KYOTO, Japan, Jan. 26, 2022 (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, 2021 through December 31, 2021.

The highlights are as follows:

• Nine months net sales stood at record high of ¥1,407.2 billion, 18.8% higher Y/Y.
  

• Nine months operating profit and profit before income taxes increased 16.6% Y/Y to ¥134.6 billion, 19.4% Y/Y to ¥130.6 billion, respectively. Both stood at record high.
  

• Q3 quarterly net sales increased 7.2% Q/Q to ¥496.5 billion, marking a record high for three consecutive quarters.
  

• Upward revision to year-end dividend forecast by ¥5 per share, resulting in the projected aggregate annual dividend ¥65 for FY2021.
  

• EPS: ¥171.67 (basic and diluted)

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

Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2021:
https://www.nidec.com/en/ir/news/2022/news0126-02/

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, 2021 is scheduled for 09:00 a.m. EST on Wednesday, January 26, 2022. 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 nine months ended December 31, 2021, 22.8% of its consolidated sales were represented by small precision motors; 21.4% by automotive products; 40.9% by appliance, commercial and industrial products; 11.0% by machinery; 3.7% 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.