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

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

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)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/conferenceAbout 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.

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