KYOTO, Japan, April 30, 2020 (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, 2020.
The highlights are as follows:Net sales up 4% Y/Y to a record 1,535 billion yen.Operating profit down 15% Y/Y to 110.3 billion yen mainly due to increased costs associated with additional R&D and production ramp-up (approx. 14 billion yen) of traction motors and large-scale business acquisitions (approx. 3 billion yen) .Net profit down 45% Y/Y to 60.1 billion yen mainly due to the loss of 15.7 billion yen incurred through the sale of Secop’s refrigerator compressor business.EPS: 102.13yen (basic and diluted)Year-end dividend: 30.0 yen per shareAnnual dividend: 57.5 yen per shareSelected Consolidated Results of Operations (Unaudited)Full copy of Nidec’s financial statements for the year ended March 31, 2020:
https://www.nidec.com/en/ir/news/2020/news0430-02/A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2020 is scheduled for 09:00 a.m. EDT on Thursday, April 30, 2020. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conferenceAbout Nidec Corporation
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