Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2023

KYOTO, Japan--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)