Welcome to our dedicated page for Nidec news (Ticker: NJDCY), a resource for investors and traders seeking the latest updates and insights on Nidec stock.
Nidec Corporation reports governance, financial reporting and shareholder-related developments for its operating company and U.S. OTC ADR ticker, NJDCY. Recent company updates have centered on an improvement plan and status reports submitted to the Tokyo Stock Exchange, third-party and internal investigations into improper accounting, and corrective measures for the company’s internal management system.
News also addresses postponed financial-result disclosures, corrections to prior financial statements, board and nomination committee processes, shareholder requests involving director liability and related remedies, dividend determinations, and culture-transformation initiatives within the Nidec Group.
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Nidec Corporation reported its consolidated financial results for the fiscal year ending March 31, 2023. Key highlights include:
- Record net sales of ¥2,242.8 billion, a 16.9% increase year-over-year.
- Operating profit fell by 41.3% to ¥100.1 billion due to structural reform costs of ¥75.7 billion.
- Profit before taxes declined 29.1% to ¥120.6 billion, aided by a foreign currency gain of ¥20 billion.
- Profit attributable to owners of the parent decreased 66.9% to ¥45.0 billion after tax expenses of ¥75.0 billion and losses from discontinued operations of ¥2.0 billion.
- EPS stood at ¥78.19. Nidec aims for a V-shaped recovery in FY2023 through the ongoing WPR-X reform.