TOKYO :Japanese electric motor maker Nidec posted a 35 per cent rise in first-quarter operating profit on Thursday, helped by a recovery in global automobile production volumes, and maintained its full-year forecast.The results come after the Kyoto-based manufacturer, which is betting big on components for el
TOKYO :Japanese electric motor maker Nidec posted a 35 per cent rise in first-quarter operating profit on Thursday, helped by a recovery in global automobile production volumes, and maintained its full-year forecast.
Operating profit totalled 60.2 billion yen , compared with 44.7 billion yen a year earlier. That was higher than a 43.17 billion yen average profit in a survey of eight analysts by Refinitiv. The result was helped by the weak yen boosting the value of overseas sales, higher demand for industrial and infrastructure-related services and lower fixed costs from a restructuring the previous financial year.
It has invested heavily in production and development of its e-axle traction motor, which combines an EV's gear, motor and power-control electronics, seeing opportunities for rapid growth in China and parts of Europe.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan visitors top 2 million in June for first time since pandemicTOKYO: Tokyo sushi stalwart Kyubey is among Japanese retail businesses riding a tourism boom, fuelled by the weak yen and fostering an increase in consumer prices and hopes for a boost to the broader e
Read more »
Japan visitors top 2 million in June for first time since Covid-19The slide in the Japanese yen has made holidays to the country the cheapest in decades. Read more at straitstimes.com.
Read more »
Japan and UAE to work together on innovation, climate changeThe partnership includes a new scheme to accelerate energy security and promote green technology. Read more at straitstimes.com.
Read more »
Consolidation to boost value of Japan's still fragmented drugstore sector - OrbisTOKYO : The prospect of more consolidation among Japan's fragmented drugstore industry is likely to boost the longer term value of major players, the Japan chief of Orbis Investment Management said.The comments from Orbis' Tsukasa Tokikuni show how the $63 billion industry has become increasingly attracti
Read more »
Japan chipmaker Rohm to invest $722 million in Toshiba buyout fundTOKYO :Japanese chipmaker Rohm said on Tuesday it will invest 100 billion yen ($722 million) in a fund backed by Japan Industrial Partners (JIP), which is launching a tender offer for Toshiba Corp.Rohm also plans to underwrite 200 billion yen of non-voting preferred stock issued by TBJ Holdings, which will be
Read more »
Singapore passport replaces Japan’s as world’s most powerfulSingapore has replaced Japan as the country with the world’s most powerful passport, according to the latest ranking published by Henley Passport Index on Tuesday. It allows visa-free entry to 192 out of 227 global destinations. In October 2021,
Read more »