Nidec: Fiscal 1Q21 Financial Results

-38% Y/Y and -17% Q/Q in revenue for HDD spindle motors

This is a Press Release edited by StorageNewsletter.com on August 18, 2021 at 1:31 pm

(in ¥ million)	1Q20	1Q21	Growth
Revenue	336,876	447.470	*33%*
Net income (loss)	20,387	33,345

Nidec Corp. announced financial results for the quarter ended June 30, 2021.

Among its businesses in motor application products, HDD motors, in which the firm is largely the WW leader with around 85% market share, represent 5.2% of global revenue in 1FQ21 to be compared to 11.1% in 1FQ20.

Small Precision Motor: Quarterly Results
Nidec 1fq21 F1

Net sales of spindle motors for HDDs decreased 37.8% to ¥23,037 million for this most recent 3-month period compared to the same period of the previous year, and down 17% from the previous quarter, mainly due to a decrease in the number of units sold.

The company expects global revenue of ¥2 trillion in FY22 and ¥4 trillion for FY25.

Earnings call transcript

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