NJDCY - Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30 2023
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 September 30, 2023.
The highlights are as follows:
- First half net sales stood at a record high of ¥1,160.7 billion, 2.6% higher Y/Y.
- First half operating profit increased 20.1% Y/Y to ¥115.8 billion, marking a record high.
- First half profit before income taxes increased 22.8 % Y/Y to ¥145.4 billion. Profit attributable to owners of the parent increased 22.4% Y/Y to ¥106.1 billion. Both stood at record highs.
- EPS: ¥184.62 (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)% |
|
|
| 2023 |
| 2022 |
| 2023 |
| 2022 |
| Net sales -------------------------------------------------------------------------- |
| 1,160,662 |
| 1,130,767 |
| 2.6% |
| 594,607 |
| 590,398 |
| 0.7% |
| Operating profit ------------------------------------------------------------------ |
| 115,782 |
| 96,368 |
| 20.1% |
| 55,630 |
| 51,708 |
| 7.6% |
| Ratio of operating profit to net sales --------------------------------------- |
| 10.0% |
| 8.5% |
| - |
| 9.4% |
| 8.8% |
| - |
| Profit before income taxes ----------------------------------------------------- |
| 145,359 |
| 118,375 |
| 22.8% |
| 59,278 |
| 61,386 |
| (3.4)% |
| Ratio of profit before income taxes to net sales ------------------------- |
| 12.5% |
| 10.5% |
| - |
| 10.0% |
| 10.4% |
| - |
| Profit attributable to owners of the parent ---------------------------------- |
| 106,081 |
| 86,649 |
| 22.4% |
| 42,040 |
| 45,328 |
| (7.3)% |
| Ratio of profit attributable to owners of the parent to net sales ------------------------------------------------------------ |
| 9.1% |
| 7.7% |
| - |
| 7.1 % |
| 7.7 % |
| - |
| Earnings per share attributable to owners of the parent |
| 184.62 |
| 150.31 |
| - |
| 73.16 |
| 78.83 |
| - |
| Earnings per share attributable to owners of the parent |
| 184.62 |
| 150.31 |
| - |
| 73.16 |
| 78.83 |
| - |
Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2023:
https://www.nidec.com/en/ir/news/2023/news1023-02/
A webcast (audio-only) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2023 is scheduled for 10:00 a.m. JST on Tuesday, October 24, 2023. 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 six months ended September 30, 2023, 17.8% of its consolidated sales were represented by small precision motors; 24.3% by automotive products; 41.3% by appliance, commercial and industrial products; 12.6% 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231022051168/en/
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com