Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2020
KYOTO, Japan, Jan. 25, 2021 (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, 2020 through December 31, 2020.
The highlights are as follows:
- Nine months net sales stood at record high ¥1,185.0 billion, 2.2% higher Y/Y. Nine months operating profit increased 24.0% Y/Y to ¥115.5 billion.
- Q3 quarterly net sales increased 4.4% Q/Q to ¥433.2 billion, marking a record high for two consecutive quarters. Operating profit increased 12.0% Q/Q to ¥46.4 billion due to increased sales and contributions from comprehensive improvements on cost structure and optimization of fixed cost through WPR4 program.
- EPS: ￥142.79 (basic and diluted)
- Upward revision to full-year FY2020 financial forecasts.
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions, except for per share amounts and percentages | Nine months ended | Increase (Decrease) | Three months ended | Increase (Decrease) % | ||||||||
| December 31, | % | December 31, | ||||||||||
| 2020 | 2019 | 2020 | 2019 | |||||||||
| Net sales | 1,184,991 | 1,159,608 | 2.2 | % | 433,197 | 408,331 | 6.1 | % | ||||
| Operating profit | 115,535 | 93,204 | 24.0 | % | 46,355 | 31,417 | 47.5 | % | ||||
| Ratio of operating profit to net sales | 9.7 | % | 8.0 | % | - | 10.7 | % | 7.7 | % | - | ||
| Profit before income taxes | 109,340 | 93,050 | 17.5 | % | 43,335 | 29,720 | 45.8 | % | ||||
| Ratio of profit before income taxes to net sales | 9.2 | % | 8.0 | % | - | 10.0 | % | 7.3 | % | - | ||
| Profit attributable to owners of the parent | 83,636 | 49,326 | 69.6 | % | 34,853 | 22,099 | 57.7 | % | ||||
| Ratio of profit attributable to owners of the parent to net sales | 7.1 | % | 4.3 | % | - | 8.0 | % | 5.4 | % | - | ||
| Earnings per share attributable to owners of the parent | 142.79 | 83.80 | - | 59.50 | 37.55 | - | ||||||
| -Basic | ||||||||||||
| Earnings per share attributable to owners of the parent | 142.79 | 83.80 | - | 59.50 | 37.55 | - | ||||||
| -Diluted | ||||||||||||
Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2020:
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, 2020 is scheduled for 09:00 a.m. EST on Monday, January 25, 2021. 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, 2020, 28.7% of its consolidated sales were represented by small precision motors; 21.6% by automotive products; 36.2% by appliance, commercial and industrial products; 9.4% by machinery; 3.9% 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 Chairman and CEO.
| Contact: | |
| Masahiro Nagayasu | |
| General Manager | |
| Investor Relations | |
