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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240422741531/en/