Nidec Announces Financial Results for Fiscal Year Ended March 31, 2021
KYOTO, Japan, April 22, 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 fiscal year ended March 31, 2021.
The highlights are as follows:
- Net sales stood at a record high of ¥1,618.1 billion, 5.4% higher Y/Y. Operating profit increased 47.4% Y/Y to ¥160.0 billion.
- Q4 quarterly operating profit ratio achieved 10.3% due to enhanced profitability through WPR4 program implemented since the start of FY20, and sales recovery. Double-digit operating profit ratio was successfully maintained for three consecutive quarters.
- Profit attributable to owners of the parent increased 108.7% Y/Y to ¥122.0 billion.
- EPS: ¥208.25 (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)% | ||
| 2021 | 2020 | 2021 | 2020 | |||
| Net sales | 1,618,064 | 1,534,800 | 5.4% | 433,073 | 375,192 | 15.4 % |
| Operating profit | 160,011 | 108,558 | 47.4% | 44,476 | 15,354 | 189.7 % |
| Ratio of operating profit to net sales | 9.9% | 7.1% | - | 10.3% | 4.1 % | - |
| Profit before income taxes | 152,978 | 105,160 | 45.5% | 43,638 | 12,110 | 260.3 % |
| Ratio of profit before income taxes to net sales | 9.5% | 6.9% | - | 10.1 % | 3.2 % | - |
| Profit attributable to owners of the parent | 121,977 | 58,459 | 108.7% | 38,341 | 9,133 | 319.8% |
| Ratio of profit attributable to owners of the parent to net sales | 7.5% | 3.8% | - | 8.9 % | 2.4 % | - |
| Earnings per share attributable to owners of the parent -Basic | 208.25 | 99.37 | - | 65.46 | 15.55 | - |
| Earnings per share attributable to owners of the parent -Diluted | 208.25 | 99.37 | - | 65.46 | 15.55 | - |
Full copy of Nidec’s financial statements for the year ended March 31, 2021:
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2021 is scheduled for 09:00 a.m. EDT on Thursday, April 22, 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 year ended March 31, 2021, 27.4% of its consolidated sales were represented by small precision motors; 22.1% by automotive products; 37.2% by appliance, commercial and industrial products; 9.3% by machinery; 3.8% 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
