Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2019
KYOTO, Japan, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the period of April 1, 2019 through December 31, 2019.
The highlights are as follows:
- Nine-month net sales up 3% Y/Y to a record 1,159.6 billion yen.
- Three-month net sales up 5% Q/Q to a record 408.3 billion yen.
- Nine-month operating profit down 24% Y/Y to 94.8 billion, mainly due to additional R&D and start-up expenses associated with traction motors (totaling approx.12 billion yen), as well as to business acquisitions collectively costing approx. 3 billion yen.
- EPS: ¥171.62 (basic and diluted)
- Downward revision to FY2019 guidance.
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions, except for per share amounts and percentages | Nine months ended December 31, | Increase (Decrease) % | Three months ended December 31, | Increase (Decrease)% | ||||||||
| 2019 | 2018 | 2019 | 2018 | |||||||||
| Net sales | 1,159,608 | 1,122,413 | 3.3 | % | 408,331 | 366,966 | 11.3 | % | ||||
| Operating profit | 94,754 | 124,522 | (23.9 | %) | 32,654 | 28,354 | 15.2 | % | ||||
| Ratio of operating profit to net sales | 8.2 | % | 11.1 | % | - | 8.0 | % | 7.7 | % | - | ||
| Profit before income taxes | 94,600 | 126,223 | (25.1 | %) | 30,957 | 30,480 | 1.6 | % | ||||
| Ratio of profit before income taxes to net sales | 8.2 | % | 11.2 | % | - | 7.6 | % | 8.3 | % | - | ||
| Profit attributable to owners of the parent | 50,507 | 102,842 | (50.9 | %) | 23,020 | 24,414 | (5.7 | %) | ||||
| Ratio of profit attributable to owners of the parent to net sales | 4.4 | % | 9.2 | % | - | 5.6 | % | 6.7 | % | - | ||
| Earnings per share attributable to owners of the parent -Basic | 171.62 | 348.64 | - | 78.22 | 82.96 | - | ||||||
| Earnings per share attributable to owners of the parent -Diluted | 171.62 | 348.64 | - | 78.22 | 82.96 | - | ||||||
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2019:
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2019 is scheduled for 09:00 a.m. EST on Thursday, January 23, 2020. To listen to the webcast, please visit Nidec website at:
About Nidec Corporation
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the nine months ended December 31, 2019, 28.9% of its consolidated sales were represented by small precision motors; 21.0% by automotive products; 36.0% by appliance, commercial and industrial products; 9.9% by machinery; 3.9% by electronic and optical components, and 0.3% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current Chairman and CEO.
| Contact: | |
| Masahiro Nagayasu | |
| General Manager | |
| Investor Relations | |
