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Nidec Corporation (OTCPK:NJDCY) Q1 2024 Earnings Conference Call July 23, 2024 4:00 AM ET Company Participants Akinobu Samura - SVP and CFO Mitsuya Kishida - President and CEO Shigenobu Nagamori - Founder and Chairman of the Board Conference Call Participants Daiki Takayama - Goldman Sachs Manabu Akizuki - Nomura Securities Takayuki Naito - Citigroup Securities Unidentified Company Representative Now we would like to start the presentation on Nidec Corporation's performance for the First Quarter of Fiscal Year 2024. [Operator Instructions] Nidec Corporation's representatives to be presenting today's earnings results are as follows: Mr.
KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594) (OTC US: NJDCY) today 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.
KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO:6594; OTC US: NJDCY) (“Nidec” or the “Company”) today announced that its Board of Directors has resolved to dispose treasury stock through third-party allotment (the “Disposal of Treasury Stock”) at a meeting held on July 23, 2024. 1. Outline of the Disposal of Treasury Stock 1. Date of Disposal August 7, 2024 2. Class and Total Number of Shares to be Disposed of 381,600 shares of common stock A) Board Incentive Plan Trust Account: 26.
Japanese electric motor maker Nidec raised its full-year operating profit forecast by 4.3% on Tuesday off the back of a recovery in demand for hard drive motors, efforts to raise its profitability and a weaker yen.
Nidec's most recent quarter underlines its ongoing challenges hitting its own profitability targets, as the company took another large charge for its e-axle business. This year looks challenging, as Nidec prioritizes profitability in its e-axles business, Chinese BEV customer sales slowed, and other markets like appliances and industrial motors see softness. Nidec has opportunities in data centers and energy efficiency, as well as EVs, but hitting profit improvement targets is increasingly important for the stock.
Japanese electronic motor maker Nidec sees its business in water-cooling modules for generative artificial intelligence data centres expanding to 1 trillion yen ($6.32 billion) in sales.
Nidec Corp. reported a fourth-quarter net loss on restructuring expenses for its electric-vehicle traction motor business as severe competition disrupts the EV market in China.
Japanese electric motor maker Nidec on Tuesday posted an operating loss for the January to March quarter, hit by the costs of restructuring steps taken to deal with fierce price competition in China's electric vehicle market.
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