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Nidec Corp. Quarterly Results Preview


Nidec Corp. is set to announce its first-quarter results on Thursday, providing insights into the company’s financial performance. Here’s a breakdown of what to expect:

Net Profit Forecast

Analysts surveyed by FactSet anticipate a 17% decrease in net profit for Nidec, with the figure estimated at ¥34.22 billion ($246.5 million) for the quarter ending on June 30. This compares to a net profit of ¥41.32 billion in the corresponding period last year.

Revenue Projection

According to the FactSet poll, first-quarter revenue is expected to rise by 0.7%, reaching ¥543.90 billion compared to the previous year.

Key Points to Monitor

Restructuring Efforts

Nidec has demonstrated its commitment to cost reduction and aims for a V-shaped earnings recovery in fiscal year 2021. In the previous fiscal year, the company recorded restructuring costs amounting to ¥75.7 billion. Investors will closely observe whether there are any additional expenses related to restructuring in the first quarter.

Electric Vehicle (EV) Motors

Nidec projects significant growth in sales of its electric-vehicle traction motors this fiscal year. The company anticipates an increase from 339,000 units sold in the previous fiscal year to 949,000 units. Sales value is also expected to rise from ¥54.0 billion to ¥152.5 billion. Investors will be keen on tracking the momentum of this growth in EV motor sales.

Outlook for the Future

Nidec has provided guidance for the fiscal year ending in March 2024, with an estimated decline of 1.9% in revenue to ¥2.200 trillion and a net profit expected to triple to ¥165.00 billion. Investors will be interested in any updates or revisions to this guidance.

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