NJDCY - Nidec Announces Financial Results for Fiscal Year Ended March 31 2024
Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2024.
The highlights are as follows:
- FY23 consolidated net sales and profit before income taxes stood at record highs.
- FY23 operating profit was 163.1 billion yen, as a result of 59.8 billion yen of structural reform expenses recorded due to strategic shift to improve the financial soundness and profitability of the Battery EV related business.
- We project 40 yen of interim dividend and 80 yen of aggregate annual dividend for the year ending March 31, 2025.
- EPS: ¥218.22 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions, except for per share amounts and percentages |
| Year ended |
| Increase |
| Three months ended |
| Increase |
|
|
| 2024 |
| 2023 |
| 2024 |
| 2023 |
| Net sales |
| 2,348,202 |
| 2,242,824 |
| 4.7% |
| 593,514 |
| 543,077 |
| 9.3% |
| Operating profit |
| 163,106 |
| 100,028 |
| 63.1% |
| (6,172) |
| (24,376) |
| - |
| Ratio of operating profit to net sales |
| 6.9% |
| 4.5% |
| - |
| (1.0%) |
| (4.5%) |
| - |
| Profit before income taxes |
| 202,919 |
| 120,540 |
| 68.3% |
| 9,218 |
| (21,404) |
| - |
| Ratio of profit before income taxes to net sales |
| 8.6% |
| 5.4% |
| - |
| 1.6% |
| (3.9%) |
| - |
| Profit attributable to owners of the parent |
| 125,387 |
| 44,964 |
| 178.9% |
| (20,492) |
| (59,113) |
| - |
| Ratio of profit attributable to owners of the parent to net sales |
| 5.3% |
| 2.0% |
| - |
| (3.5%) |
| (10.9%) |
| - |
| Earnings per share attributable to owners of the parent |
| 218.22 |
| 78.12 |
| - |
| (35.66) |
| (102.89) |
| - |
| Earnings per share attributable to owners of the parent |
| - |
| - |
| - |
| - |
| - |
| - |
Full copy of Nidec’s financial statements for the year ended March 31, 2024:
https://www.nidec.com/en/ir/news/2024/news0423-02/
A webcast (audio-only) discussing Nidec’s financial results for the year ended March 31, 2024 is scheduled for 10:00 a.m. JST on Wednesday, April 24, 2024. 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 year ended March 31, 2024, 17.7% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 41.1% by appliance, commercial and industrial products; 12.8% by machinery; 3.5% 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 Founder and Executive Chairman.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240422741531/en/
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com