| Operating profit | 163,106 | 100,028 | 63.1% | (6,172) | (24,376) | – | |||||
| Ratio of operating profit to net sales | 6.9% | 4.5% | – | (1.0%) | (4.5%) | – | |||||
| Profit before income taxes | 202,919 | 120,540 | 68.3% | 9,218 | (21,404) | – | |||||
| Ratio of profit before income taxes to net sales | 8.6% | 5.4% | – | 1.6% | (3.9%) | – | |||||
| Profit attributable to owners of the parent | 125,387 | 44,964 | 178.9% | (20,492) | (59,113) | – | |||||
| Ratio of profit attributable to owners of the parent to net sales | 5.3% | 2.0% | – | (3.5%) | (10.9%) | – | |||||
|
Earnings per share attributable to owners of the parent | 218.22 | 78.12 | – | (35.66) | (102.89) | – | |||||
|
Earnings per share attributable to owners of the parent | – | – | – | – | – | – | |||||
Full copy of Nidec’s financial statements for the year ended March 31, 2024:
https://www.nidec.com/en/ir/news/2024/news0423-02/
A webcast (audio-only) discussing Nidec’s financial results for the year ended March 31, 2024 is scheduled for 10:00 a.m. JST on Wednesday, April 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 year ended March 31, 2024, 17.7% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 41.1% by appliance, commercial and industrial products; 12.8% by machinery; 3.5% 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 Founder and Executive Chairman.
Contacts
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
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