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Japan's Nidec logs record Q2 earnings amid management turmoil

Kyoto-based motor maker pushes EV strategy, denies insider trading allegations

Nidec Chairman and CEO Shigenobu Nagamori speaks during an online press conference on Oct. 24. (Screenshot from Nidec's website) 

TOKYO -- Japan's Nidec on Monday reported record quarterly earnings for July-September in a dose of welcome good news for the world's largest motor maker following three quarters of weak performance and the high-profile departure of a top executive.

Second quarter operating profit grew 16% from a year before to 51.7 billion yen ($346 million) as sales jumped 27.5% to 590 billion yen. Net profit leaped 36.7% to 45.3 billion yen.

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