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Nidec Corp

Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2024

KYOTO, Japan--(BUSINESS WIRE)--Oct. 23, 2024-- 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, 2024 through September 30, 2024.

The highlights are as follows:

  • First half net sales stood at a record high of ¥1,293.8 billion, 11.8% higher Y/Y.
  • First half operating profit increased 4.9% Y/Y to ¥121.0 billion, marking a record high.
  • Quarterly operating profit stood at a record high.

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions, except for per share amounts and percentages

Six months ended

September 30,

Increase
(Decrease)
%

Three months ended

September 30,

Increase
(Decrease)
%

　

2024

2023

2024

2023

Net sales

1,293,811

1,157,448

11.8%

645,645

593,086

8.9%

Operating profit

121,000

115,309

4.9%

60,672

55,133

10.0%

Ratio of operating profit to net sales

9.4%

10.0%

-

9.4%

9.3%

　-

Profit before income taxes

100,174

144,886

(30.9)%

21,502

58,781

(63.4)%

Ratio of profit before income taxes to net sales

7.7%

12.5%

-

3.3%

9.9%

　-

Profit attributable to owners of the parent

75,572

105,710

(28.5)%

19,487

41,644

(53.2)%

Ratio of profit attributable to owners of the parent to net sales

5.8%

9.1%

-

3.0%

7.0%

-

Earnings per share attributable to owners of the parent
- basic (Yen)

65.76

91.99

-

16.96

36.24

-

Earnings per share attributable to owners of the parent
- diluted (Yen)

65.76

91.99

-

16.96

36.24

-

Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2024:
https://www.nidec.com/en/ir/news/2024/news1023-02/

A webcast (audio-only) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2024 is scheduled for 10:00 a.m. JST on Thursday, October 24, 2024. To listen to the webcast, please visit Nidec website at https://www.nidec.com/en/ir/event/conference. (The webcast will be available on October 25, 2024.)

About Nidec Corporation
 Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2024, 18.8% of its consolidated sales were represented by small precision motors; 25.6% by automotive products; 40.2% by appliance, commercial and industrial products; 11.9% 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 current Founder and Chairman of the Board.

Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com

Source: Nidec Corporation