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 (OTC US: NJDCY; Tokyo: 6594) generates frequent disclosures that are highly relevant for investors following manufacturing and optical instrument and lens manufacturing companies. This news page compiles Nidec‑related announcements, focusing on financial reporting, governance developments, and capital structure decisions that shape the company’s risk profile and outlook.
Recent Nidec news has centered on IFRS‑based financial results for quarterly and semi‑annual periods, detailing changes in net sales, operating profit, and segment performance across its Automotive products, Appliance, Commercial and Industrial products, and Machinery businesses. The company has highlighted the impact of provisions for loss on contracts, impairment losses on non‑financial assets, and liabilities arising from settlements with suppliers, which have significantly affected profitability and created differences between preliminary and final performance figures.
Another major theme in Nidec’s news flow is accounting and governance issues. The company has announced investigations by a Third‑Party Committee into suspected improper or inappropriate accounting, and has reported that its auditor, PricewaterhouseCoopers Japan LLC, issued interim review reports containing disclaimers of conclusion on certain condensed quarterly and interim consolidated financial statements. Nidec has also disclosed that the Tokyo Stock Exchange designated its shares as a Security on Special Alert due to concerns about its internal management system.
Additional announcements cover dividend and forecast revisions, including the decision not to pay an interim dividend and to leave certain year‑end dividend and consolidated forecast figures undetermined, as well as financing measures such as a commitment line agreement with major creditor banks. Governance‑related news includes changes in the role of the company’s founder, who moved from Founder and Chairman of the Board to Chairman Emeritus, and the succession of the Chairman of the Board role by the Representative Director, President and Chief Executive Officer.
By reviewing this news feed, readers can track how Nidec communicates about its financial performance, accounting investigations, internal control improvements, funding arrangements, and board‑level changes over time.
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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.
Nidec Corporation (Tokyo: 6594; OTC US: NJDCY) announced the completion of its share repurchase plan as per the Board of Directors' resolution on January 24, 2023. The repurchase period ran from March 1, 2023, to March 31, 2023, during which 290,000 shares were repurchased for a total amount of 1,853,416,800 yen. Since the initiation of the plan, a cumulative total of 1,020,000 shares have been repurchased, amounting to 6,882,558,300 yen. The total authorized repurchase limit is 35 billion yen, allowing for up to 5,000,000 shares to be reacquired by January 24, 2024.
Nidec Corporation (OTC US: NJDCY) announced the acquisition of Midori Precisions Co., Ltd. by its subsidiary Nidec Copal Electronics on March 31, 2023. This acquisition aims to leverage synergies between both companies to enhance their product offerings in potentiometers and encoders. By integrating their technologies, they anticipate meeting global demands for sensors through Nidec Copal Electronics’ global sales channels. Although the acquisition is not expected to have a significant impact on Nidec’s consolidated financial performance for the fiscal year ending March 31, 2023, it represents a strategic growth investment.
Nidec Corporation (NJDCY) announced the acquisition of Midori Precisions Co., Ltd. through its subsidiary, Nidec Copal Electronics, on March 15, 2023. Midori Precisions specializes in the development and manufacture of potentiometers and electronic components and reported sales of 2.788 billion yen with an operating profit of 495 million yen for the fiscal year ending March 31, 2022. This acquisition is expected to create synergies in product development and enhance sales resources, contributing to Nidec’s growth strategy in sensing technologies. The financial impact for Nidec's current fiscal year is not expected to be significant.
Nidec Corporation (OTC US: NJDCY) announced that an extraordinary meeting of its Board of Directors on March 10, 2023, led to the appointment of five new Executive Vice Presidents, effective April 1, 2023. These appointments align with the company's selection policy determined by the Nomination Committee. One of the new Executive Vice Presidents will be named President in April 2024. The executives include Toshiyuki Otsuka, Tatsuya Nishimoto, Yoshihisa Kitao, Toshihiko Koseki, and Mitsuya Kishida, all of whom bring diverse leadership roles within Nidec's various business units.
Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) has expressed its condolences to the victims of the February 6 earthquake in Turkey and Syria. In a show of support, the company has pledged a donation of 10 million yen to the Japanese Red Cross Society to aid in recovery efforts. Nidec reiterates its solidarity with those impacted and commends the rescue workers involved in the relief operations.
Nidec Corporation (OTC US: NJDCY) announced its share repurchase status as part of an ongoing buyback plan approved on January 24, 2023. The repurchase period from February 1, 2023 to February 28, 2023 saw the company buy back 730,000 shares for a total of 5,029,141,500 yen. This buyback aligns with a broader goal to repurchase up to 5,000,000 shares over a year, representing 0.87% of total shares issued. The total allowable repurchase amount stands at 35 billion yen.