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 December 31, 2023.
The highlights are as follows:
- We achieved record-high nine months consolidated net sales, operating profit, profit before income taxes and profit attributable to owners of the parent.
- For the Battery EV related business, we implement a strategic shift to improve the financial soundness and profitability. Assuming that structural reform expenses will occur, we revised our fiscal 2023 earnings forecasts.
- We revised upward year-end dividend forecast for the year ending March 31, 2024 to 40 yen (increased by 5 yen) making the projected aggregate annual dividend 75 yen per share.
- EPS: ¥253.93 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
Yen in millions, except for per share amounts and percentages | Â | Nine months ended December 31, | Â | Increase % | Â | Three months ended December 31, | Â | Increase | ||||
　 |  | 2023 |  | 2022 |  |  | 2023 |  | 2022 |  | ||
Net sales | Â | 1,754,688 | Â | 1,699,747 | Â | 3.2% | Â | 594,026 | Â | 568,980 | Â | 4.4% |
Operating profit | Â | 169,321 | Â | 124,404 | Â | 36.1% | Â | 53,562 | Â | 28,036 | Â | 91.0% |
Ratio of operating profit to net sales |  | 9.6% |  | 7.3% |  | 　- |  | 9.0% |  | 4.9% |  | 　- |
Profit before income taxes | Â | 193,744 | Â | 141,944 | Â | 36.5% | Â | 48,408 | Â | 23,569 | Â | 105.4% |
Ratio of profit before income taxes to net sales |  | 11.0% |  | 8.4% |  | – |  | 8.1% |  | 4.1% |  | 　- |
Profit attributable to owners of the parent | Â | 145,908 | Â | 104,077 | Â | 40.2% | Â | 39,844 | Â | 17,428 | Â | 128.6% |
Ratio of profit attributable to owners of the parent to net sales |  | 8.3% |  | 6.1% |  | – |  | 6.7% |  | 3.1% |  | 　- |
Earnings per share attributable to owners of the parent | Â | 253.93 | Â | 180.72 | Â | – | Â | 69.34 | Â | 30.32 | Â | – |
Earnings per share attributable to owners of the parent |  | 　- |  | 　- |  | 　- |  | 　- |  | 　- |  | 　- |
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2023:
https://www.nidec.com/en/ir/news/2024/news0124-03/
A webcast (audio-only) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2023 is scheduled for 5:00 p.m. JST on Wednesday, January 24, 2024. 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, 2023, 18.2% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 40.9% by appliance, commercial and industrial products; 12.4% by machinery; 3.6% 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
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
[email protected]
