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

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10/23/2024 - 02:52 AM

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, 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	Increase (Decrease) %	2024	2023	Increase (Decrease) %
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.