KYOTO, Japan--(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:
- 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
|
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.
