TechDogs-"Nidec Announces Financial Results For Fiscal First Quarter Ended June 30, 2023"

Manufacturing Technology

Nidec Announces Financial Results For Fiscal First Quarter Ended June 30, 2023

By Business Wire

Business Wire
Overall Rating

KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2023.

The highlights are as follows:

  • Net sales increased 4.8% Y/Y to ¥566.1 billion.
  • Operating profit increased 34.7% Y/Y to ¥60.2 billion, marking a record high on a quarterly basis.
  • Profit before income taxes increased 51.0% Y/Y to ¥86.1 billion after foreign currency gain of ¥24.3 billion posted, and marked a record high on a quarterly basis.
  • Profit attributable to owners of the parent increased 55.0% Y/Y to ¥64.0 billion, marking a record high on a quarterly basis.
  • Quarterly operating profit of Appliance, Commercial and Industrial Products segment, one of our mid-term growth drivers, marked a record high.
  • EPS: ¥111.45 (basic and diluted)

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions except for per share amounts and percentages

Three months ended

June 30

Change

%

2023

2022

Net sales

566,055

540,369

4.8%

Operating profit

60,152

44,660

34.7%

Ratio of operating profit to net sales

10.6%

8.3%

-

Profit before income taxes

86,081

56,989

51.0%

Ratio of profit before income taxes to net sales

15.2%

10.5%

-

Profit attributable to owners of the parent

64,041

41,321

55.0 %

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

11.3%

7.6%

-

Earnings per share attributable to owners of the parent

-Basic

111.45

71.50

-

Earnings per share attributable to owners of the parent

-Diluted

111.45

71.50

-

Full copy of Nidec’s financial statements for the three-month period ended June 30, 2023:
https://www.nidec.com/en/ir/news/2023/news0720-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2023 is scheduled for 09:00 a.m. EDT on Thursday, July 20, 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 first quarter ended June 30, 2023, 16.9% of its consolidated sales were represented by small precision motors; 24.3% by automotive products; 42.2% by appliance, commercial and industrial products; 12.5% by machinery; 3.9% 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

First published on Thu, Jul 20, 2023

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Nidec Corporation Appliances Electrical Electronics Manufacturing Electronic And Optical Components

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