Nidec: Fiscal 2Q22 Financial Results

Nidec Corp. announced its financial results for the 3 months and the 6 months ended September 30, 2022.

Global revenue for the six months ended September 30, 2022 was ¥1,130,767, +24.2% Y/Y, with profit before income taxes increasing 35.9% to ¥118,375 million.

Among its several businesses, there are spindles motors for HDDs.

Spindle motors for HDDs

(in ¥ million)	2FQ21	2FQ22	6-month 21	6-month 22
Revenue	20,923	21,843	49,440	42,406
Growth		2.7%		-14.2%

Net sales of these motors decreased 14.2% to ¥42,406 million for this 6-month period compared to the same period of the previous year, mainly due to a decrease in the number of units sold. They represent 3% of total revenue (5.4% the former year) in a declining WW HDD market.

Net sales of these products increased only 2.7% to ¥21,483 million for 2FQ22 compared to 2FQ21 (¥20.9 billion or down 9% Q/Q), despite a positive effect of the fluctuations of the foreign currency exchange rates by approximately ¥1,800 million.

Earnings call transcript