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

NIDEC CORPORATION

(6594)
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Nidec : Announces Financial Results for Fiscal Second Quarter and Six Months Ended September 30, 2020

10/26/2020 | 01:16am EST

KYOTO, Japan, Oct. 26, 2020 (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 September 30, 2020.

The highlights are as follows: 

  • First half net sales and operating profit increased 0.1% Y/Y to ¥751.8 billion, 12.0% Y/Y to ¥69.2 billion, respectively. Both net sales and operating profit increased Y/Y.
  • Q2 quarterly net sales increased 23.2% Q/Q to ¥414.9 billion, marking a record high. Operating profit increased 48.9% Q/Q to ¥41.4 billion due to contributions from comprehensive improvements on cost structure and optimization of fixed cost through WPR4 program. Double-digit operating profit ratio (10%) recovered
  • Upward revision to full-year FY2020 financial forecasts
  • EPS: ¥ 83.28 (basic and diluted)

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

Yen in millions, except for per share amounts and percentagesSix months ended
September 30,
Increase
(Decrease)
%
Three months ended
September 30,
Increase
(Decrease)
%
 20202019 20202019 
Net sales751,794751,2770.1%414,918390,4036.3%
Operating profit69,18061,78712.0%41,38734,15521.2%
Ratio of operating profit to net sales9.2 %8.2 % -10.0%8.7% -
Profit before income taxes66,00563,3304.2%38,59532,39519.1%
Ratio of profit before income taxes to net sales8.8%8.4%-9.3%8.3% -
Profit attributable to owners of the parent48,78327,22779.2%28,72523,94320.0%
Ratio of profit attributable to owners of the parent to net sales6.5 %3.6 %-6.9%6.1% -
Earnings per share attributable to owners of the parent
- basic
83.2846.26-49.0440.67-
Earnings per share attributable to owners of the parent
- diluted
83.2846.26-49.0440.67 -

Full copy of Nidec’s financial statements for the second quarter and six months ended September 30, 2020:
https://www.nidec.com/en/ir/news/2020/news1026-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the second quarter and six months ended September 30, 2020 is scheduled for 09:00 a.m. EDT on Monday, October 26, 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) (OTC US: NJDCY) is a global leader in electric motor drive technology. For the six months ended September 30, 2020, 29.7% of its consolidated sales were represented by small precision motors; 19.8% by automotive products; 36.4% by appliance, commercial and industrial products; 9.9% 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.

Contact:
 Masahiro Nagayasu
 General Manager
 Investor Relations
 +81-75-935-6140
 ir@nidec.com

nidecnewlogo.jpg

Source: Nidec Corporation

2020 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2021 1 559 B 14 970 M 14 970 M
Net income 2021 111 B 1 069 M 1 069 M
Net Debt 2021 405 B 3 894 M 3 894 M
P/E ratio 2021 69,0x
Yield 2021 0,45%
Capitalization 7 717 B 74 189 M 74 114 M
EV / Sales 2021 5,21x
EV / Sales 2022 4,71x
Nbr of Employees 117 206
Free-Float 85,4%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 11 470,59 JPY
Last Close Price 13 175,00 JPY
Spread / Highest target 6,26%
Spread / Average Target -12,9%
Spread / Lowest Target -40,0%
EPS Revisions
Managers
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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