NJDCY - Nidec Announces Financial Results for Fiscal First Quarter Ended June 30 2021
KYOTO, Japan, July 21, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2021.
The highlights are as follows:
- Net sales stood at a record high of ¥447.5 billion, 32.8% higher Y/Y. Operating profit significantly increased 60.3% Y/Y to ¥44.6 billion.
- Q1 quarterly operating profit ratio was 10.0% due to enhanced profitability through WPR4 program implemented since FY20, and sales recovery. Double-digit operating profit ratio was successfully maintained for four consecutive quarters.
- Profit attributable to owners of the parent increased 66.8% Y/Y to ¥33.5 billion.
- EPS: ¥57.14 (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 % |
| 2021 |
| 2020 |
| Net sales |
| 447,470 |
| 336,876 |
| 32.8% |
| Operating profit |
| 44,555 |
| 27,793 |
| 60.3 % |
| Ratio of operating profit to net sales |
| 10.0% |
| 8.3% |
| - |
| Profit before income taxes |
| 43,752 |
| 27,410 |
| 59.6% |
| Ratio of profit before income taxes to net sales |
| 9.8% |
| 8.1% |
| - |
| Profit attributable to owners of the parent |
| 33,451 |
| 20,058 |
| 66.8 % |
| Ratio of profit attributable to owners of the parent to net sales |
| 7.5% |
| 6.0% |
| - |
| Earnings per share attributable to owners of the parent -Basic |
| 57.14 |
| 34.24 |
| - |
| Earnings per share attributable to owners of the parent -Diluted |
| 57.14 |
| 34.24 |
| - |
Full copy of Nidec’s financial statements for the three-month period ended June 30, 2021:
https://www.nidec.com/en/ir/news/2021/news0721-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2021 is scheduled for 09:00 a.m. EDT on Wednesday, July 21, 2021. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conference
About Nidec Corporation
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2021, 22.6% of its consolidated sales were represented by small precision motors; 21.8% by automotive products; 41.7% by appliance, commercial and industrial products; 10.0% by machinery; 3.7% 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.
| Contact: |
| Masahiro Nagayasu |
| General Manager |
| Investor Relations |
| +81-75-935-6140 |
| ir@nidec.com |