KYOTO, Japan–(BUSINESS WIRE)–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.
Contacts
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
[email protected]