Nidec Announces Financial Results for Fiscal First Quarter Ended June 30, 2020

KYOTO, Japan, July 21, 2020 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594) NJDCY today announced its consolidated results under the International Financial Reporting Standards ("IFRS") for the three-month period ended June 30, 2020.

The highlights are as follows:

• The net sales stood at 336.9 billion yen, 7% down Y/Y.
• Despite reduced profit due to the lower sales, the operating profit increased to 28.1 billion yen, 2% up Y/Y mainly contributions from comprehensive improvements on cost structure through WPR4 program.
• The profit attributable to owners of the parent increased by 6.2 fold Y/Y to 20.3 billion yen as FY19Q1 saw losses mainly on the transfer of Secop's compressor business for refrigeration.
• EPS: ¥34.63 (basic and diluted)
   

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

Full copy of Nidec's financial statements for the three-month period ended June 30, 2020:
https://www.nidec.com/en/ir/news/2020/news0721-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the fiscal first quarter ended June 30, 2020 is scheduled for 09:00 a.m. EDT on Tuesday, July 21, 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 first quarter ended June 30, 2020, 31.0% of its consolidated sales were represented by small precision motors; 16.9% by automotive products; 37.1% by appliance, commercial and industrial products; 10.6% by machinery; 4.2% 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.