Nidec Announces Financial Results for Fiscal Year Ended March 31, 2024

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, 2024.

The highlights are as follows:

• FY23 consolidated net sales and profit before income taxes stood at record highs.
• FY23 operating profit was 163.1 billion yen, as a result of 59.8 billion yen of structural reform expenses recorded due to strategic shift to improve the financial soundness and profitability of the Battery EV related business.
• We project 40 yen of interim dividend and 80 yen of aggregate annual dividend for the year ending March 31, 2025.
• EPS: Â¥218.22 (basic and diluted)

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

Yen in millions, except for per share amounts and percentages	Year ended March 31,			Â	Increase (Decrease) %	Â	Three months ended March 31,			Â	Increase (Decrease) %
　	2024	Â	2023	Â		Â	2024	Â	2023	Â
Net sales	2,348,202	Â	2,242,824	Â	4.7%	Â	593,514	Â	543,077	Â	9.3%
Operating profit	163,106	Â	100,028	Â	63.1%	Â	(6,172)	Â	(24,376)	Â	–
Ratio of operating profit to net sales	6.9%	Â	4.5%	Â	–	Â	(1.0%)	Â	(4.5%)	Â	–
Profit before income taxes	202,919	Â	120,540	Â	68.3%	Â	9,218	Â	(21,404)	Â	–
Ratio of profit before income taxes to net sales	8.6%	Â	5.4%	Â	–	Â	1.6%	Â	(3.9%)	Â	–
Profit attributable to owners of the parent	125,387	Â	44,964	Â	178.9%	Â	(20,492)	Â	(59,113)	Â	–
Ratio of profit attributable to owners of the parent to net sales	5.3%	Â	2.0%	Â	–	Â	(3.5%)	Â	(10.9%)	Â	–
Earnings per share attributable to owners of the parent – basic (Yen)	218.22	Â	78.12	Â	–	Â	(35.66)	Â	(102.89)	Â	–
Earnings per share attributable to owners of the parent – diluted (Yen)	–	Â	–	Â	–	Â	–	Â	–	Â	–

Full copy of Nidec’s financial statements for the year ended March 31, 2024:

https://www.nidec.com/en/ir/news/2024/news0423-02/

A webcast (audio-only) discussing Nidec’s financial results for the year ended March 31, 2024 is scheduled for 10:00 a.m. JST on Wednesday, April 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 year ended March 31, 2024, 17.7% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 41.1% by appliance, commercial and industrial products; 12.8% by machinery; 3.5% 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 Founder and Executive Chairman.

Contacts

Teruaki Urago

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com