Nidec Corp. (NJDCY), the renowned Japanese producer of electric motors, has disclosed a significant decrease in its second-quarter financial results. The company announced on Wednesday that the net profit attributable to shareholders dropped by 53.2% to 19.49 billion Japanese yen, compared to 41.64 billion yen from the same period last year.
The earnings per share reflected this downturn, declining to 16.96 yen from the previous 36.24 yen.
Similarly, the profit before income taxes experienced a major fall, plummeting by 63.4% to 21.50 billion yen, down from 58.78 billion yen recorded last year.
Contrarily, the company's operating profit showed a positive trend, increasing by 10% to reach 60.67 billion yen, up from the previous year's 55.13 billion yen.
Furthermore, Nidec reported an 8.9% rise in net sales, amounting to 645.65 billion yen, as compared to 593.09 billion yen in the prior year.
