Nidec’s Profit Warning Implies Turbulence in Chinese Economy, but its Long-Term Growth Is Intact
Nidec lowered its earnings guidance for fiscal 2019 (financial year ending March 2019), owing to the economic slowdown in China. The management mentioned that orders from China had been gradually slowing down since last summer and dropped significantly in November and December, approximately 30% below the previous year because of the excess inventories in various industries, such as auto and home appliances. Assuming orders from China will not recover, Nidec has cut its revenue guidance for this...NIDEC and its subsidiaries are primarily engaged in the design, development, manufacture and marketing of small precision motors, mid-size motors, machinery, electronic and optical components, and other products. Co.'s principal products are spindle motors for hard disk drives, motors for optical disk drives, small precision fans and other small motors; mid-size motors; test systems, measuring equipment, power transmission equipment, factory automation systems, card readers and industrial robots; camera shutters, camera lens units, switches, trimmer potentiometers, motor driven actuator units, processing and precision plastic mold products; and auto parts and pivot assemblies.
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