NJDCY - Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31 2021
KYOTO, Japan, Jan. 26, 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, 2021 through December 31, 2021.
The highlights are as follows:
- Nine months net sales stood at record high of ¥1,407.2 billion, 18.8% higher Y/Y.
- Nine months operating profit and profit before income taxes increased 16.6% Y/Y to ¥134.6 billion, 19.4% Y/Y to ¥130.6 billion, respectively. Both stood at record high.
- Q3 quarterly net sales increased 7.2% Q/Q to ¥496.5 billion, marking a record high for three consecutive quarters.
- Upward revision to year-end dividend forecast by ¥5 per share, resulting in the projected aggregate annual dividend ¥65 for FY2021.
- EPS: ¥171.67 (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 (Decrease) % |
| Three months ended December 31, |
| Increase (Decrease) % |
| 2021 |
| 2020 |
| 2021 |
| 2020 |
| Net sales |
| 1,407,210 |
| 1,184,991 |
| 18.8 |
| % |
| 496,542 |
| 433,197 |
| 14.6 |
| % |
| Operating profit |
| 134,631 |
| 115,509 |
| 16.6 |
| % |
| 44,308 |
| 46,335 |
| (4.4 |
| %) |
| Ratio of operating profit to net sales |
| 9.6 |
| % |
| 9.7 |
| % |
| - |
| 8.9 |
| % |
| 10.7 |
| % |
| - |
| Profit before income taxes |
| 130,554 |
| 109,314 |
| 19.4 |
| % |
| 42,272 |
| 43,315 |
| (2.4 |
| %) |
| Ratio of profit before income taxes to net sales |
| 9.3 |
| % |
| 9.2 |
| % |
| - |
| 8.5 |
| % |
| 10.0 |
| % |
| - |
| Profit attributable to owners of the parent |
| 100,443 |
| 83,615 |
| 20.1 |
| % |
| 32,676 |
| 34,837 |
| (6.2 |
| %) |
| Ratio of profit attributable to owners of the parent to net sales |
| 7.1 |
| % |
| 7.1 |
| % |
| - |
| 6.6 |
| % |
| 8.0 |
| % |
| - |
| Earnings per share attributable to owners of the parent |
| - basic |
| 171.67 |
| 142.75 |
| - |
| 55.90 |
| 59.48 |
| - |
| Earnings per share attributable to owners of the parent |
| - diluted |
| 171.67 |
| 142.75 |
| - |
| 55.90 |
| 59.48 |
| - |
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2021:
https://www.nidec.com/en/ir/news/2022/news0126-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2021 is scheduled for 09:00 a.m. EST on Wednesday, January 26, 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 nine months ended December 31, 2021, 22.8% of its consolidated sales were represented by small precision motors; 21.4% by automotive products; 40.9% by appliance, commercial and industrial products; 11.0% 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 |