Nidec reports higher first-half net profit of USD57.1 million despite stable sales

Company raises full financial year 2020/21 financial outlook

Nidec recorded a 79.2% year-over-year (y/y) increase in net profit, to JPY48.8 billion (USD57.1 million), in the first half of financial year (FY) 2020/21 ended 30 September 2020, the Japanese supplier said in a press release on 26 October. The company also recorded 12% y/y growth in operating income, to JPY69.1 billion. Nidec reported strong earnings growth in the first half of FY 2020/21, despite net sales remaining almost stable, at JPY751.8 billion.