TechDogs-"Nidec Announces Financial Results For Fiscal Year Ended March 31, 2024"

Manufacturing Technology

Nidec Announces Financial Results For Fiscal Year Ended March 31, 2024

By Business Wire

Business Wire
Overall Rating

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
March 31,

Increase
(Decrease)
%

Three months ended
March 31,

Increase
(Decrease)
%

 

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
- basic (Yen)

218.22

78.12

-

(35.66)

(102.89)

-

Earnings per share attributable to owners of the parent
- diluted (Yen)

-

-

-

-

-

-

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

First published on Tue, Apr 23, 2024

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

Digital FactoryNidec Corporation Electronics Manufacturing Motor Manufacturer Electric Motor Drive Technology

References:

Join The Discussion

  • Dark
  • Light