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Strong Chinese sales lift motor maker Nidec's profit 15%

Ex-Nissan executive to oversee development of drives for electric vehicles

Nidec is pouring money into developing motors for electric vehicles. (Photo by Shihoko Nakaoka)

KYOTO -- Nidec's operating profit rose 15% on the year in the October-December quarter, the Japanese motor maker said Thursday, marking the first gain in five quarters thanks to growing sales of high value-added products such as energy-saving motors to China.

Because of increased investment to start production of electric-vehicle motors, however, the Kyoto-based company downgraded its earnings forecast for the year ending this March.

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