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Machinery & Industrial Equipment

Motor maker Nidec still bearish on China after 39% profit drop

Company focuses on building up EV segment while cutting costs

China is both a major production base and market for Nidec's motors. (Photo courtesy of the company)

OSAKA -- Apple supplier Nidec continues to suffer from falling demand for industrial and smartphone components, delivering a bleak assessment that the business environment in China has not improved.

The precision motor maker's operating profit tumbled 39% on the year to 27.9 billion yen ($258 million) during the three months ended in June for a third straight quarter of declines, the Kyoto-based company said Wednesday. Sales for the fiscal first quarter slipped 3% to 360.8 billion yen.

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