Nidec (6594) Q4 2026 earnings summary

Executive summary

• FY25 net sales rose 3.9% to ¥2,708,705m, while a record operating loss of ¥518,978m and a ¥564,624m net loss attributable to owners followed major impairments and accounting-related costs.

• Improper accounting led to extensive restatements, regulatory scrutiny, and a Tokyo Stock Exchange Security on Special Alert designation.

• Leadership launched governance, compliance, and cultural reforms, alongside a shift to portfolio selection, ROIC-based management, restructuring, and investment in selected growth areas.

Financial highlights

• FY25 operating loss was ¥518,978m, mainly due to ¥632,135m of impairment losses.

• Operating cash flow was ¥234,218m and free cash flow was ¥97,979m, both down year-over-year.

• Total assets were ¥3,107,621m; equity attributable to owners was ¥794,164m, and EPS fell to ¥(492.55) from ¥73.69.

• No dividend was declared for FY25; future dividend policy remains undecided.

Outlook and guidance

• FY2027 forecast: net sales ¥2,800,000m, operating profit ¥200,000m, and profit attributable to owners ¥100,000m.

• Management expects a return to profitability through business transformation and governance reforms; FY26 assumptions include USD/JPY ¥150 and EUR/JPY ¥180.