Nidec Announces Financial Results for Fiscal Third Quarter and Nine Months Ended December 31, 2020

KYOTO, Japan, Jan. 25, 2021 (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 December 31, 2020.

The highlights are as follows:

• Nine months net sales stood at record high ¥1,185.0 billion, 2.2% higher Y/Y. Nine months operating profit increased 24.0% Y/Y to ¥115.5 billion.
• Q3 quarterly net sales increased 4.4% Q/Q to ¥433.2 billion, marking a record high for two consecutive quarters. Operating profit increased 12.0% Q/Q to ¥46.4 billion due to increased sales and contributions from comprehensive improvements on cost structure and optimization of fixed cost through WPR4 program.
• EPS: ￥142.79 (basic and diluted)
• Upward revision to full-year FY2020 financial forecasts.

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

Yen in millions, except for per share amounts and percentages	Nine months ended				Increase (Decrease)		Three months ended				Increase (Decrease) %
	December 31,				%		December 31,
	2020		2019				2020		2019
Net sales	1,184,991		1,159,608		2.2	%	433,197		408,331		6.1	%
Operating profit	115,535		93,204		24.0	%	46,355		31,417		47.5	%
Ratio of operating profit to net sales	9.7	%	8.0	%	-		10.7	%	7.7	%	-
Profit before income taxes	109,340		93,050		17.5	%	43,335		29,720		45.8	%
Ratio of profit before income taxes to net sales	9.2	%	8.0	%	-		10.0	%	7.3	%	-
Profit attributable to owners of the parent	83,636		49,326		69.6	%	34,853		22,099		57.7	%
Ratio of profit attributable to owners of the parent to net sales	7.1	%	4.3	%	-		8.0	%	5.4	%	-
Earnings per share attributable to owners of the parent	142.79		83.80		-		59.50		37.55		-
-Basic
Earnings per share attributable to owners of the parent	142.79		83.80		-		59.50		37.55		-
-Diluted

Full copy of Nidec’s financial statements for the third quarter and nine months ended December 31, 2020: