Company Website:
https://www.nidec.com/en/
KYOTO, Japan -- (Business Wire)
Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2023.
The highlights are as follows:
-
Net sales increased 4.8% Y/Y to ¥566.1 billion.
-
Operating profit increased 34.7% Y/Y to ¥60.2 billion, marking a record high on a quarterly basis.
-
Profit before income taxes increased 51.0% Y/Y to ¥86.1 billion after foreign currency gain of ¥24.3 billion posted, and marked a record high on a quarterly basis.
-
Profit attributable to owners of the parent increased 55.0% Y/Y to ¥64.0 billion, marking a record high on a quarterly basis.
-
Quarterly operating profit of Appliance, Commercial and Industrial Products segment, one of our mid-term growth drivers, marked a record high.
-
EPS: ¥111.45 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited)(IFRS-Based)
Yen in millions except for per share amounts and percentages
| Three months ended June 30 | Change % |
| 2023 | 2022 |
Net sales
|
566,055
|
540,369
|
4.8%
|
Operating profit
|
60,152
|
44,660
|
34.7%
|
Ratio of operating profit to net sales
|
10.6%
|
8.3%
|
-
|
Profit before income taxes
|
86,081
|
56,989
|
51.0%
|
Ratio of profit before income taxes to net sales
|
15.2%
|
10.5%
|
-
|
Profit attributable to owners of the parent
|
64,041
|
41,321
|
55.0 %
|
Ratio of profit attributable to owners of the parent to net sales
|
11.3%
|
7.6%
|
-
|
Earnings per share attributable to owners of the parent
-Basic
|
111.45
|
71.50
|
-
|
Earnings per share attributable to owners of the parent
-Diluted
|
111.45
|
71.50
|
-
|
Full copy of Nidec’s financial statements for the three-month period ended June 30, 2023:
https://www.nidec.com/en/ir/news/2023/news0720-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2023 is scheduled for 09:00 a.m. EDT on Thursday, July 20, 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 first quarter ended June 30, 2023, 16.9% of its consolidated sales were represented by small precision motors; 24.3% by automotive products; 42.2% by appliance, commercial and industrial products; 12.5% by machinery; 3.9% 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230719655597/en/
Contacts:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
Source: Nidec Corporation
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