Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Nidec Corporation
  6. News
  7. Summary
    6594   JP3734800000

NIDEC CORPORATION

(6594)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 12/02
12900 JPY   -1.38%
12/01NIDEC : Notice Regarding the Status of Own Share Repurchase
PU
12/01Nidec Announces the Status of Own Share Repurchase
AQ
11/30NIDEC : Develops a Company-wide Basic Policy on Human Rights
PU
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Japan's Nidec raises profit outlook on strong auto, home appliance demand

10/26/2021 | 03:06am EST

TOKYO, Oct 26 (Reuters) - Japan's Nidec Corp increased its full-year earnings outlook by 6% on Tuesday, as the precision electric motor maker benefited from increased demand from home appliance makers, auto companies and others.

The company expects a full-year operating profit of 190 billion yen ($1.6 billion) compared with an earlier forecast of 180 billion yen. That is lower than an average 192.2 billion yen prediction based on estimates from 20 analysts, according to Refinitiv data.

The Japanese company, which is known for building motors for computer hard drives and smartphones, is looking to tap the growing demand for electric vehicles with energy-saving electric car motors known as e-axles.

In April, Nidec said it was aiming to capture around a third of that growing market and already supplies e-axles to automakers including China's GAC Motor and France's Peugeot SA, competing against Germany's Bosch Ltd and Toyota Motor affiliate BluE.

To expand production capacity, Nidec is investing 200 billion yen over a decade to build a European production hub in Serbia, that in addition to making motors for electric vehicles will build motors for household appliances.

The company's second-quarter operating profit rose 10% to 45.6 billion yen from a year earlier, worse than analysts' average estimate of 46.8 billion.

Pandemic restrictions in Vietnam cut the production of small precision motors and raised costs, Nidec chairman and founder, Shigenobu Nagamori, said at a briefing following the earnings release.

"Even if there is one infection in a factory with 5,000 workers authorities there will lock it down," Nagamori said.

Those production delays resulted in a 2.5 billion yen loss in the business segment for the second quarter, the company said. (Reporting by Tim Kelly; Editing by Shri Navaratnam, Rashmi Aich and Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOSCH LIMITED 2.16% 16657.45 End-of-day quote.30.25%
NIDEC CORPORATION -1.38% 12900 End-of-day quote.-0.62%
PEUGEOT INVEST -1.01% 117.2 Real-time Quote.25.16%
TOYOTA MOTOR CORPORATION 0.00% 2045.5 End-of-day quote.28.53%
All news about NIDEC CORPORATION
12/01NIDEC : Notice Regarding the Status of Own Share Repurchase
PU
12/01Nidec Announces the Status of Own Share Repurchase
AQ
11/30NIDEC : Develops a Company-wide Basic Policy on Human Rights
PU
11/18OKK Corporation announced that it expects to receive ?5.478950246 billion in funding fr..
CI
11/17Nidec to Execute a Capital Alliance Agreement to Purchase Stake in OKK Corporation via ..
AQ
11/01Notice Regarding the Status of Own Share Repurchase
PU
11/01Nidec Announces the Status of Own Share Repurchase
AQ
10/26Nikkei retreats on caution ahead of elections; Canon drops on forecast cut
RE
10/26Japan's Nidec raises profit outlook on strong auto, home appliance demand
RE
10/26Nidec Corporation Announces Dividend for the Second Quarter Ended September 30, 2021, P..
CI
More news
Analyst Recommendations on NIDEC CORPORATION
More recommendations
Financials
Sales 2022 1 830 B 16 174 M 16 174 M
Net income 2022 150 B 1 323 M 1 323 M
Net Debt 2022 301 B 2 658 M 2 658 M
P/E ratio 2022 50,4x
Yield 2022 0,50%
Capitalization 7 540 B 66 698 M 66 650 M
EV / Sales 2022 4,29x
EV / Sales 2023 3,91x
Nbr of Employees 112 551
Free-Float 84,5%
Chart NIDEC CORPORATION
Duration : Period :
Nidec Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NIDEC CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 12 900,00 JPY
Average target price 15 011,11 JPY
Spread / Average Target 16,4%
EPS Revisions
Managers and Directors
Shigenobu Nagamori Chairman & Chief Executive Officer
Jun Seki Executive President, COO & Representative Director
Hidetoshi Yokota CFO, Head-Investor Relations & Information Systems
Maki Okajima Chief Information Officer & Executive Officer
Koichiro Yasunaga Chief Compliance Officer & Head-Audit
Sector and Competitors
1st jan.Capi. (M$)
NIDEC CORPORATION-0.62%67 691
KEYENCE CORPORATION22.34%151 293
SCHNEIDER ELECTRIC SE37.58%102 206
EATON CORPORATION PLC34.89%64 362
EMERSON ELECTRIC CO.9.29%51 631
ROCKWELL AUTOMATION, INC.34.05%38 507