KYOTO, Japan–(BUSINESS WIRE)–Nidec Corporation (TOKYO:6594) (OTC US:NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRSâ€) 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]
