NJDCY - Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31 2019
KYOTO, Japan, Jan. 23, 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, 2019 through December 31, 2019.
The highlights are as follows:
- Nine-month net sales up 3% Y/Y to a record 1,159.6 billion yen.
- Three-month net sales up 5% Q/Q to a record 408.3 billion yen.
- Nine-month operating profit down 24% Y/Y to 94.8 billion, mainly due to additional R&D and start-up expenses associated with traction motors (totaling approx.12 billion yen), as well as to business acquisitions collectively costing approx. 3 billion yen.
- EPS: ¥171.62 (basic and diluted)
- Downward revision to FY2019 guidance.
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)% |
| ? |
| 2019 |
| 2018 |
| 2019 |
| 2018 |
| Net sales |
| 1,159,608 |
| 1,122,413 |
| 3.3 |
| % |
| 408,331 |
| 366,966 |
| 11.3 |
| % |
| Operating profit |
| 94,754 |
| 124,522 |
| (23.9 |
| %) |
| 32,654 |
| 28,354 |
| 15.2 |
| % |
| Ratio of operating profit to net sales |
| 8.2 |
| % |
| 11.1 |
| % |
| - |
| 8.0 |
| % |
| 7.7 |
| % |
| - |
| Profit before income taxes |
| 94,600 |
| 126,223 |
| (25.1 |
| %) |
| 30,957 |
| 30,480 |
| 1.6 |
| % |
| Ratio of profit before income taxes to net sales |
| 8.2 |
| % |
| 11.2 |
| % |
| - |
| 7.6 |
| % |
| 8.3 |
| % |
| - |
| Profit attributable to owners of the parent |
| 50,507 |
| 102,842 |
| (50.9 |
| %) |
| 23,020 |
| 24,414 |
| (5.7 |
| %) |
| Ratio of profit attributable to owners of the parent to net sales |
| 4.4 |
| % |
| 9.2 |
| % |
| - |
| 5.6 |
| % |
| 6.7 |
| % |
| - |
| Earnings per share attributable to owners of the parent -Basic |
| 171.62 |
| 348.64 |
| - |
| 78.22 |
| 82.96 |
| - |
| Earnings per share attributable to owners of the parent -Diluted |
| 171.62 |
| 348.64 |
| - |
| 78.22 |
| 82.96 |
| - |
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2019:
https://www.nidec.com/en/ir/news/2020/news0123-02/
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, 2019 is scheduled for 09:00 a.m. EST on Thursday, January 23, 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 nine months ended December 31, 2019, 28.9% of its consolidated sales were represented by small precision motors; 21.0% by automotive products; 36.0% by appliance, commercial and industrial products; 9.9% by machinery; 3.9% by electronic and optical components, and 0.3% 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 |