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 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 | Â |
Increase | Â |
Three months ended | Â |
Increase | ||||
| 　 | 2024 |  | 2023 |  |  | 2024 |  | 2023 |  | ||
| 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 | 218.22 | Â | 78.12 | Â | – | Â | (35.66) | Â | (102.89) | Â | – |
|
Earnings per share attributable to owners of the parent | – | 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