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Nidec Announces its Revision of Upward Consolidated Fiscal First-Half and Year-End Financial Forecasts for the Year Ending March 31, 2025
Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the "Company") today announced an upward revision to its IFRS-based consolidated fiscal first-half and year-end financial forecasts for the year ending March 31, 2025, originally announced on April 23, 2024. The details are as follows: 1. Revised consolidated financial forecasts (IFRS) for the six months ending September 30, 2024 2. Revised consolidated financial forecasts (IFRS) for the year ending March 31, 2025 3. Reasons for the revision for the financial forecast Nidec started a new management system on April 1, 2024 and is focusing on improving profitability in each business area. In the small precision motors business, the demand for HDD motors is recovering, and that for water-cooling systems for AI servers is rapidly expanding. In the automotive business, Nidec swiftly shifted its strategy to put first priority on its profitability in fiscal 2023 to respond to the growth slowdown of the Battery EV market and fierce price competition. Nidec will further strengthen cooperation with the joint venture partner to minimize risks, and also focus on component supply with its technical capabilities and cost competitiveness which were cultivated in the fierce market. Nidec recorded a gain on step acquisition as Nidec PSA emotors became its consolidated subsidiary. In the appliance, commercial and industrial products business, Nidec expects rapid demand expansion of power generators which are essential to data centers, and highly growing demand of Battery Energy Storage Systems which are accelerated by expansion of green innovation related demand. Nidec records the foreign exchange gain of 15.0 billion because the Japanese yen against the US dollar and the Euro remains weaker than expected. As a result, the financial results for the three months ended June 30, 2024 exceeded the Company's previous expectations, originally announced on April 23, 2024, and we revised its forecasts for the first-half and year-end for the year ending March 31, 2025. Cautionary Statement Concerning Forward-Looking Information This press release contains forward-looking statements including expectations, estimates, projections, plans, and strategies. Such forward-looking statements are based on management's assumptions and beliefs in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such risks and uncertainties include, but are not limited to, changes in customer circumstances and demand, exchange rate fluctuations, and the Nidec Group's ability to design, develop, mass produce and win acceptance of its products and to acquire and successfully integrate companies with complementary technologies and product lines. Please see other disclosure documents filed or published by the Nidec Group companies, including the Japanese security report, for additional information regarding such risks and uncertainties. Nidec undertakes no obligation to update the forward-looking statements unless required by law.
[2]
Nidec Announces its Revision of Upward Consolidated Fiscal First-Half and Year-End Financial Forecasts for the Year Ending March 31, 2025 By Investing.com
KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the Company) today announced an upward revision to its IFRS-based consolidated fiscal first-half and year-end financial forecasts for the year ending March 31, 2025, originally announced on April 23, 2024. The details are as follows: 1. Revised consolidated financial forecasts (IFRS) for the six months ending September 30, 2024 2. Revised consolidated financial forecasts (IFRS) for the year ending March 31, 2025 3. Reasons for the revision for the financial forecast Nidec started a new management system on April 1, 2024 and is focusing on improving profitability in each business area. In the small precision motors business, the demand for HDD motors is recovering, and that for water-cooling systems for AI servers is rapidly expanding. In the automotive business, Nidec swiftly shifted its strategy to put first priority on its profitability in fiscal 2023 to respond to the growth slowdown of the Battery EV market and fierce price competition. Nidec will further strengthen cooperation with the joint venture partner to minimize risks, and also focus on component supply with its technical capabilities and cost competitiveness which were cultivated in the fierce market. Nidec recorded a gain on step acquisition as Nidec PSA emotors became its consolidated subsidiary. In the appliance, commercial and industrial products business, Nidec expects rapid demand expansion of power generators which are essential to data centers, and highly growing demand of Battery Energy Storage Systems which are accelerated by expansion of green innovation related demand. Nidec records the foreign exchange gain of 15.0 billion because the Japanese yen against the US dollar and the Euro remains weaker than expected. As a result, the financial results for the three months ended June 30, 2024 exceeded the Company's previous expectations, originally announced on April 23, 2024, and we revised its forecasts for the first-half and year-end for the year ending March 31, 2025. Cautionary Statement Concerning Forward-Looking Information This press release contains forward-looking statements including expectations, estimates, projections, plans, and strategies. Such forward-looking statements are based on management's assumptions and beliefs in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such risks and uncertainties include, but are not limited to, changes in customer circumstances and demand, exchange rate fluctuations, and the Nidec Group's ability to design, develop, mass produce and win acceptance of its products and to acquire and successfully integrate companies with complementary technologies and product lines. Please see other disclosure documents filed or published by the Nidec Group companies, including the Japanese security report, for additional information regarding such risks and uncertainties. Nidec undertakes no obligation to update the forward-looking statements unless required by law.
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Nidec Corporation has announced an upward revision of its consolidated financial forecasts for the fiscal first half and full year ending March 31, 2025. The company cites improved profitability and increased demand in key business segments as reasons for the positive outlook.
Nidec Corporation, a leading Japanese manufacturer of electric motors, has announced a significant upward revision of its consolidated financial forecasts for the fiscal year ending March 31, 2025. This positive adjustment reflects the company's improved profitability and increased demand across various business segments 1.
The company has revised its forecasts for both the fiscal first half and the full year. For the first half of the fiscal year, Nidec now projects:
For the full fiscal year, the revised forecasts are:
Nidec attributes this positive outlook to several key factors:
The company also notes that these forecasts are based on the assumption that the exchange rates for the second quarter and beyond will be 140 yen against the U.S. dollar and 150 yen against the euro 1.
This upward revision in financial forecasts is likely to be well-received by investors and market analysts. It demonstrates Nidec's resilience in the face of global economic challenges and its ability to capitalize on growing markets, particularly in the electric vehicle sector.
While the revised forecasts paint an optimistic picture, Nidec cautions that these projections are based on information currently available to the company and certain assumptions that are deemed reasonable. Actual results may differ materially from these forecasts due to various factors 2.
Reference
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