Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2024
24 July 2024 - 2:12AM
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, 2024.
The highlights are as follows:
- Consolidated net sales and operating profit
stood at record highs under the new management.
- Operating profit increased due to a shift to a
highly profitable business portfolio in the Small Precision Motors,
and the recording of gains on revaluation of shares following the
consolidation of Nidec PSA eMotors SAS, a joint venture with
Stellantis.
- Upward revision to FY24 Full-year and the 1H
forecast.
Selected Consolidated Results of Operations (Unaudited)
(IFRS-Based)
Yen in millions except for per share
amounts and percentages
Three months ended
June 30
Change
%
2024
2023
Net sales
648,166
564,362
14.8%
Operating profit
60,259
60,176
0.1%
Ratio of operating profit to net sales
9.3%
10.7%
-
Profit before income taxes
78,603
86,105
(8.7)%
Ratio of profit before income taxes to net
sales
12.1%
15.3%
-
Profit attributable to owners of the
parent
56,044
64,066
(12.5)%
Ratio of profit attributable to owners of
the parent to net sales
8.6%
11.4%
-
Earnings per share attributable to owners
of the parent
-Basic
97.5
111.5
-
Earnings per share attributable to owners
of the parent
-Diluted
97.5
111.5
-
*
Each of the shares of the Company’s common
stock held by shareholders included or recorded in the final
register of shareholders as of the record date of September 30,
2024 will be split into two shares (Effective date is October 1,
2024). The above “Earnings per share attributable to owners of the
parent-basic” and “Earnings per share attributable to owners of the
parent-diluted” for the three months ended June 30, 2024 and the
three months ended June 30, 2023 do not consider the share
split.
Full copy of Nidec’s financial statements for the three-month
period ended June 30, 2024:
https://www.nidec.com/en/ir/news/2024/news0723-02/
A conference call webcast (audio-only, user-control slides
attached) discussing Nidec’s financial results for the fiscal first
quarter ended June 30, 2024 is scheduled for Wednesday, July 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 first quarter
ended June 30, 2024, 18.3% of its consolidated sales were
represented by small precision motors; 25.6% by automotive
products; 41.0% by appliance, commercial and industrial products;
11.6% by machinery; 3.4% by electronic and optical components, and
0.1% by the remaining products lines. Nidec was founded in Kyoto,
Japan in 1973 by Shigenobu Nagamori, its Founder and Chairman of
the Board.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240723048728/en/
Teruaki Urago General Manager Investor Relations +81-75-935-6140
ir@nidec.com