TSE: 6594 OTC US: NJDCY https://www.nidec.com/en/
Nidec Corporation
First Quarter Fiscal 2021 Results
Three Months Ended June 30, 2021
July 21, 2021
Disclaimer Regarding Forward-looking Statements
These presentation materials and the related discussions contain forward-looking statements including expectations, estimates, projections, plans and strategies. Such forward-looking statements are based on management's targets, assumptions and beliefs in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such risks and uncertainties include, but are not limited to, changes in customer circumstances and demand, exchange rate fluctuations, and the Nidec Group's ability to design, develop, mass produce and win acceptance of its products and to acquire and successfully integrate companies with complementary technologies and product lines. Please see other disclosure documents filed or published by the Nidec Group companies, including the Japanese securities report, for additional information regarding such risks and uncertainties. Nidec undertakes no obligation to update the forward-looking statements unless required by law.
The first slide features Nidec's Traction Motor System, E-Axle 100kW Model adopted in GAC Aion's new EV, Aion Y.
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Consolidated Profit/Loss | This slide includes forward-looking statements. See Disclaimer on Page 2. | |||||
Millions of Yen, except | FY2021 | |||||
for percentages, EPS, | Q1/FY2020 | Q1/FY2021 | Change | |||
Forecast | ||||||
and FX rates | ||||||
Net sales | 336,876 | 447,470 | +32.8% | 1,700,000 | ||
Operating profit | 27,793 | 44,555 | +60.3% | 180,000 | ||
Operating profit ratio | 8.3% | 10.0% | - | 10.6% | ||
Profit before | 27,410 | 43,752 | +59.6% | 175,000 | ||
income taxes | ||||||
Profit attributable to | 20,058 | 33,451 | +66.8% | 140,000 | ||
owners of the parent | ||||||
EPS (Yen) | 34.24 | 57.14 | +66.9% | 239.02 | ||
FX rate (Yen/US$) | Assumed for Q2 onward: | |||||
Average: | 107.62 | 109.49 | +1.7% | Yen/US$: 105 | ||
Term end: | 107.74 | 110.58 | +2.6% | Yen/Euro: 117 | ||
Note: Based on the current forecast of sales volume, every one yen appreciation or depreciation against the U.S. dollar and the euro for FY2021 is estimated to have | |
an annualized impact of 10.0 billion yen and 1.9 billion yen on net sales, respectively, and 1.1 billion yen and 0.4 billion yen on operating profit, respectively. | 3 |
Summary of Q1 FY2021
- Net sales stood at a record high of ¥447.5 billion, 32.8% higher Y/Y. Operating profit significantly increased 60.3% Y/Y to ¥44.6 billion.
- Q1 quarterly operating profit ratio was 10.0% due to enhanced profitability through WPR4 program implemented since FY20, and sales recovery. Double-digitoperating profit ratio was successfully maintained for four consecutive quarters.
- Profit attributable to owners of the parent increased 66.8% Y/Y to ¥33.5 billion.
