Nidec Announces Financial Results for Fiscal Year Ended March 31, 2024
April 23 2024 - 2:15AM
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:
- FY23 consolidated net sales and profit before income taxes
stood at record highs.
- 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.
- We project 40 yen of interim dividend and 80 yen of aggregate
annual dividend for the year ending March 31, 2025.
- 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 March 31,
Increase (Decrease) %
Three months ended March 31,
Increase (Decrease) %
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 - basic (Yen)
218.22
78.12
-
(35.66)
(102.89)
-
Earnings per share attributable to owners
of the parent - diluted (Yen)
-
-
-
-
-
-
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/
Teruaki Urago General Manager Investor Relations +81-75-935-6140
ir@nidec.com