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Nidec fiscal Q3 profit climbs 29.0% YOY

Nidec Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥61.61 per share, a gain of 27.0% from ¥48.52 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.39 billion, an increase of 29.0% from ¥14.26 billion in the prior-year period.

The normalized profit margin rose to 7.0% from 6.6% in the year-earlier period.

Total revenue rose 21.7% year over year to ¥264.25 billion from ¥217.09 billion, and total operating expenses rose 21.0% on an annual basis to ¥235.45 billion from ¥194.56 billion.

Reported net income grew 33.8% on an annual basis to ¥21.32 billion, or ¥71.42 per share, from ¥15.94 billion, or ¥54.24 per share.

As of Jan. 22, US$1 was equivalent to ¥117.83.