Nidec Corp Adr (NJDCY) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Now, we would like to start the presentation on NIDEC Corporation's performance for the first quarter of fiscal year 2024. First, please turn off your mobile phones or put them on silent mode. Nidec Corporation's representatives to be presenting today's earnings results are as follows. Mr. Mitsui Kishida, the president and chief executive officer of Nidec Corporation. Mr. Akinobu Samura, senior vice president and chief financial officer of the company. Mr. Teruaki Urago, general manager of the investor relations department. That is all. In today's presentation, Mr. Samura will present an overview of the company's earnings results for the first quarter of first fiscal year 2024. Then Mr. Kishida will present the company's business strategy going forward. Then the floor will be opened for question and answer session. Please kindly wait until then to ask your questions. The meeting is expected to last until 18 o'clock today. Now, Mr. Samura, please start your presentation. Thank you. This is Samura speaking. Thank you very much. I would like to talk to you and explain to you about our performance for the first quarter of this fiscal year. Please turn to slide three. Net sales were up 14.8% to 648.2 billion yen. This is a record high result for us. Operating profit was up 0.1% to 60.3 billion yen. It was a slight increase, but this is also once again a record high operating profit. operating profit ratio was 0.38%. And this operating profit ratio includes the Nidex PSAE motors. It's called NPE for short. This was an equity method affiliated until the end of fiscal 2023, but from April, this company, General Venture, was consolidated, and then the 10.1 billion yen was included as a result of re-measuring the share of the said company. This will be explained in detail late...