Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2023

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Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2023

KYOTO, Japan--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 December 31, 2023.

The highlights are as follows:

  • We achieved record-high nine months consolidated net sales, operating profit, profit before income taxes and profit attributable to owners of the parent.
  • For the Battery EV related business, we implement a strategic shift to improve the financial soundness and profitability. Assuming that structural reform expenses will occur, we revised our fiscal 2023 earnings forecasts.
  • We revised upward year-end dividend forecast for the year ending March 31, 2024 to 40 yen (increased by 5 yen) making the projected aggregate annual dividend 75 yen per share.
  • EPS: ¥253.93 (basic and diluted)

Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2023:
https://www.nidec.com/en/ir/news/2024/news0124-03/

A webcast (audio-only) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2023 is scheduled for 5:00 p.m. JST on Wednesday, January 24, 2024. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conference

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

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Contacts

Izumi Nagata

Press contact PR Department +81 80-9674-9227

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For Everything That Spins and Moves

​Nidec was established in Kyoto, Japan in 1973 by its Chairman Shigenobu Nagamori. In 1979, Nidec became the first company in the world to successfully commercialize a direct drive spindle motor for HDDs based on a brushless DC motor. Since then, the company has grown into a world-leading comprehensive motor manufacturer encompassing approximately 300 subsidiaries employing over 100,000 people throughout the world and with annual sales exceeding $10B. Nidec's motors, drives, generators and related products are found in a diverse range of applications including computers, smartphones, home appliances, automobiles, manufacturing plants, robots and more.

Nidec
Nidec head office (Kyoto, Japan)
338 Kuzetonoshiro-cho, Minami-ku 601-8205 Kyoto
Japan
Corporate Website