Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2023

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, 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		Nine months ended December 31,				Increase (Decrease) %		Three months ended December 31,				Increase (Decrease) %
		2023		2022				2023		2022
Net sales		1,754,688		1,699,747		3.2%		594,026		568,980		4.4%
Operating profit		169,321		124,404		36.1%		53,562		28,036		91.0%
Ratio of operating profit to net sales		9.6%		7.3%		-		9.0%		4.9%		-
Profit before income taxes		193,744		141,944		36.5%		48,408		23,569		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		145,908		104,077		40.2%		39,844		17,428		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 – basic (Yen)		253.93		180.72		–		69.34		30.32		–
Earnings per share attributable to owners of the parent – diluted (Yen)		-		-		-		-		-		-

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

ir@nidec.com