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190724 nidec eng ... Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY08 FY09 FY10 FY11 FY12

Oct 09, 2020

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  • TSE: 6594 OTC US: NJDCY

    https:// www.nidec.com/en-Global/

    Nidec Corporation First Quarter Fiscal 2019 Results

    Three Months Ended June 30, 2019

    July 24, 2019 Ni150F Series Ni100F Series Ni70F Series

    These presentation materials and the related discussions contain forward-looking statements

    including expectations, estimates, projections, plans and strategies. Such forward-looking

    statements are based on management’s targets, 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 securities report, for additional information regarding such risks

    and uncertainties. Nidec undertakes no obligation to update the forward-looking statements unless

    required by law.

    2

    Disclaimer Regarding Forward-looking Statements

    The first slide features the lineups of the traction motor system named E-Axle which packs a gearbox, inverter and motor into a smaller footprint enclosure. In

    addition to 150kW model mass-produced since April 2019, the Company has developed 100kW and 70kW models. Without compromising competitive

    advantages, E-Axle is now available for all vehicle types in the global market.

  • Millions of Yen, except

    for percentages, EPS,

    and FX rates

    Q1/FY2018 Q1/FY2019 Change FY2019

    Forecast

    Net sales 372,223 360,874 -3.0% 1,650,000

    Operating profit 45,693 27,959 -38.8% 175,000

    Operating profit ratio 12.3% 7.7% - 10.6%

    Profit before

    income taxes 45,888 31,262 -31.9% 170,000

    Profit attributable to

    owners of the parent 37,287 3,476 -90.7% 135,000

    EPS (Yen) 126.06 11.81 -90.6% 458.73

    FX rate (Yen/US$)

    Average:

    Term end:

    109.07

    110.54

    109.90

    107.79

    +0.8%

    -2.5%

    Assumed for Q2 onward:

    Yen/US$: 105

    Yen/Euro: 125

    3

    Consolidated Profit/Loss

    Note: Based on the current forecast of sales volume, every one yen appreciation or depreciation against the U.S. dollar and the euro for FY2019 is estimated to have

    an annualized impact of 9.0 billion yen and 1.7 billion yen on net sales, respectively, and 1.1 billion yen and 0.4 billion yen on operating profit, respectively.

    This slide includes forward-looking statements. See Disclaimer on Page 2.

    *Please refer to Notes on Page 17.

    Summary of Q1 FY2019

    4

    Net sales decreased by 3% Y/Y. Forecast for 1H and full-

    year remains unchanged.

    Operating profit decreased by 39% Y/Y. Forecast for 1H

    and full-year remains unchanged.

    Profit attributable to owners of the parent decreased 91%

    Y/Y due to loss on the transfer of Secop’s refrigeration

    business worth ¥19.8 billion. Forecast revised downward

    for 1H, but remains unchanged for full-year FY2019.

    *Please refer to Notes on Page 17.

  • 372.2

    -4.2

    +2.6

    -3.5

    45.7

    -4.8 -1.0

    -1.6

    +0.2

    +0.2

    -1.0

    5

    -4.2 -2.2

    360.9

    28.0

    -3.8 -3.0

    -2.7 FY18(Q1) -1.5

    FY19(Q1) -2.5

    Difference -1.0

    Year-on-Year Changes (Three Months Ended June 30, 2019)

    (Billions of Yen)

    (Billions of Yen)

    Q1/FY18 Exchange

    Rate

    Appliance,

    Commercial

    and Industrial

    Products

    Automotive

    Products

    Small Precision

    Motors Machinery Electronic

    and Optical

    Components

    and Others

    Q1/FY19

    Q1/FY18 Exchange

    Rate

    Structural

    Reform

    Expenses

    Q1/FY19Small Precision

    Motors

    Appliance,

    Commercial

    and Industrial

    Products

    Automotive

    Products

    Machinery Electronic

    and Optical

    Components

    and Others

    Eliminations/

    Corporate

    *Please refer to Notes on Page 17.

