Nidec Announces Differences between Projected and Actual Financial Results for First-Half FY2023

KYOTO, Japan–(BUSINESS WIRE)–Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company”) today announced differences between its financial forecast for the six months ended September 30, 2023 (previously announced on April 24, 2023) and the actual financial results released today.

The details are as follows: 

Differences between Projected and Actual Financial Results for Six Months Ended September 30, 2023 (IFRS) 

From April 1, 2023 to September 30, 2023 (Millions of yen, except for per share amounts and percentages)

 
For the six months ended September 30, 2023
(Reference)
For the six months
ended September 30, 2022

 
Previous
forecast
(April 24, 2023)
Actual
Change
(amount)
Change
(percent)

Net sales
1,000,000
1,160,662
160,662
16.1%
1,130,767

Operating profit
100,000
115,782
15,782
15.8%
96,368

Profit before income taxes
95,000
145,359
50,359
53.0%
118,375

Profit attributable to
owners of the parent
74,000
106,081
32,081
43.4%
86,649

Earnings per share
attributable to owners of
the parent-Basic
128.79
184.62
–
–
150.31

Factors behind the differences between projected and actual six months results
The Company’s consolidated net sales and operating profit for the six months ended September 30, 2023 exceeded the previous forecast (announced on April 24, 2023). This is because the yen depreciated more than expected against both the US dollar and the euro, and the Company improved sales amount, price and cost. Profit before income taxes and profit attributable to owners of the parent also exceeded the forecast after posting foreign currency gain of approx. 26 billion yen. Contacts
Nidec Corporation
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com