Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2023 through December 31, 2023.
The highlights are as follows:
- We achieved record-high nine months consolidated net sales, operating profit, profit before income taxes and profit attributable to owners of the parent.
- For the Battery EV related business, we implement a strategic shift to improve the financial soundness and profitability. Assuming that structural reform expenses will occur, we revised our fiscal 2023 earnings forecasts.
- We revised upward year-end dividend forecast for the year ending March 31, 2024 to 40 yen (increased by 5 yen) making the projected aggregate annual dividend 75 yen per share.
- EPS: ¥253.93 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
Yen in millions, except for per share amounts and percentages |
Nine months ended
December 31,
|
Increase
%
|
Three months ended
December 31,
|
Increase
|
||||||||
|
2023 |
2022 |
2023 |
2022 |
||||||||
Net sales |
1,754,688 |
1,699,747 |
3.2% |
594,026 |
568,980 |
4.4% |
||||||
Operating profit |
169,321 |
124,404 |
36.1% |
53,562 |
28,036 |
91.0% |
||||||
Ratio of operating profit to net sales |
9.6% |
7.3% |
- |
9.0% |
4.9% |
- |
||||||
Profit before income taxes |
193,744 |
141,944 |
36.5% |
48,408 |
23,569 |
105.4% |
||||||
Ratio of profit before income taxes to net sales |
11.0% |
8.4% |
- |
8.1% |
4.1% |
- |
||||||
Profit attributable to owners of the parent |
145,908 |
104,077 |
40.2% |
39,844 |
17,428 |
128.6% |
||||||
Ratio of profit attributable to owners of the parent to net sales |
8.3% |
6.1% |
- |
6.7% |
3.1% |
- |
||||||
Earnings per share attributable to owners of the parent
|
253.93 |
180.72 |
- |
69.34 |
30.32 |
- |
||||||
Earnings per share attributable to owners of the parent
|
- |
- |
- |
- |
- |
- |
||||||
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2023:
https://www.nidec.com/en/ir/news/2024/news0124-03/
A webcast (audio-only) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2023 is scheduled for 5:00 p.m. JST on Wednesday, January 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 nine months ended December 31, 2023, 18.2% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 40.9% by appliance, commercial and industrial products; 12.4% by machinery; 3.6% 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240123455600/en/
Contacts
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
