Nidec: FY22 Financial Results

Nidec Corp. published its financial results for fiscal year 2022 ended March 31, 2023.

Global net sales stood at a record high of ¥2,242.8 billion, 16.9% higher Y/Y. Profit attributable to owners of the parent decreased 66.9% Y/Y to ¥45.0 billion after income tax expenses of ¥75.0 billion and losses from discontinued operations of ¥2.0 billion.

Representing between 3% and 4% of global revenue, net sales of spindle motors for HDDs – among the several businesses of the company-, decreased 20.6% from ¥98,783 million to ¥78,462 million for FY22 compared to FY21, including a positive effect of the fluctuations of the foreign currency exchange rates by approximately ¥21,000 million, mainly due to a decrease in the number of units sold.

In HDD motors, the company continues to focus on data centers and servers to improve the product mix for higher profitability.