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Year-on-YearChanges (Three Months Ended June 30, 2021)
(Billions of Yen)
+56.1 | +7.5 | +1.7 | |||||||||||||||||
+17.0 | +35.8 | ||||||||||||||||||
447.5 | |||||||||||||||||||
-7.5 | |||||||||||||||||||
336.9 | |||||||||||||||||||
Q1/FY20 | Exchange | Small Precision | Automotive | Appliance, | Machinery | Electronic | Q1/FY21 | ||||||||||||
Rate | Motors | Products | Commercial | and Optical | |||||||||||||||
and Industrial | Components | ||||||||||||||||||
Products | and Others | ||||||||||||||||||
(Billions of Yen) | +9.8 | +2.8 | +0.4 | ||||||||||||||||
-0.3 | |||||||||||||||||||
+1.0 | +1.7 | +4.7 | 44.6 | ||||||||||||||||
-3.3 | |||||||||||||||||||
27.8 | |||||||||||||||||||
Q1/FY20 | Exchange | Structural | Small Precision | Automotive | Appliance, | Machinery | Electronic | Eliminations/ | Q1/FY21 | ||||||||||
Rate | Reform | Motors | Products | Commercial | and Optical | Corporate | |||||||||||||
Expenses | and Industrial | Components | 5 | ||||||||||||||||
Products | and Others |
Quarter-on-QuarterChanges (Three Months Ended June 30, 2021)
(Billions of Yen)
+12.8 | +8.3 | +4.8 | +0.9 |
-5.5 | -6.9 |
433.1
447.5
Q4/FY20 | Exchange | Small Precision | Automotive | Appliance, | Machinery | Electronic | Q1/FY21 | ||||||
Rate | Motors | Products | Commercial | and Optical | |||||||||
and Industrial | Components | ||||||||||||
Products | and Others | ||||||||||||
+2.0 | |||||||||||||
(Billions of Yen) | +1.5 | ||||||||||||
+0.5 | +0.4 | ||||||||||||
+2.0 | |||||||||||||
-4.6 | +1.4 | ||||||||||||
44.5 | -3.0 | 44.6 | |||||||||||
Q4/FY20 | Exchange | Structural | Small Precision | Automotive | Appliance, | Machinery | Electronic | Eliminations/ | Q1/FY21 | ||||
Rate | Reform | Motors | Products | Commercial | and Optical | Corporate | |||||||
Expenses | and Industrial | Components | 6 | ||||||||||
Products | and Others |
Small Precision Motor: Quarterly Results
Implementing business portfolio transformation amid HDD motor market structural change
83 | which will lead mid-term growth> | ||||||||||||
78 | 78 | HDD shipments (TAM*, Million units) | |||||||||||
68 | 67 | (Operating | |||||||||||
64 | 63 | 64 | profit ratio: %) | ||||||||||
59 | Mobility | Mini EV | |||||||||||
(Sales: | |||||||||||||
Motors for | (Output: Under roughly 30kW ) | ||||||||||||
Millions of Yen) | Sales of Other Small Motors (LHS) | ・E-bicycle | ・ Traction motors for Mini EV | ||||||||||
Sales of HDD Motors (LHS) | ・E-scooter | ||||||||||||
Operating profit ratio of Small Precision Motors (RHS) | ・Electric motorcycle, etc. | ||||||||||||
150,000 | 13.7% | 15.8% | 15.6% | 15.2% | 12.1% | 20.0% | |||||||
13.0% | |||||||||||||
13.5% | |||||||||||||
10.0% | E-bicycle | E-scooter | Mini EV | ||||||||||
9.7% | |||||||||||||
5.1% | |||||||||||||
100,000 | 0.0% | 5G/Smart phone | E-commerce/Robot | ||||||||||
72,198 | 75,551 | 71,881 | 84,279 | ・Thermal solutions | ・Drone | ||||||||
69,998 | 67,375 | ||||||||||||
49,301 | 76,034 | ・Image stabilization | |||||||||||
78,269 | ・Autonomous delivery | ||||||||||||
・Base station | |||||||||||||
50,000 | robot | ||||||||||||
47,163 | Thermal management | ||||||||||||
38,008 | 39,606 | 39,571 | 40,055 | 37,043 | 32,211 | module | |||||||
27,612 | 23,037 | ||||||||||||
0 | Image stabilization | Drone | |||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | 5G antenna/base station | ||||
FY2019 | FY2020 | FY2021 | *TAM: Total Addressable Market | 7 |
Automotive: Quarterly Results
Automotive existing business kept double-digit operating profit ratio
