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KYOTO, Japan, October 23, 2024--(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:
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First half net sales stood at a record high of ¥1,293.8 billion, 11.8% higher Y/Y.
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First half operating profit increased 4.9% Y/Y to ¥121.0 billion, marking a record high.
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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 | Three months ended September 30, | Increase | ||
| 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 | 65.76 | 91.99 | - | 16.96 | 36.24 | - |
| Earnings per share attributable to owners of the parent | 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.
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