TSE: 6594 OTC US: NJDCY https://www.nidec.com/en/ Nidec Corporation Fiscal First-Half 2021 Financial Results Six Months Ended September 30, 2021 <IFRS> October 26, 2021 The first slide features Nidec’s Traction Motor System, E-Axle (200kW) adopted in the first model of Geely Automobile Group’s Premium EV Brand, Zeekr. 2 Disclaimer Regarding Forward-looking Statements 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.
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TSE: 6594 OTC US: NJDCY
https://www.nidec.com/en/
Nidec Corporation
Fiscal First-Half 2021 Financial Results
Six Months Ended September 30, 2021
<IFRS>
October 26, 2021
The first slide features Nidec’s Traction Motor System, E-Axle (200kW) adopted in the first model of Geely Automobile Group’s Premium EV Brand, Zeekr.
2
Disclaimer Regarding Forward-looking Statements
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.
Millions of Yen, except
for percentages, EPS,
dividends and FX rates
1H/FY2020 1H/FY2021 ChangeFY2021
Forecast
Net sales 751,794 910,668 +21.1% 1,800,000
Operating profit 69,174 90,196 +30.4% 190,000
Operating profit ratio 9.2% 9.9% - 10.6%
Profit before
income taxes65,999 88,155 +33.6% 185,000
Profit attributable to
owners of the parent 48,778 67,610 +38.6% 148,000
EPS (Yen) 83.28 115.49 +38.7% 252.68
Dividends (Yen) 30.00 30.00 - 60.00
FX rate (Yen/US$)
Average:
Term end:
106.92
105.80
109.80
111.92
+2.7%
+5.8%
Assumed for Q3 onward:
Yen/US$: 105
Yen/Euro: 117
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 FY2021 is estimated to have
an annualized impact of 10.0 billion yen and 1.9 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.
4
Summary of Q2 FY2021
First half net sales stood at a record high of ¥910.7 billion, 21.1%
higher Y/Y. Operating profit increased 30.4% Y/Y to ¥90.2 billion.
Quarterly operating profit ratio of Appliance, Commercial and
Industrial Products has improved steadily. 1H/FY21 operating
profit ratio of the product category reached 10.7%.
Profit attributable to owners of the parent increased 38.6% Y/Y to
¥67.6 billion.
Upward revision to full-year FY2021 financial forecasts.
5
Year-on-Year Changes (Six Months Ended September 30, 2021)
(Billions of Yen)
<Net Sales>
(Billions of Yen)
<Operating Profit>
1H/FY20 Exchange
Rate
Appliance,
Commercial
and Industrial
Products
Automotive
Products
Small Precision
MotorsMachinery Electronic
and Optical
Components
and Others
1H/FY21
1H/FY20 Exchange
Rate
Structural
Reform
Expenses
1H/FY21Small Precision
Motors
Automotive
Products
Machinery Eliminations/
Corporate
Appliance,
Commercial
and Industrial
Products
Electronic
and Optical
Components
and Others
751.8
-28.6
+92.4
+39.4
+17.8 +2.3
910.7
+35.6
69.2
+16.3
+0.3
-15.6
+2.9
+5.4
90.2
+4.0
-0.7
+8.4
447.5463.2
+0.6+4.5
+6.0 +0.3+2.1 +2.1
6
Quarter-on-Quarter Changes (Three Months Ended September 30, 2021)
(Billions of Yen)
<Net Sales>
(Billions of Yen)
<Operating Profit>
Appliance,
Commercial
and Industrial
Products
Automotive
Products
Exchange
Rate
Small Precision
Motors
MachineryElectronic
and Optical
Components
and Others
Q1/FY21 Q2/FY21
Q1/FY21 Exchange
RateStructural
Reform
Expenses
Q2/FY21Appliance,
Commercial
and Industrial
Products
Automotive
ProductsSmall Precision
MotorsMachinery Eliminations/
Corporate
Electronic
and Optical
Components
and Others
45.644.6
+0.5
-1.4
+0.5
+1.1
-2.5
+3.3
-0.1 -0.4
88.9
120.0
96.8 95.0
67.3
85.0
44.7 50.3
37.7
0
100
200
FY20 FY21 FY202 FY212 FY204 FY213FY20
7
CAPEX, Depreciation, R&D
CAPEX Depreciation R&D
(Billions of Yen)
Continuing
aggressive
investments that
support mid-term
growth
(Full-Year Forecast)
(Full-Year Forecast)
(Full-Year Forecast)
(1H Actual) (1H Actual)
(1H Actual)
FY21 FY21 FY21FY20 FY20
Downward revision
from 130.0, initial
forecast
This slide includes forward-looking statements. See Disclaimer on Page 2.
<Consolidated Net Sales and Operating Profit>(Billions of Yen)
<Profit Before Income Taxes and Profit Attributable to Owners of the Parent>
(Billions of Yen)
<Dividends and EPS>(Yen/share)
*
*Adjusted based on the 2-for-1 split implemented as of April 1, 2020. “EPS” and “Dividends” are expressed assuming that the stock split occurred at the beginning of FY2019.
<Consolidated Cash Flow>(Billions of Yen)
31
104.4
119.0 116.5103.6 101.3 103.8
14.3
18.8 18.1 15.7
12.3 10.8
Q1/FY20 Q2 Q3 Q4 Q1/FY21 Q2
Sales Operating profit
35.738.9 36.9
39.1
44.7
50.7
6.2 6.17.3
6.7
8.6
11.9
Q1/FY20 Q2 Q3 Q4 Q1/FY21 Q2
Sales Operating profit
125.1148.2 156.0
172.3186.4
191.6
9.0
13.114.2
16.8
19.620.9
Q1/FY20 Q2 Q3 Q4 Q1/FY21 Q2
Sales Operating profit
56.8
92.3 106.9 102.1
97.7 99.5
-0.3
4.7
7.7 7.5
4.9
3.4
Q1/FY20 Q2 Q3 Q4 Q1/FY21 Q2
Sales Operating profit
Product Group Overview
<Small Precision Motors>(Billions of Yen)
<Automotive Products>
(Billions of Yen)
<Appliance, Commercial and Industrial Products>(Billions of Yen)