for four consecutive quarters after bottoming out in Q1 FY20
(Sales: Millions of Yen) | * | (Operating profit: | * | |
Auto | Auto (Existing business) | Millions of Yen) | (Operating profit ratio: %) |
120,000 | 92,338 | 106,873 102,067 | 97,747 | |||||||||
100,000 | 92,189 | 90,220 | ||||||||||
80,000 | 75,488 | 75,344 | ||||||||||
60,000 | 56,797 | |||||||||||
40,000 | ||||||||||||
20,000 | ||||||||||||
0 | ||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | ||||
FY2019 | FY2020 | FY2021 |
Operating profit (LHS) | Operating profit (LHS) | |||||||
Operating profit ratio (RHS) | Operating profit ratio (RHS) | |||||||
12,000 | 13.5% | 12.6% | 16% | |||||
11.6% | 12.4% | 12.2% 11.6% | ||||||
10.5% | ||||||||
9,000 | 12% | |||||||
8.4% | 7.0% | |||||||
6,000 | 8% | |||||||
9.0% | ||||||||
9.0% | ||||||||
3,000 | 7.2% | 7.3% | 4% | |||||
5.0% | ||||||||
4.7% | 3.6% | -0.5% | 5.0% | |||||
0 | 0% | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
FY2019 | FY2020 | FY2021 |
*Existing business: Excluding impact of traction motor related business and Nidec Mobility's business from Auto business | 8 |
Automotive: Sales of Vehicles with Nidec's E-Axle
The cumulative number of vehicles using our E-Axle (traction motor system) reached 161K units
E-Axle> | New! | ||||||||
(Source: MarkLines) | |||||||||
(Geely Automobile) | |||||||||
(Units) | Aion S | Aion LX | Aion V | Aion Y | iA5 | HYCAN007 | Geometry A | Geometry C | EA6 |
12,000
10,000
8,000
6,000
4,000
2,000
0
Apr May June July Aug Sep Oct Nov Dec Jan | Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan | Feb Mar Apr May June |
FY19 | FY20 | FY21 |
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Appliance, Commercial & Industrial: Quarterly Results | ||||||||||||||||||||||||
Operating profit ratio steadily improved after bottoming out in Q4 FY19 | ||||||||||||||||||||||||
Record | ||||||||||||||||||||||||
high | ||||||||||||||||||||||||
quarterly | ||||||||||||||||||||||||
(included in the | ||||||||||||||||||||||||
operating | ||||||||||||||||||||||||
and Industrial Products> | Appliance, Commercial | |||||||||||||||||||||||
profit | ||||||||||||||||||||||||
Record high | and Industrial Products)> | |||||||||||||||||||||||
Appliance, Commercial and Industrial Products | ||||||||||||||||||||||||
quarterly | (Operating profit ratio: %) | |||||||||||||||||||||||
(Sales: Millions of Yen) | Overseas subsidiaries | net sales | Operating profit (LHS) | Operating profit (LHS) | ||||||||||||||||||||
(included in the Appliance, Commercial and Industrial Products) | (Operating profit: | |||||||||||||||||||||||
Operating profit ratio (RHS) | Operating profit ratio (RHS) | |||||||||||||||||||||||
186,432 | Millions of Yen) | |||||||||||||||||||||||
200,000 | 172,312 | 20,000 | 16% | |||||||||||||||||||||
147,571 | 147,000 | 145,024 | 148,238 | 155,965 | 9.8% | 10.5% | ||||||||||||||||||
150,000 | 15,000 | |||||||||||||||||||||||
125,096 | 9.1% | 12% | ||||||||||||||||||||||
123,009 | 8.8% | 9.9% | ||||||||||||||||||||||
7.1% | 6.7% | 7.2% | ||||||||||||||||||||||
10,000 | 8.0% | 8.2% | 8.9% | 8% | ||||||||||||||||||||
100,000 | 5.8% | |||||||||||||||||||||||
4.7% | 5.9% | |||||||||||||||||||||||
5.3% | 5.4% | |||||||||||||||||||||||
50,000 | 5,000 | 4.4% | 4.0% | 4% | ||||||||||||||||||||
0 | 0% | |||||||||||||||||||||||
0 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | FY19 | FY20 | FY21 | |||||||||||||
FY19 | FY20 | FY21 | ||||||||||||||||||||||
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Nidec Corporation published this content on 21 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2021 07:24:42 UTC.