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	Increase (Decrease) %	2024	2023	Increase (Decrease) %
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.