Nidec Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2019

Written by Customer Service on . Posted in Public Companies.

KYOTO, Japan, Oct. 23, 2019 (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, 2019 through September 30, 2019.
The highlights are as follows:First-half net sales remain flat Y/Y and the annual forecast remains unchanged.First-half operating profit decreased by 35% Y/Y due to the additional R&D and start-up costs (approx. 8.5 billion yen) of traction motors which are in high demand, and to the additional acquisition related expenses of Embraco (approx. 3 billion yen) needed to promote the modularization strategy. R&D and start-up costs of traction motors will continue in the second-half (approx. 30 billion yen for full year) and on account of the above, the annual forecast has been revised down.First-half profit attributable to owners of the parent decreased by 65% Y/Y due to the loss (approx. 20 billion yen) related to the sale of Secop following the European Commission’s instructions. The annual forecast has been revised down based on the first-half results and second-half operating profit forecast. However, the annual dividend has been revised up by 5 yen to 115 yen.EPS: ¥93.65 (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, 2019:
https://www.nidec.com/en/ir/news/2019/news1023-01/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, 2019 is scheduled for 09:00 a.m. EDT on Thursday, October 24, 2019. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conferenceAbout Nidec Corporation

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.