Nidec Announces Financial Results for Fiscal Year Ended March 31, 2021

Rhea-AI Summary

Nidec Corporation (TSE: 6594, OTC US: NJDCY) reported its financial results for the fiscal year ended March 31, 2021. Net sales reached a record high of ¥1,618.1 billion, reflecting a 5.4% year-over-year increase. Operating profit surged 47.4% to ¥160.0 billion, with a quarterly operating profit ratio of 10.3%. Profit attributable to owners rose 108.7% to ¥122.0 billion, translating to an EPS of ¥208.25. This financial performance underscores Nidec's robust recovery, driven by operational efficiencies achieved through the WPR4 program.

Positive

• Net sales increased by 5.4% to ¥1,618.1 billion.
• Operating profit rose by 47.4% to ¥160.0 billion.
• Profit attributable to owners surged 108.7% to ¥122.0 billion.
• EPS reached ¥208.25, reflecting strong earnings growth.

Negative

• None.

KYOTO, Japan, April 22, 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 fiscal year ended March 31, 2021.

The highlights are as follows:

• Net sales stood at a record high of ¥1,618.1 billion, 5.4% higher Y/Y. Operating profit increased 47.4% Y/Y to ¥160.0 billion.
• Q4 quarterly operating profit ratio achieved 10.3% due to enhanced profitability through WPR4 program implemented since the start of FY20, and sales recovery. Double-digit operating profit ratio was successfully maintained for three consecutive quarters.
• Profit attributable to owners of the parent increased 108.7% Y/Y to ¥122.0 billion.
• EPS: ¥208.25 (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)%
	2021	2020		2021	2020
Net sales	1,618,064	1,534,800	5.4%	433,073	375,192	15.4 %
Operating profit	160,011	108,558	47.4%	44,476	15,354	189.7 %
Ratio of operating profit to net sales	9.9%	7.1%	-	10.3%	4.1 %	-
Profit before income taxes	152,978	105,160	45.5%	43,638	12,110	260.3 %
Ratio of profit before income taxes to net sales	9.5%	6.9%	-	10.1 %	3.2 %	-
Profit attributable to owners of the parent	121,977	58,459	108.7%	38,341	9,133	319.8%
Ratio of profit attributable to owners of the parent to net sales	7.5%	3.8%	-	8.9 %	2.4 %	-
Earnings per share attributable to owners of the parent -Basic	208.25	99.37	-	65.46	15.55	-
Earnings per share attributable to owners of the parent -Diluted	208.25	99.37	-	65.46	15.55	-

Full copy of Nidec’s financial statements for the year ended March 31, 2021:
https://www.nidec.com/en/ir/news/2021/news0422-02/

A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal year ended March 31, 2021 is scheduled for 09:00 a.m. EDT on Thursday, April 22, 2021. 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 year ended March 31, 2021, 27.4% of its consolidated sales were represented by small precision motors; 22.1% by automotive products; 37.2% by appliance, commercial and industrial products; 9.3% by machinery; 3.8% 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

FAQ

What were Nidec's net sales for the fiscal year ended March 31, 2021?

Nidec's net sales for the fiscal year ended March 31, 2021, were ¥1,618.1 billion.

How much did Nidec's operating profit increase in 2021?

Nidec's operating profit increased by 47.4% to ¥160.0 billion in 2021.

What is the EPS reported by Nidec for FY 2021?

The EPS reported by Nidec for the fiscal year 2021 was ¥208.25.

What percentage increase did Nidec see in profit attributable to owners in 2021?

Nidec saw a 108.7% increase in profit attributable to owners in 2021.

What was the quarterly operating profit ratio for Nidec in Q4 FY 2021?

Nidec's quarterly operating profit ratio for Q4 FY 2021 was 10.3%.