Nidec Corporation announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2024.
The highlights are as follows:
Consolidated net sales and operating profit stood at record highs under the new management.
Operating profit increased due to a shift to a highly profitable business portfolio in the Small Precision Motors, and the recording of gains on revaluation of shares following the consolidation of Nidec PSA eMotors SAS, a joint venture with Stellantis.
Upward revision to FY24 Full-year and the 1H forecast.
Full copy of Nidec’s financial statements for the three-month period ended June 30, 2024:
https://www.nidec.com/en/ir/news/2024/news0723-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2024 is scheduled for Wednesday, July 24, 2024. To listen to the webcast, please visit Nidec website at:
https://www.nidec.com/en/ir/event/conference
