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 fiscal year ended March 31, 2023.
The highlights are as follows:
- Net sales stood at a record high of ¥2,242.8 billion, 16.9% higher Y/Y.
- Operating profit decreased 41.3% Y/Y to ¥100.1 billion due to structural reform expenses of ¥75.7 billion.
- Profit before income taxes decreased 29.1% Y/Y to ¥120.6 billion after foreign currency gain of ¥20 billion posted.
- Profit attributable to owners of the parent decreased 66.9% Y/Y to ¥45.0 billion after income tax expenses of ¥75.0 billion and losses from discontinued operations of ¥2.0 billion.
- Continue WPR-X, the drastic reform on profitability, and aim to make a V-shaped recovery in FY2023.
- EPS: ¥78.19 (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 | |||||||
? | 2023 | 2022 | 2023 | 2022 | |||||||
Net sales | 2,242,824 | 1,918,174 | 16.9% | 543,077 | 510,964 | 6.3 % | |||||
Operating profit | 100,081 | 170,374 | (41.3)% | (24,323) | 36,887 | – | |||||
Ratio of operating profit to net sales | 4.5% | 8.9% | – | (4.5)% | 7.2% | – | |||||
Profit before income taxes | 120,593 | 170,032 | (29.1)% | (21,351) | 40,622 | – | |||||
Ratio of profit before income taxes to net sales | 5.4% | 8.9% | – | (3.9) % | 8.0% | – | |||||
Profit attributable to owners of the parent | 45,003 | 135,759 | (66.9)% | (59,074) | 36,447 | – | |||||
Ratio of profit attributable to owners of the parent to net sales | 2.0% | 7.1% | – | (10.9)% | 7.1 % | – | |||||
Earnings per share attributable to owners of the parent | 78.19 | 232.40 | – | (102.82) | 62.70 | – | |||||
Earnings per share attributable to owners of the parent | 78.19 | 232.40 | – | (102.82) | 62.70 | – | |||||
Full copy of Nidec’s financial statements for the year ended March 31, 2023:
https://www.nidec.com/en/ir/news/2023/news0424-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2023 is scheduled for 09:00 a.m. EDT on Tuesday, April 25, 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 year ended March 31, 2023, 19.0% of its consolidated sales were represented by small precision motors; 23.2% by automotive products; 40.8% by appliance, commercial and industrial products; 13.2% 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]