    353.0 360.9

    -2.1

    +10.4

    -0.8 -1.2

    5.7

    -0.4

    -0.4

    +2.5

    28.0

    -1.6

    6

    -1.0

    +20.7 +2.1 +0.6

    +0.3 +0.9

    FY18(Q4) -23.2

    FY19(Q1) -2.5

    Difference +20.7

    Quarter-on-Quarter Changes (Three Months Ended June 30, 2019)

    (Billions of Yen)

    (Billions of Yen)

    Appliance,

    Commercial

    and Industrial

    Products

    Automotive

    Products

    Exchange

    Rate

    Small Precision

    Motors

    Machinery Electronic

    and Optical

    Components

    and Others

    Q4/FY18 Q1/FY19

    Q4/FY18 Exchange

    Rate

    Structural

    Reform

    Expenses

    Q1/FY19Appliance,

    Commercial

    and Industrial

    Products

    Automotive

    Products Small Precision

    Motors Machinery

    Electronic

    and Optical

    Components

    and Others

    Eliminations/

    Corporate

    * *0.5 bil. yen previously allocated for Secop

    business is subtracted from 23.7 bil. yen

    announced in Q4/FY18.

    *Please refer to Notes on Page 17.

  • (10)

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    (100)

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    Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

    FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

    Net Sales (LHS) Operating Profit (RHS)

    7

    Consolidated Quarterly Net Sales and Operating Profit

    (Net Sales in

    Billions of Yen)

    (Operating Profit in

    Billions of Yen)

    WPR1 WPR2

    Lehman Crisis

    Earthquake

    Disaster

    Thai

    Floods

    WPR3

    -25.4

    Continuing WPR3 cost restructuring and preparing for demand recovery

    Structural Reform

    8

    Mid-Term Strategic Goal

    Vision2020 This section includes forward-looking statements. See Disclaimer on page 2 of this presentation.

  • Continuous pursuit of profit & strong growth

    Vision2020: Mid-Term Strategic Goal

    1. Target for consolidated net sales: 2 trillion yen

    (including sales attributable to new M&A

    of approx. 500 billion yen)

    2. Sales target for Automotive: 700 billion to 1 trillion yen

    3. Target for consolidated operating profit ratio: 15%

    4. Target for ROE: 18%

    (assuming shareholders’ equity ratio of 60%)

    5. Five regional HQ management units

    9This slide includes forward-looking statements. See Disclaimer on Page 2.

    10

    500

    400

    300

    200

    100

    0

    500

    400

    300

    200

    100

    0

    FY19 FY20 FY21FY19 FY20 FY21

    Ordered volume for FY20 to 21 doubled in the past three months Preparing for future order increase

    Nidec Tosok (Zhejiang) Corporation

    600,000 units/year

    100

    200 210

    Nidec Automotive Motor (Zhejiang) Corporation

    400,000 units/year

    Nidec (Dalian)

    Limited

    In operation

    100

    300

    500

    Automotive: Quickened Pace of Traction Motor Order Intake

    Launch of Second and Third Factories under Planning

    (Thousands of Units) (Thousands of Units)

    1 million units/year

    This slide includes forward-looking statements. See Disclaimer on Page 2.

  • 11

    Automotive: Full-Scale Mass-Production in Traction Motor Factory (1)

    Bird’s-eye view

    photo

    Fully-automatic assembling line (100m)

    Casting process

    (in-house production of main parts)

    Final process

    World’s largest-level traction motor factory got off the ground (four-story, 66,000 square meters)

    12

    -In-house production of main parts

    -Vertically integrated factory for high quality, low cost manufacturing and supply stability

    Aluminum die casting

    Resin moldingPrecision machining

    Housing and core pressing

    Automotive: Full-Scale Mass-Production in Traction Motor Factory (2)

  • 13

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    100

    FY19 FY20 FY22 FY25

    Increasing order entry of high- to low- end products in the global market

    Automotive: ADAS* Business in Rapid Expansion

    (Billions of Yen)

    (Forecast) (Forecast) (Target) (Target)

    ISF Gen2 77G MRR 77G SRR 79G SRR

    Surging orders and inquiries from Japanese,

    European, American & Chinese OEMs for

    passenger and commercial vehicles

    ADAS-ECU New radar antenna

    New radar antenna

    This sli

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