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Nidec eyes return to record profits on electric-car rebound

Chinese slowdown contributed to motor maker's first profit drop in six years

Nidec's electric motors are being used in mass-produced electric cars in China. (Photo courtesy of Nidec)

OSAKA -- Japan's electric motor manufacturer Nidec expects revenue and profit to reach all-time highs this fiscal year on improving demand for electric-vehicle motors, particularly in China, following its first profit decline in six years.

Nidec, the world's top electric motor and equipment maker, said Tuesday it expects a 9% increase in revenue to 1.65 trillion yen ($14.7 billion) and a 22% rise in net profit to 135 billion yen for the fiscal year ending March 2020. While profits are projected to continue falling in the six months through September, Nidec expects recovering sales in China and elsewhere to more than make up the difference in the second half.

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