Salem Radio Network News Monday, May 16, 2022

Science

Nidec posts 4.5% dip in third quarter profit

TOKYO (Reuters) – A Japanese maker of electric motors, Nidec Corp, posted on Wednesday a third-quarter operating profit of 44.3 billion yen, down from a corresponding figure of 46.4 billion a year ago.

The result for the three months to Sept 30 fell short of an average profit of 49.9 billion yen estimated by five analysts surveyed by Refinitiv.

The company stuck to its full-year forecast for operating profit of 190 billion yen. That prediction is lower than an average forecast of 193.5 billion yen based on estimates from 22 analysts, Refinitiv data shows.

(Reporting by Tim Kelly; Editing by Clarence Fernandez)

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