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

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