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Nidec fiscal Q3 profit climbs YOY

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Nidec fiscal Q3 profit climbs YOY

Nidec Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥63.52 per share, an increase from ¥61.66 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.94 billion, an increase from ¥18.39 billion in the year-earlier period.

The normalized profit margin dropped to 6.0% from 7.0% in the year-earlier period.

Total revenue rose 16.6% year over year to ¥308.00 billion from ¥264.25 billion, and total operating expenses climbed 17.2% on an annual basis to ¥275.84 billion from ¥235.45 billion.

Reported net income increased 9.5% on an annual basis to ¥23.32 billion, or ¥78.22 per share, from ¥21.30 billion, or ¥71.42 per share.

As of Jan. 21, US$1 was equivalent to ¥117.22.