KYOTO, Japan, Oct. 26, 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 period of April 1, 2020 through September 30, 2020.The highlights are as follows: First half net sales and operating profit increased 0.1% Y/Y to ¥751.8 billion, 12.0% Y/Y to ¥69.2 billion, respectively. Both net sales and operating profit increased Y/Y.Q2 quarterly net sales increased 23.2% Q/Q to ¥414.9 billion, marking a record high. Operating profit increased 48.9% Q/Q to ¥41.4 billion due to contributions from comprehensive improvements on cost structure and optimization of fixed cost through WPR4 program. Double-digit operating profit ratio (10%) recoveredUpward revision to full-year FY2020 financial forecastsEPS: ¥ 83.28 (basic and diluted)Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2020:
https://www.nidec.com/en/ir/news/2020/news1026-02/A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2020 is scheduled for 09:00 a.m. EDT on Monday, October 26, 2020. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conferenceAbout Nidec Corporation
Nidec Corporation (TSE: 6594) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2020, 29.7% of its consolidated sales were represented by small precision motors; 19.8% by automotive products; 36.4% by appliance, commercial and industrial products; 9.9% 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.
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