NJDCY - Nidec Announces Financial Results for Fiscal Year Ended March 31 2021
KYOTO, Japan, April 22, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2021.
The highlights are as follows:
- Net sales stood at a record high of ¥1,618.1 billion, 5.4% higher Y/Y. Operating profit increased 47.4% Y/Y to ¥160.0 billion.
- Q4 quarterly operating profit ratio achieved 10.3% due to enhanced profitability through WPR4 program implemented since the start of FY20, and sales recovery. Double-digit operating profit ratio was successfully maintained for three consecutive quarters.
- Profit attributable to owners of the parent increased 108.7% Y/Y to ¥122.0 billion.
- EPS: ¥208.25 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
Yen in millions, except for per share amounts and percentages |
Year ended March 31, |
Increase (Decrease) % |
Three months ended March 31, |
Increase (Decrease)% |
2021 |
2020 |
2021 |
2020 |
Net sales |
1,618,064 |
1,534,800 |
5.4% |
433,073 |
375,192 |
15.4 % |
Operating profit |
160,011 |
108,558 |
47.4% |
44,476 |
15,354 |
189.7 % |
Ratio of operating profit to net sales |
9.9% |
7.1% |
- |
10.3% |
4.1 % |
- |
Profit before income taxes |
152,978 |
105,160 |
45.5% |
43,638 |
12,110 |
260.3 % |
Ratio of profit before income taxes to net sales |
9.5% |
6.9% |
- |
10.1 % |
3.2 % |
- |
Profit attributable to owners of the parent |
121,977 |
58,459 |
108.7% |
38,341 |
9,133 |
319.8% |
Ratio of profit attributable to owners of the parent to net sales |
7.5% |
3.8% |
- |
8.9 % |
2.4 % |
- |
Earnings per share attributable to owners of the parent -Basic |
208.25 |
99.37 |
- |
65.46 |
15.55 |
- |
Earnings per share attributable to owners of the parent -Diluted |
208.25 |
99.37 |
- |
65.46 |
15.55 |
- |
Full copy of Nidec’s financial statements for the year ended March 31, 2021:
https://www.nidec.com/en/ir/news/2021/news0422-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2021 is scheduled for 09:00 a.m. EDT on Thursday, April 22, 2021. 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 year ended March 31, 2021, 27.4% of its consolidated sales were represented by small precision motors; 22.1% by automotive products; 37.2% by appliance, commercial and industrial products; 9.3% by machinery; 3.8% 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