Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2020

January 25, 2021 1:15 AM EST

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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 percentagesNine months endedIncrease (Decrease)Three months endedIncrease (Decrease)%
December 31,%December 31,
 2020 2019  2020 2019 
Net sales1,184,991 1,159,608 2.2%433,197 408,331 6.1%
Operating profit115,535 93,204 24.0%46,355 31,417 47.5%
  Ratio of operating profit to net sales9.7%8.0%                             - 10.7%7.7% -
Profit before income taxes109,340 93,050 17.5%43,335 29,720 45.8%
  Ratio of profit before income taxes to net sales9.2%8.0%10.0%7.3% -
Profit attributable to owners of the parent83,636 49,326 69.6%34,853 22,099 57.7%
  Ratio of profit attributable to owners of the parent to net sales7.1%4.3%8.0%5.4% -
Earnings per share attributable to owners of the parent142.79 83.80 59.50 37.55 -
-Basic
Earnings per share attributable to owners of the parent142.79 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: https://www.nidec.com/en/ir/news/2021/news0125-02/

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: https://www.nidec.com/en/ir/event/conference

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
 +81-75-935-6140
 ir@nidec.com

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Source: Nidec Corporation


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