Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2023

KYOTO, Japan–(BUSINESS WIRE)–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 September 30, 2023.
The highlights are as follows:

First half net sales stood at a record high of ¥1,160.7 billion, 2.6% higher Y/Y.

First half operating profit increased 20.1% Y/Y to ¥115.8 billion, marking a record high.

First half profit before income taxes increased 22.8 % Y/Y to ¥145.4 billion. Profit attributable to owners of the parent increased 22.4% Y/Y to ¥106.1 billion. Both stood at record highs.

EPS: ¥184.62 (basic and diluted)

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)%

　
2023
2022
2023
2022

Net sales————————————————————————–
1,160,662
1,130,767
2.6%
594,607
590,398
0.7%

Operating profit——————————————————————
115,782
96,368
20.1%
55,630
51,708
7.6%

Ratio of operating profit to net sales—————————————
10.0%
8.5%
　-
9.4%
8.8%
　-

Profit before income taxes—————————————————–
145,359
118,375
22.8%
59,278
61,386
(3.4)%

Ratio of profit before income taxes to net sales————————-
12.5%
10.5%
–
10.0%
10.4%
　-

Profit attributable to owners of the parent———————————-
106,081
86,649
22.4%
42,040
45,328
(7.3)%

Ratio of profit attributable to owners of the parent to net sales————————————————————
9.1%
7.7%
–
7.1 %
7.7 %
　-

Earnings per share attributable to owners of the parent
– basic (Yen)———————————————————————
184.62
150.31
–
73.16
78.83
–

Earnings per share attributable to owners of the parent
– diluted (Yen)——————————————————————-
184.62
150.31
–
73.16
78.83
　-

Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2023:
https://www.nidec.com/en/ir/news/2023/news1023-02/
A webcast (audio-only) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2023 is scheduled for 10:00 a.m. JST on Tuesday, October 24, 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 six months ended September 30, 2023, 17.8% of its consolidated sales were represented by small precision motors; 24.3% by automotive products; 41.3% by appliance, commercial and industrial products; 12.6% by machinery; 3.7% 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. Contacts
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com