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Nidec fiscal Q3 profit climbs 38.7% YOY

Nidec Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥86.42 per share, an increase of 39.4% from ¥61.97 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.63 billion, an increase of 38.7% from ¥18.48 billion in the year-earlier period.

The normalized profit margin increased to 8.4% from 6.0% in the year-earlier period.

Total revenue fell on an annual basis to ¥304.20 billion from ¥308.00 billion, and total operating expenses decreased on an annual basis to ¥267.00 billion from ¥277.32 billion.

Reported net income increased 39.1% on an annual basis to ¥31.53 billion, or ¥106.30 per share, from ¥22.67 billion, or ¥76.04 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.