Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2021
KYOTO, Japan, July 21, 2021 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2021.
The highlights are as follows:
- Net sales stood at a record high of ¥447.5 billion, 32.8% higher Y/Y. Operating profit significantly increased 60.3% Y/Y to ¥44.6 billion.
- Q1 quarterly operating profit ratio was 10.0% due to enhanced profitability through WPR4 program implemented since FY20, and sales recovery. Double-digit operating profit ratio was successfully maintained for four consecutive quarters.
- Profit attributable to owners of the parent increased 66.8% Y/Y to ¥33.5 billion.
- EPS: ¥57.14 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions except for per share amounts and percentages | Three months ended June 30 | Change % | |
| 2021 | 2020 | ||
| Net sales | 447,470 | 336,876 | 32.8% |
| Operating profit | 44,555 | 27,793 | 60.3 % |
| Ratio of operating profit to net sales | 10.0% | 8.3% | - |
| Profit before income taxes | 43,752 | 27,410 | 59.6% |
| Ratio of profit before income taxes to net sales | 9.8% | 8.1% | - |
| Profit attributable to owners of the parent | 33,451 | 20,058 | 66.8 % |
| Ratio of profit attributable to owners of the parent to net sales | 7.5% | 6.0% | - |
| Earnings per share attributable to owners of the parent -Basic | 57.14 | 34.24 | - |
| Earnings per share attributable to owners of the parent -Diluted | 57.14 | 34.24 | - |
Full copy of Nidec’s financial statements for the three-month period ended June 30, 2021:
https://www.nidec.com/en/ir/news/2021/news0721-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2021 is scheduled for 09:00 a.m. EDT on Wednesday, July 21, 2021. 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 first quarter ended June 30, 2021, 22.6% of its consolidated sales were represented by small precision motors; 21.8% by automotive products; 41.7% by appliance, commercial and industrial products; 10.0% by machinery; 3.7% 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 | |
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