Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2019

KYOTO, Japan, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) NJDCY today announced its consolidated financial results under the International Financial Reporting Standards ("IFRS") for the period of April 1, 2019 through December 31, 2019.

The highlights are as follows:

  • Nine-month net sales up 3% Y/Y to a record 1,159.6 billion yen.
  • Three-month net sales up 5% Q/Q to a record 408.3 billion yen.
  • Nine-month operating profit down 24% Y/Y to 94.8 billion, mainly due to additional R&D and start-up expenses associated with traction motors (totaling approx.12 billion yen), as well as to business acquisitions collectively costing approx. 3 billion yen.
  • EPS: ¥171.62 (basic and diluted)
  • Downward revision to FY2019 guidance.

Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)

Yen in millions, except for per share amounts and percentagesNine months ended

December 31,
Increase (Decrease)

%
Three months ended

December 31,
Increase (Decrease)%
 2019 2018 2019 2018 
Net sales1,159,608 1,122,413 3.3%408,331 366,966 11.3%
Operating profit94,754 124,522 (23.9%)32,654 28,354 15.2%
     Ratio of operating profit to net sales8.2%11.1%- 8.0%7.7%- 
Profit before income taxes94,600 126,223 (25.1%)30,957 30,480 1.6%
     Ratio of profit before income taxes to net sales8.2%11.2%- 7.68.3%- 
Profit attributable to owners of the parent50,507 102,842 (50.9%)23,020 24,414 (5.7%)
     Ratio of profit attributable to owners of the parent to net sales4.4%9.2%- 5.6%6.7%- 
Earnings per share attributable to owners of the parent

-Basic
171.62 348.64   - 78.22 82.96  - 
Earnings per share attributable to owners of the parent

-Diluted
171.62 348.64 - 78.22 82.96 - 

Full copy of Nidec's financial statements for the third quarter and nine months ended December 31, 2019:

https://www.nidec.com/en/ir/news/2020/news0123-02/

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, 2019 is scheduled for 09:00 a.m. EST on Thursday, January 23, 2020. 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) NJDCY is a global leader in electric motor drive technology. For the nine months ended December 31, 2019, 28.9% of its consolidated sales were represented by small precision motors; 21.0% by automotive products; 36.0% by appliance, commercial and industrial products; 9.9% by machinery; 3.9% by electronic and optical components, and 0.3% 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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