Nidec posts lower quarterly profit as costs rise

FILE PHOTO: Nidec Corp's logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Nidec Corp, a Japanese maker of electric motors, on Wednesday said third-quarter operating profit dipped as rising material prices and a shortage of semiconductors pushed up costs.

The company posted an operating profit of 44.3 billion yen ($388.90 million) for the three months to Dec. 31, down from 46.4 billion a year earlier. The result fell short of an average 49.9 billion yen profit estimated by five analysts surveyed by Refinitiv.