NJDCY - Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30 2022
KYOTO, Japan, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2022 through September 30, 2022.
The highlights are as follows:
?First half net sales stood at a record high of ¥1,130.8 billion, 24.2% higher Y/Y.
?First half operating profit increased 8.1% Y/Y to ¥96.4 billion, marking a record high.
?First half profit before income taxes and profit attributable to owners of the parent increased 35.9 % Y/Y to ¥118.4 billion, 30.1% Y/Y to ¥86.6 billion, respectively. Both stood at record highs.
?Quarterly net sales, operating profit, profit before income taxes and profit attributable to owners of the parent recorded all-time highs.
?EPS: ¥150.31 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions, except for per share amounts and percentages |
| Six months ended September 30, |
| Increase (Decrease) % |
| Three months ended September 30, |
| Increase (Decrease)% |
| 2022 |
| 2021 |
| 2022 |
| 2021 |
| Net sales |
| 1,130,767 |
| 910,668 |
| 24.2% |
| 590,398 |
| 463,198 |
| 27.5% |
| Operating profit |
| 96,368 |
| 89,144 |
| 8.1% |
| 51,708 |
| 44,589 |
| 16.0% |
| Ratio of operating profit to net sales |
| 8.5% |
| 9.8 % |
| - |
| 8.8% |
| 9.6% |
| - |
| Profit before income taxes |
| 118,375 |
| 87,103 |
| 35.9% |
| 61,386 |
| 43,351 |
| 41.6% |
| Ratio of profit before income taxes to net sales |
| 10.5% |
| 9.6% |
| - |
| 10.4% |
| 9.4% |
| - |
| Profit attributable to owners of the parent |
| 86,649 |
| 66,612 |
| 30.1% |
| 45,328 |
| 33,161 |
| 36.7% |
| Ratio of profit attributable to owners of the parent to net sales |
| 7.7% |
| 7.3 % |
| - |
| 7.7 % |
| 7.2% |
| - |
| Earnings per share attributable to owners of the parent - basic |
| 150.31 |
| 113.79 |
| - |
| 78.83 |
| 56.65 |
| - |
| Earnings per share attributable to owners of the parent - diluted |
| 150.31 |
| 113.79 |
| - |
| 78.83 |
| 56.65 |
| - |
Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2022:
https://www.nidec.com/en/ir/news/2022/news1024-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2022 is scheduled for 09:00 a.m. EDT on Monday, October 24, 2022. 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 six months ended September 30, 2022, 20.0% of its consolidated sales were represented by small precision motors; 22.5% by automotive products; 40.1% by appliance, commercial and industrial products; 13.6% 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 and CEO.
| Contact: |
| Masahiro Nagayasu |
| General Manager |
| Investor Relations |
| +81-75-935-6140 |
| ir@nidec.com |