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

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

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

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

2024

2023

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.