KYOTO, Japan, July 20, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated results under the International Financial Reporting Standards ("IFRS") for the three-month period ended June 30, 2022.
The highlights are as follows:
- Net sales increased 20.8% Y/Y to ¥540.4 billion, marking a record high on a quarterly basis.
- Operating profit increased 0.2% Y/Y to ¥44.7 billion.
- Profit before income taxes and profit attributable to owners of the parent increased 30.3% Y/Y to ¥57.0 billion, 23.5% Y/Y to ¥41.3 billion, respectively. Both stood at record highs on a quarterly basis.
- EPS: ¥71.50 (basic and diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions except for per share amounts and percentages | Three months ended June 30 | Change % | |
| 2022 | 2021 | ||
| Net sales | 540,369 | 447,470 | 20.8% |
| Operating profit | 44,660 | 44,555 | 0.2% |
| Ratio of operating profit to net sales | 8.3% | 10.0% | - |
| Profit before income taxes | 56,989 | 43,752 | 30.3% |
| Ratio of profit before income taxes to net sales | 10.5% | 9.8% | - |
| Profit attributable to owners of the parent | 41,321 | 33,451 | 23.5% |
| Ratio of profit attributable to owners of the parent to net sales | 7.6% | 7.5% | - |
| Earnings per share attributable to owners of the parent -Basic | 71.50 | 57.14 | - |
| Earnings per share attributable to owners of the parent -Diluted | 71.50 | 57.14 | - |
Full copy of Nidec's financial statements for the three-month period ended June 30, 2022:
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the fiscal first quarter ended June 30, 2022 is scheduled for 09:00 a.m. EDT on Wednesday, July 20, 2022. 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 first quarter ended June 30, 2022, 20.6% of its consolidated sales were represented by small precision motors; 21.0% by automotive products; 41.2% by appliance, commercial and industrial products; 13.5% by machinery; 3.6% 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
+81-75-935-6140
ir@nidec.com