KYOTO, Japan, April 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 fiscal year ended March 31, 2024.
The highlights are as follows:
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FY23 consolidated net sales and profit before income taxes stood at record highs.
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FY23 operating profit was 163.1 billion yen, as a result of 59.8 billion yen of structural reform expenses recorded due to strategic shift to improve the financial soundness and profitability of the Battery EV related business.
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We project 40 yen of interim dividend and 80 yen of aggregate annual dividend for the year ending March 31, 2025.
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EPS: ¥218.22 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
Yen in millions, except for per share amounts and percentages |
Year ended |
|
Increase |
|
Three months ended |
|
Increase |
||||
2024 |
|
2023 |
|
|
2024 |
|
2023 |
|
|||
Net sales |
2,348,202 |
|
2,242,824 |
|
4.7% |
|
593,514 |
|
543,077 |
|
9.3% |
Operating profit |
163,106 |
|
100,028 |
|
63.1% |
|
(6,172) |
|
(24,376) |
|
– |
Ratio of operating profit to net sales |
6.9% |
|
4.5% |
|
– |
|
(1.0%) |
|
(4.5%) |
|
– |
Profit before income taxes |
202,919 |
|
120,540 |
|
68.3% |
|
9,218 |
|
(21,404) |
|
– |
Ratio of profit before income taxes to net sales |
8.6% |
|
5.4% |
|
– |
|
1.6% |
|
(3.9%) |
|
– |
Profit attributable to owners of the parent |
125,387 |
|
44,964 |
|
178.9% |
|
(20,492) |
|
(59,113) |
|
– |
Ratio of profit attributable to owners of the parent to net sales |
5.3% |
|
2.0% |
|
– |
|
(3.5%) |
|
(10.9%) |
|
– |
Earnings per share attributable to owners of the parent |
218.22 |
|
78.12 |
|
– |
|
(35.66) |
|
(102.89) |
|
– |
Earnings per share attributable to owners of the parent |
– |
|
– |
|
– |
|
– |
|
– |
|
– |
Full copy of Nidec’s financial statements for the year ended March 31, 2024:
https://www.nidec.com/en/ir/news/2024/news0423-02/
A webcast (audio-only) discussing Nidec’s financial results for the year ended March 31, 2024 is scheduled for 10:00 a.m. JST on Wednesday, April 24, 2024. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conference
About Nidec Corporation
Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the year ended March 31, 2024, 17.7% of its consolidated sales were represented by small precision motors; 24.7% by automotive products; 41.1% by appliance, commercial and industrial products; 12.8% 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 Founder and Executive Chairman.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240422741531/en/
Contacts
Teruaki Urago
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
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