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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240123455600/en/