Salem Radio Network News Monday, January 24, 2022

Business

Japan’s Nidec posts 10% rise in Q2 operating profit

TOKYO (Reuters) – Precision electric motor maker Nidec Corp on Tuesday posted a 10% rise in second quarter operating profit to 45.6 billion yen compared with a profit of 41.4 billion yen a year ago.

The result for the three months to Sept 30 was worse than an average 46.8 billion yen profit estimated by 5 analysts surveyed by Refinitiv.

The company raised its full year operating profit forecast to 190 billion yen from 180 billion yen. That prediction is lower than an average 192.2 billion yen forecast based on estimates from 20 analysts, Refinitiv data shows.

(Reporting by Tim Kelly; Editing by Shri Navaratnam)

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