Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2023.
The highlights are as follows:
- Net sales increased 4.8% Y/Y to ¥566.1 billion.
- Operating profit increased 34.7% Y/Y to ¥60.2 billion, marking a record high on a quarterly basis.
- Profit before income taxes increased 51.0% Y/Y to ¥86.1 billion after foreign currency gain of ¥24.3 billion posted, and marked a record high on a quarterly basis.
- Profit attributable to owners of the parent increased 55.0% Y/Y to ¥64.0 billion, marking a record high on a quarterly basis.
- Quarterly operating profit of Appliance, Commercial and Industrial Products segment, one of our mid-term growth drivers, marked a record high.
- EPS: ¥111.45 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
Yen in millions except for per share amounts and percentages |
Three months ended June 30 |
Change % |
|
|
2023 |
2022 |
|
Net sales |
566,055 |
540,369 |
4.8% |
Operating profit |
60,152 |
44,660 |
34.7% |
Ratio of operating profit to net sales |
10.6% |
8.3% |
- |
Profit before income taxes |
86,081 |
56,989 |
51.0% |
Ratio of profit before income taxes to net sales |
15.2% |
10.5% |
- |
Profit attributable to owners of the parent |
64,041 |
41,321 |
55.0 % |
Ratio of profit attributable to owners of the parent to net sales |
11.3% |
7.6% |
- |
Earnings per share attributable to owners of the parent -Basic |
111.45 |
71.50 |
- |
Earnings per share attributable to owners of the parent -Diluted |
111.45 |
71.50 |
- |
Full copy of Nidec’s financial statements for the three-month period ended June 30, 2023:
https://www.nidec.com/en/ir/news/2023/news0720-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2023 is scheduled for 09:00 a.m. EDT on Thursday, July 20, 2023. 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 first quarter ended June 30, 2023, 16.9% of its consolidated sales were represented by small precision motors; 24.3% by automotive products; 42.2% by appliance, commercial and industrial products; 12.5% by machinery; 3.9% 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/20230719655597/en/
Contacts
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
