Nidec Q2 Net Profit Down, Operating Profit Rises

(RTTNews) - Nidec Corp. (NJDCY), a Japanese manufacturer of electric motors, reported Wednesday that its second-quarter profit attributable to owners of the parent fell 53.2 percent to 19.49 billion Japanese yen from last year's 41.64 billion yen.

Earnings per share were 16.96 yen, down from 36.24 yen a year ago.

Profit before income taxes also declined 63.4 percent to 21.50 billion yen from prior year's 58.78 billion yen.

However, operating profit for the quarter grew 10 percent to 60.67 billion yen from 55.13 billion yen in the prior year.

Net sales also increased 8.9 percent to 645.65 billion yen from prior year's 593.09 billion yen.

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