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.
Electronics
Japan's Nidec projects record profit on EV parts recovery
Motor maker cut losses by reducing focus on competitive Chinese market
Nidec expects earnings to rise on U.S. infrastructure-related demand. (Photo by Kosaku Mimura)
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