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Nidec fiscal Q4 profit climbs 24.3% YOY

Nidec Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥54.53 per share, a gain of 21.5% from ¥44.88 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.40 billion, an increase of 24.3% from ¥13.20 billion in the prior-year period.

The normalized profit margin climbed to 5.8% from 5.8% in the year-earlier period.

Total revenue increased 20.2% on an annual basis to ¥274.62 billion from ¥228.38 billion, and total operating expenses grew 18.6% from the prior-year period to ¥243.57 billion from ¥205.39 billion.

Reported net income increased 37.6% year over year to ¥18.17 billion, or ¥60.41 per share, from ¥13.21 billion, or ¥44.89 per share.

For the year, the company's normalized net income totaled ¥220.32 per share, compared to EPS of ¥172.52 in the prior year.

Normalized net income was ¥65.36 billion, an increase from ¥50.11 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥1.028 trillion from ¥875.11 billion, and total operating expenses rose year over year to ¥916.61 billion from ¥790.25 billion.

The company said reported net income increased on an annual basis to ¥76.16 billion, or ¥256.73 per share, in the full year, from ¥56.21 billion, or ¥193.50 per share.

As of June 25, US$1 was equivalent to ¥123.71.