Nidec Q2 Profit Climbs; Backs FY Earnings View, Lifts Sales Forecast

(RTTNews) - Nidec Corp. (NJ), a manufacturer of electric motors and related components, reported Wednesday that its second-quarter net income attributable to the company climbed 24.5 percent to 23.827 billion yen from last year's 19.140 billion yen. Earnings per share were 79.84 yen, compared to 65.09 yen last year.

Net sales went up 21.3 percent to 302.311 billion yen from 249.323 billion yen a year ago.

Further, the company announced interim dividend of 40 yen per share, higher than last year's 30 yen per share.

Looking ahead, the company continues to expect attributable net income of 90 billion yen or 302.84 yen per basic share, a growth of 18.4 percent from last year. Net sales are now projected to be 1.15 trillion yen, higher than previous estimate of 1.2 trillion yen.