KYOTO, Japan -- Japanese motor maker Nidec forecasts consolidated net profit to rise 32% to a record 165 billion yen ($1.06 billion) for the year ending March 2025, the company announced Tuesday, as it scales down EV parts operations in China and taps increased demand for industrial motors in the U.S.
Sales are projected to climb 2% to 2.4 trillion yen, with operating profit increasing 41% to 230 billion yen, coming in below the average QUICK Consensus market forecast. On Japan's Private Trading System, Nidec shares dipped 3% at one point from Tuesday's closing price on the Tokyo Stock Exchange.
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