ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

Motor maker Nidec cuts profit outlook by 25% as China slump lingers

Big investments in electric cars weigh on earnings

A Nidec factory in China's Zhejiang Province makes traction motors for electric vehicles, an area where the Japanese company seeks a bigger presence. (Photo courtesy of Nidec)

OSAKA -- Japanese precision motor maker Nidec lowered its full-year net profit forecast by a quarter Wednesday on increased investment in electric-vehicle parts and sluggish Chinese demand.

The company cut its forecast for the year ending next March to 100 billion yen ($921 million), representing a 10% year-on-year drop. It had projected a profit increase to 135 billion yen in July.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more