KYOTO -- Nidec plans to spend more than 100 billion yen ($827 million) over the next few years to increase production of vibration motors, a smartphone component being positioned as a key part of the company's efforts to raise sales to 2 trillion yen by fiscal 2020.
Business is booming for the Japanese motor maker. Net profit for the April-September period jumped 30% year over year to 47.6 billion yen -- a first-half record -- while sales climbed 20% to 587.3 billion yen. Quarterly sales topped 300 billion yen for the first time in the July-September period, reaching 302.3 billion yen. Brisk sales of efficient micromotors for home appliances and automotive motors played a major role, while mainstay precision micromotors also fared well.