Nidec Announces Financial Results for Fiscal Year Ended March 31, 2024

Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2024.

The highlights are as follows:

• FY23 consolidated net sales and profit before income taxes stood at record highs.
• FY23 operating profit was 163.1 billion yen, as a result of 59.8 billion yen of structural reform expenses recorded due to strategic shift to improve the financial soundness and profitability of the Battery EV related business.
• We project 40 yen of interim dividend and 80 yen of aggregate annual dividend for the year ending March 31, 2025.
• EPS: ¥218.22 (basic and diluted)

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

Yen in millions, except for per share amounts and percentages	Year ended March 31,				Increase (Decrease) %		Three months ended March 31,				Increase (Decrease) %
	2024		2023				2024		2023
Net sales	2,348,202		2,242,824		4.7%		593,514		543,077		9.3%
Operating profit	163,106		100,028		63.1%		(6,172)		(24,376)		-
Ratio of operating profit to net sales	6.9%		4.5%