Nidec posts lower quarterly profit as costs rise


FILE PHOTO Nidec Corps logo is pictured at an earnings results news conference in Tokyo Japan July 25 2018. REUTERSKim Kyung-Hoon

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.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In