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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nidec Corporation    6594   JP3734800000

NIDEC CORPORATION

(6594)
  Report
End-of-day quote. End-of-day quote Tokyo Stock Exchange - 01/15
13550 JPY   -3.56%
2020NIDEC : Notice Regarding the Status of Own Share Repurch
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Japan's Nidec plans $2 billion EV motor factory in Europe - Nikkei

11/01/2020 | 10:41pm EST
Nidec Corp's logo is pictured at an earnings results news conference in Tokyo

TOKYO (Reuters) - Nidec Corp will spend 200 billion yen ($1.9 billion) on a new plant in Serbia to build motors for electric vehicles as it seeks to win more business from automakers turning away from internal combustion engines, the Nikkei newspaper reported.

Nidec founder Shigenobu Nagamori has said he wants a 35% market share for energy-saving electric motor technology know as e-axle or e-drive by 2030, which is expected to have grown ten times by then to as much as $30 billion a year.

The technology is expected to make electric vehicles more affordable and help cut carbon dioxide emissions from vehicles which account for 17% of global carbon dioxide emissions, according to the International Council on Clean Transportation in Washington.

The plant, which follows construction of an EV motor plant in China, is slated to open in 2023 with annual production of between 200,000 and 300,000 units a year, the Nikkei said.

A spokesman for Nidec declined to comment.

Nidec, also known for its miniature electric motors for smartphones and other electronic devices, acquired automotive electronic control system producer Honda Elesys in 2014 and the automotive electronics unit of Omron Corp in 2019.

It faces competition from other companies such as Japan's Denso Corp and Aisin Seiki Corp, which last year formed a joint venture called BluE Nexus in 2019.

(Reporting by Tim Kelly; Editing by Edwina Gibbs)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AISIN SEIKI CO., LTD. -3.62% 3065 End-of-day quote.-0.97%
DENSO CORPORATION -3.25% 5739 End-of-day quote.-6.44%
NIDEC CORPORATION -3.56% 13550 End-of-day quote.4.39%
NIKKEI 225 -0.62% 28519.18 Real-time Quote.4.57%
OMRON CORPORATION -2.12% 9700 End-of-day quote.5.43%
TOYOTA MOTOR CORPORATION -1.65% 7733 End-of-day quote.-2.82%
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More news
Financials
Sales 2021 1 566 B 15 074 M 15 074 M
Net income 2021 112 B 1 074 M 1 074 M
Net Debt 2021 404 B 3 893 M 3 893 M
P/E ratio 2021 71,2x
Yield 2021 0,44%
Capitalization 7 937 B 76 463 M 76 414 M
EV / Sales 2021 5,33x
EV / Sales 2022 4,80x
Nbr of Employees 117 206
Free-Float 85,4%
Chart NIDEC CORPORATION
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Technical analysis trends NIDEC CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 12 997,06 JPY
Last Close Price 13 550,00 JPY
Spread / Highest target 23,2%
Spread / Average Target -4,08%
Spread / Lowest Target -41,7%
EPS Revisions
Managers and Directors
NameTitle
Shigenobu Nagamori Chairman & Chief Executive Officer
Jun Seki President, COO & Representative Director
Takayuki Sakurai Chief Financial Officer & Executive Officer
Mikio Katayama Chief Technology Officer & Vice President
Hiroshi Kobe Vice Chairman & Chief Sales Officer
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