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]
