TOKYO (dpa-AFX) - Japanese manufacturer of electric motors Nidec Corp. (NJDCY.PK) reported Thursday that its fourth-quarter profit attributable to owners of the parent surged 320 percent to 38.34 billion Japanese yen from 9.13 billion yen in the prior year. On a per share basis, net income was 65.46 yen up from 15.55 yen in the previous year.
Operating profit for the quarter grew 190 percent to 44.48 billion yen from 15.35 billion yen in the prior year.
Quarterly net sales increased 15.4 percent to 433.07 billion yen from 375.19 billion yen last year.
Fiscal 2021 profit attributable to owners of the parent increased 108.7 percent to 122.0 billion yen. Net sales grew 5.4 percent to 1.62 trillion yen.
Looking ahead for the first half, the company expects profit attributable to owners of the parent to be 60 billion yen or 102.44 yen per basic share, operating profit of 80 billion yen, and net sales of 800 billion yen. The outlook reflects a growth of 23 percent in attributable profit, 15.6 percent in operating profit and 6.4 percent in net sales.
Further, for the year ending March 31, 2022, the company expects profit attributable to owners of the parent of 140 billion yen or 239.02 yen per basic share, operating profit of 180 billion yen, and net sales of 1.70 trillion yen.
The outlook reflects a growth of 14.8 percent in attributable profit, 12.5 percent in operating profit and 5.1 percent in net sales.
In Japan, Nidec shares were trading at 13,970 yen, up 4.5 percent.
Copyright RTT News/dpa-AFX