NJDCY - Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30 2020
KYOTO, Japan, Oct. 26, 2020 (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, 2020 through September 30, 2020.
The highlights are as follows:
- First half net sales and operating profit increased 0.1% Y/Y to ¥751.8 billion, 12.0% Y/Y to ¥69.2 billion, respectively. Both net sales and operating profit increased Y/Y.
- Q2 quarterly net sales increased 23.2% Q/Q to ¥414.9 billion, marking a record high. Operating profit increased 48.9% Q/Q to ¥41.4 billion due to contributions from comprehensive improvements on cost structure and optimization of fixed cost through WPR4 program. Double-digit operating profit ratio (10%) recovered
- Upward revision to full-year FY2020 financial forecasts
- EPS: ¥ 83.28 (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) % |
| 2020 |
| 2019 |
| 2020 |
| 2019 |
| Net sales |
| 751,794 |
| 751,277 |
| 0.1% |
| 414,918 |
| 390,403 |
| 6.3% |
| Operating profit |
| 69,180 |
| 61,787 |
| 12.0% |
| 41,387 |
| 34,155 |
| 21.2% |
| Ratio of operating profit to net sales |
| 9.2 % |
| 8.2 % |
| - |
| 10.0% |
| 8.7% |
| - |
| Profit before income taxes |
| 66,005 |
| 63,330 |
| 4.2% |
| 38,595 |
| 32,395 |
| 19.1% |
| Ratio of profit before income taxes to net sales |
| 8.8% |
| 8.4% |
| - |
| 9.3% |
| 8.3% |
| - |
| Profit attributable to owners of the parent |
| 48,783 |
| 27,227 |
| 79.2% |
| 28,725 |
| 23,943 |
| 20.0% |
| Ratio of profit attributable to owners of the parent to net sales |
| 6.5 % |
| 3.6 % |
| - |
| 6.9% |
| 6.1% |
| - |
| Earnings per share attributable to owners of the parent - basic |
| 83.28 |
| 46.26 |
| - |
| 49.04 |
| 40.67 |
| - |
| Earnings per share attributable to owners of the parent - diluted |
| 83.28 |
| 46.26 |
| - |
| 49.04 |
| 40.67 |
| - |
Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2020:
https://www.nidec.com/en/ir/news/2020/news1026-02/
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, 2020 is scheduled for 09:00 a.m. EDT on Monday, October 26, 2020. 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, 2020, 29.7% of its consolidated sales were represented by small precision motors; 19.8% by automotive products; 36.4% by appliance, commercial and industrial products; 9.9% by machinery; 3.9% 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 |