Nidec Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 23, 2024
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Nidec Corporation reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was JPY 594,026 million compared to JPY 568,980 million a year ago. Net income was JPY 39,844 million compared to JPY 17,428 million a year ago. Basic earnings per share was JPY 69.34 compared to JPY 30.32 a year ago.
For the nine months, sales was JPY 1,754,688 million compared to JPY 1,699,747 million a year ago. Net income was JPY 145,908 million compared to JPY 104,077 million a year ago. Basic earnings per share was JPY 253.93 compared to JPY 180.72 a year ago.
Nidec Corporation specializes in the development, manufacturing and marketing of small precision motors and automotive and appliance components. Net sales break down by family of products as follows:
- appliances, air-conditioning and industrial equipment motors (40.5%);
- small precision motors (21.9%): pin motors for hard drives, fan motors, vibrating motors, brush motors and motor applications, etc. ;
- automotive components (21.3%);
- machines (12.1%): industrial robots, card readers, test systems, presses and power transmission drives, etc. ;
- electronic and optical components (3.9%): switches, trimmer potentiometers, lens units and camera shutters, etc. ;
- other (0.3%).
The net sales are distributed geographically as follows: Japan (17.8%), China (26.7%), the United States (21.6%), Germany (6.1%), Italy (5.5%), Thailand (5.2%) and other (17.1%).
NIDEC CORPORATION 
