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Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2022

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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, 2022 through December 31, 2022.

The highlights are as follows:

  • Nine months net sales stood at record high of �1,699.7 billion, 20.8% higher Y/Y.
  • Nine months operating profit decreased 6.8% Y/Y to �124.4 billion.
  • Nine months profit before income taxes and profit attributable to owners of the parent increased 9.7% Y/Y to �141.9 billion, 4.8% Y/Y to �104.1 billion, respectively. Both stood at record high.
  • Due to the recent business environment surrounding the company, Nidec posted structural reform expenses, and revised its full-year forecast for FY2022.
  • Nidec is implementing WPR-X, the drastic reform on profitability, to tackle recent deteriorations of market environments with aims to reduce the fixed cost significantly and to make a V-shaped recovery in FY2023.
  • EPS: �180.72 (basic and diluted)

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions, except for per share amounts and percentages

Nine months ended

December 31,

�

Increase

(Decrease)

%

�

Three months ended

December 31,

�

Increase

(Decrease)

%

?

2022

�

2021

��

2022

�

2021

�

Net sales

1,699,747

�

1,407,210

�

20.8 %

�

568,980

�

496,542

�

14.6%

Operating profit

124,404

�

133,487

�

(6.8) %

�

28,036

�

44,343

�

(36.8) %

Ratio of operating profit to net sales

7.3 %

�

9.5 %

�

?-

�

4.9 %

�

8.9%

�

?-

Profit before income taxes

141,944

�

129,410

�

9.7 %

�

23,569

�

42,307

�

(44.3) %

Ratio of profit before income taxes to net sales

8.4 %

�

9.2 %

�

-

�

4.1 %

�

8.5%

�

?-

Profit attributable to owners of the parent

104,077

�

99,312

�

4.8 %

�

17,428

�

32,700

�

(46.7) %

Ratio of profit attributable to owners of the parent to net sales

6.1 %

�

7.1 %

�

-

�

3.1 %

�

6.6%

�

?-

Earnings per share attributable to owners of the parent

- basic

180.72

�

169.73

�

-

�

30.32

�

55.94

�

-

Earnings per share attributable to owners of the parent

- diluted

180.72

�

169.73

�

-

�

30.32

�

55.94

�

-

Full copy of Nidec�s financial statements for the third quarter and nine months ended December 31, 2022:

https://www.nidec.com/en/ir/news/2023/news0124-03/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec�s financial results for the third quarter and nine months ended December 31, 2022 is scheduled for 09:00 a.m. EST on Tuesday, January 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 nine months ended December 31, 2022, 19.6% of its consolidated sales were represented by small precision motors; 23.2% by automotive products; 40.1% by appliance, commercial and industrial products; 13.1% by machinery; 3.8% 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]

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