AstraZeneca’s LATIFY Phase III Trial of Ceralasertib Misses Primary Endpoint in Lung Cancer Study 
BP Nears $10 Billion Castrol Stake Sale to Stonepeak 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccines Portfolio 
Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Italy Fines Apple €98.6 Million Over App Store Dominance 
Uber and Baidu Partner to Test Robotaxis in the UK, Marking a New Milestone for Autonomous Ride-Hailing 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
KYOTO, Japan, July 26, 2017 -- Nidec Corporation (TSE:6594) (OTC US:NJDCY) today announced its consolidated results under the International Financial Reporting Standards (“IFRS”) for the three-month period ended June 30, 2017.
The highlights are as follows:
- Upward revision to the first half and full-year FY2017 financial performance forecasts.
- Quarterly net sales and operating profit increased 24% Y/Y to record highs of ¥343.1 billion and ¥39.0 billion, respectively.
- Quarterly operating profit ratios for Small Precision Motors, Machinery, Electronic & Optical Components and Other Products surpassed 15%, the minimum target for FY2020.
- Profit attributable to owners of the parent improved by 28% Y/Y to ¥28.2 billion.
- EPS: 95.22 (basic)
95.22 (diluted)
Selected Consolidated Results of Operations (Unaudited) (IFRS-Based)
| Yen in millions except for per share amounts and percentages | Three months ended June 30 | Change % | ||||
| 2017 | 2016 | |||||
| Net sales | 343,091 | 276,206 | 24.2 | % | ||
| Operating profit | 39,022 | 31,524 | 23.8 | % | ||
| Ratio of operating profit to net sales | 11.4 | % | 11.4 | % | - | |
| Profit before income taxes | 36,326 | 29,087 | 24.9 | % | ||
| Ratio of profit before income taxes to net sales | 10.6 | % | 10.5 | % | - | |
| Profit attributable to owners of the parent | 28,194 | 22,028 | 28.0 | % | ||
| Ratio of profit attributable to owners of the parent to net sales | 8.2 | % | 8.0 | % | - | |
| Earnings per share attributable to owners of the parent -Basic | 95.22 | 74.27 | - | |||
| Earnings per share attributable to owners of the parent -Diluted | 95.22 | 74.27 | - | |||
Full copy of Nidec’s financial statements for the year ended June 30, 2017:
http://www.nidec.com/en-Global/ir/news/2017/news0726-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the fiscal first quarter ended June 30, 2017 is scheduled for 09:00 a.m. EDT on Wednesday, July 26, 2017. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY17Q1/
About Nidec Corporation
Nidec Corporation (TSE:6594) (OTC US:NJDCY) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2017, 35.0% of its consolidated sales were represented by appliance, commercial and industrial products; 30.2% by small precision motors; 20.0% by automotive products; 9.5% by machinery; 4.9% by electronic and optical components, and 0.3% by the remaining products lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
Contact: Masahiro Nagayasu General Manager Investor Relations +81-75-935-6140 [email protected]
