Nidec Announces Financial Results for Fiscal Year Ended March 31, 2022

Rhea-AI Summary

Nidec Corporation (OTC US: NJDCY) reported strong financial results for the fiscal year ended March 31, 2022, achieving net sales of ¥1,918.2 billion, a remarkable 18.5% increase compared to last year. Operating profit rose by 7.2% to ¥171.5 billion, while profit before income taxes reached ¥171.1 billion, up 11.9%. Profit attributable to owners of the parent also hit a record high at ¥136.9 billion, marking a 12.2% year-over-year increase. The earnings per share were reported at ¥234.30 for both basic and diluted measures, reflecting a solid performance across key metrics.

Positive

• Net sales increased 18.5% Y/Y to ¥1,918.2 billion.
• Operating profit rose 7.2% Y/Y to ¥171.5 billion, a record high.
• Profit before income taxes reached ¥171.1 billion, up 11.9% Y/Y.
• Profit attributable to owners grew by 12.2% Y/Y to ¥136.9 billion.
• Earnings per share reported at ¥234.30, showing growth.

Negative

• Operating profit margin decreased from 9.9% to 8.9% Y/Y.
• Profit before income tax margin dropped from 9.5% to 8.9% Y/Y.
• Operating profit for Q4 decreased by 17.1% compared to the previous year.
• Profit before income taxes for Q4 declined by 7.0% Y/Y.
• Q4 profit attributable to owners decreased 5.0% Y/Y.

KYOTO, Japan, April 21, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2022.

The highlights are as follows:

• Net sales stood at a record high of ¥1,918.2 billion, 18.5% higher Y/Y.
• Operating profit and profit before income taxes increased 7.2% Y/Y to ¥171.5 billion, 11.9% Y/Y to ¥171.1 billion, respectively. Both stood at record high.
• Profit attributable to owners of the parent stood at a record high of ¥136.9 billion, 12.2% higher Y/Y.
• EPS: ￥234.30 (basic and diluted)

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions, except for per share amounts and percentages	Year ended March 31,		Increase (Decrease) %	Three months ended March 31,		Increase (Decrease) %
	2022	2021		2022	2021
Net sales	1,918,174	1,618,064	18.5%	510,964	433,073	18.0 %
Operating profit	171,487	159,970	7.2%	36,856	44,461	(17.1 %)
Ratio of operating profit to net sales	8.9%	9.9%	-	7.2%	10.3%	-
Profit before income taxes	171,145	152,937	11.9%	40,591	43,623	(7.0 %)
Ratio of profit before income taxes to net sales	8.9%	9.5%	-	7.9 %	10.1 %	-
Profit attributable to owners of the parent	136,870	121,945	12.2%	36,427	38,330	(5.0%)
Ratio of profit attributable to owners of the parent to net sales	7.1%	7.5%	-	7.1 %	8.9 %	-
Earnings per share attributable to owners of the parent -Basic	234.30	208.19	-	62.67	65.44	-
Earnings per share attributable to owners of the parent -Diluted	234.30	208.19	-	62.67	65.44	-

Full copy of Nidec’s financial statements for the year ended March 31, 2022:
https://www.nidec.com/en/ir/news/2022/news0421-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2022 is scheduled for 09:00 a.m. EDT on Thursday, April 21, 2022. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conference

About Nidec Corporation
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the year ended March 31, 2022, 22.2% of its consolidated sales were represented by small precision motors; 21.8% by automotive products; 41.0% by appliance, commercial and industrial products; 11.2% by machinery; 3.6% 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.

Contact:
	Masahiro Nagayasu
	General Manager
	Investor Relations
	+81-75-935-6140
	ir@nidec.com

 

FAQ

What were Nidec's net sales for the fiscal year ending March 31, 2022?

Nidec reported net sales of ¥1,918.2 billion, an 18.5% increase year-over-year.

How much did Nidec's operating profit increase in the fiscal year 2022?

Operating profit increased by 7.2% year-over-year to ¥171.5 billion.

What was Nidec's profit attributable to owners for the fiscal year 2022?

Profit attributable to owners of the parent was ¥136.9 billion, a 12.2% increase year-over-year.

What is Nidec's EPS for the year ended March 31, 2022?

The earnings per share attributable to owners of the parent was ¥234.30.

What were the negative aspects of Nidec's financial performance in 2022?

Negative aspects included a decrease in operating and profit margins and a decline in Q4 profits.