NIDEC CORPORATION, First Half Net Income Decreases by 29%

About Information Provided on This Site

The information provided on our website 'Kabutan.com' is not intended to constitute investment solicitation or investment advisory services.
All investment decisions should be made at your own discretion and judgment.
The data on our website is provided by Tokyo Stock Exchange, Osaka Exchange, Nagoya Securities Exchange, JPX Market Innovation & Research, Japannext, and other sources.
Copyright of the Nikkei Stock Average belongs to Nikkei Inc. Stock price charts displayed on Kabutan.com are provided solely for the purpose of reviewing historical price movements of the securities.
These charts neither suggest nor guarantee future price movements of the securities and do not constitute recommendations to buy or sell.
In our financial results coverage, the term 'Surprise Results' identifies securities that demonstrate a significant degree of surprise in their earnings announcements.
This significance is quantitatively assessed based on multiple factors, including: the nature of the announcement (full-year or quarterly results); types of revisions (earnings or dividend forecasts); and numerical analysis comparing the announced results with both the company's previous forecasts and historical performance.
The 'Surprise Ranking' presents these results in order of their calculated surprise factor. Please note that neither these results nor rankings are intended to suggest or guarantee future performance of the listed securities, nor should they be construed as recommendations to buy or sell.

Wed Oct 23, 2024 3:15 pm JST Earnings

6594 NIDEC CORPORATION 【IFRS】

Earnings Report

NIDEC CORPORATION <6594> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 23rd (15:15). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 28.5% from the same period last year to 75.5 billion yen, fell short of the previous forecast of 97 billion yen.

The progress rate against the 185 billion yen full-year plan was 40.8%, also falling below the five-year average of 87.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 5.7 times that of the same period last year, reaching 109 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 19.5 billion yen, a 53.1% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 9.3% in the same period last year to 9.4%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	1,118,571	88,670	110,677	80,571	75.2	100.2	Oct 24, 2022	IFRS
Apr - Sep, 2023	1,157,448	115,309	144,886	105,710	92.0	71.6	Oct 23, 2023	IFRS
Apr - Sep, 2024	1,293,811	121,000	100,174	75,572	65.8	40.1	Oct 23, 2024	IFRS
YoY	+11.8%	+4.9%	-30.9%	-28.5%	-28.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	1,300,000	115,000	130,000	97,000	84.4	20	Jul 23, 2024	IFRS
Apr - Sep, 2024 Results	1,293,811	121,000	100,174	75,572	65.8	20	Oct 23, 2024	IFRS
Revision Rate	-0.5%	+5.2%	-22.9%	-22.1%	-22.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,189,711	47,245	57,481	19,189	16.7	20	Apr 23, 2024	IFRS
Oct - Mar, 2024 Guidance	1,206,189	119,000	149,826	109,428	95.2	20	Oct 23, 2024	IFRS
YoY	+1.4%	+151.9%	+160.7%	+470.3%	+470.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,230,027	89,923	110,435	36,982	32.1	35	Apr 24, 2023	IFRS
Mar, 2024	2,347,159	162,554	202,367	124,899	108.7	37.50	Apr 23, 2024	IFRS
Mar, 2025 Guidance	2,500,000	240,000	250,000	185,000	161.0	40	Jul 23, 2024	IFRS
YoY	+6.5%	+47.6%	+23.5%	+48.1%	+48.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	593,086	55,133	58,781	41,644	36.2	9.3	Oct 23, 2023	IFRS
Oct - Dec, 2023	587,625	52,674	47,520	39,184	34.3	9.0	Jan 24, 2024	IFRS
Jan - Mar, 2024	602,086	-5,429	9,961	-19,995	-17.4	-0.9	Apr 23, 2024	IFRS
Apr - Jun, 2024	648,166	60,259	78,603	56,044	48.8	9.3	Jul 23, 2024	IFRS
Jul - Sep, 2024	645,645	60,741	21,571	19,528	17.0	9.4	Oct 23, 2024	IFRS
YoY	+8.9%	+10.2%	-63.3%	-53.1%	-53.1%