Japan’s Nidec posts 10% rise in Q2 operating profit
© Reuters. 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) – Precision electric motor maker Nidec Corp on Tuesday posted a 10% rise in second quarter operating profit to 45.6 billion yen compared with a profit of 41.4 billion yen a year ago.
The result for the three months to Sept 30 was worse than an average 46.8 billion yen profit estimated by 5 analysts surveyed by Refinitiv.
The company raised its full year operating profit forecast to 190 billion yen from 180 billion yen. That prediction is lower than an average 192.2 billion yen forecast based on estimates from 20 analysts, Refinitiv data shows.
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