NIDEC CORP ADR - NJDCY STOCK NEWS

Nidec Corporation (OTC US: NJDCY) reported record net sales of ¥910.7 billion for the first half of FY2021, an increase of 21.1% year-over-year. Operating profit rose by 30.4% to ¥90.2 billion, with a profit attributable to owners up 38.6% to ¥67.6 billion. The company improved its operating profit ratio for its Appliance, Commercial, and Industrial Products to 10.7%. Additionally, Nidec revised its full-year financial forecasts upward, with EPS reaching ¥115.49.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) has released its financial results for the six months ending September 30, 2021, showing significant growth compared to its previous forecast. Net sales reached ¥910,668 million, exceeding the anticipated ¥800,000 million by ¥110,668 million (13.8%). Operating profit also surpassed forecasts at ¥90,196 million, up from ¥80,000 million. The company has revised its fiscal year forecast, projecting net sales of ¥1,800,000 million and operating profit of ¥190,000 million for the year ending March 31, 2022, reflecting an increase of ¥100,000 million (5.9%).

Nidec Corporation announced on October 3, 2021, that it has satisfied the listing criteria for the Tokyo Stock Exchange's (TSE) new Prime Market segment. The Company received an initial assessment confirming its compliance on July 9, 2021. Subsequently, the board resolved to apply for the Prime Market listing as the TSE transitions to stricter criteria. Nidec will adhere to the TSE application schedule moving forward.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) reported no share repurchases for September 2021, despite a previously authorized buyback plan of up to 4 million shares, totaling 50 billion yen, set to last until January 2022. As of September 30, 2021, the company has repurchased 404,800 shares for approximately 4.82 billion yen since the buyback program's initiation on January 26, 2021. The lack of repurchases this past month may indicate strategic financial management while still engaging in share buybacks throughout the program.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its share repurchase status on September 1, 2021. The company reported that from August 1 to August 31, 2021, it repurchased 0 shares for a total amount of 0 yen, under a buyback program initiated on January 25, 2021. Since the start of the program, a total of 404,800 shares have been repurchased for approximately 4.82 billion yen. The buyback program allows for the repurchase of up to 4 million shares until January 25, 2022.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) has completed the acquisition of Mitsubishi Heavy Industries Machine Tool Co., Ltd., enhancing its machine tool business. This deal includes three overseas subsidiaries and is expected to create synergies in manufacturing and sales. Although the acquisition is anticipated to have no significant impact on the financial performance for the fiscal year ending March 31, 2022, Nidec aims to leverage both companies' strengths to expand in the global machine tools market. Further stock purchases in India and China are expected by August 2021.

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its share repurchase status on August 2, 2021. The repurchase period ran from July 1 to July 31, 2021, during which no shares were repurchased, totaling 0 yen. Previously, on January 25, 2021, the Board resolved to allow repurchases of up to 4 million shares or 50 billion yen, starting from January 26, 2021, to January 25, 2022. As of July 31, 2021, Nidec repurchased 404,800 shares for approximately 4.82 billion yen.

Nidec Corporation (NJDCY) announced plans to establish a joint venture (JV) with Hon Hai Technology Group and Foxtron Vehicle Technologies. This JV aims to ensure a stable supply of traction motors and expand market opportunities for Nidec. Following a memorandum of understanding signed in March 2021, feasibility studies and contract negotiations will continue, targeting a JV agreement by the end of December 2021. The JV, based in Taiwan, will focus on developing and producing traction motor systems, supporting Nidec's goal of producing 10 million units by 2030.

Nidec Corporation reported strong consolidated results for the three months ending June 30, 2021, with net sales reaching a record ¥447.5 billion, up 32.8% year-over-year. Operating profit surged 60.3% to ¥44.6 billion, resulting in a 10.0% operating profit ratio. Profit attributable to owners rose 66.8% to ¥33.5 billion, with EPS standing at ¥57.14. The results reflect successful implementation of the WPR4 program and a recovery in sales, maintaining a double-digit operating profit ratio for four consecutive quarters.