Japan's Nidec lifts annual profit outlook after Q1

TOKYO (Reuters) - Japanese electric motor maker Nidec raised its full-year operating profit forecast by 4.3% on Tuesday off the back of a recovery in demand for hard drive motors, efforts to raise its profitability and a weaker yen.

The company raised its expectations for operating profit in the financial year to the end of March 2025 to 240 billion yen ($1.53 billion), versus an earlier forecast of 230 billion yen and an average analyst view of 246.9 billion yen.

Operating profit for the April-June quarter totalled 60.3 billion yen, largely in line with 60.2 billion yen in the same period a year earlier and compared with the average estimate of 58.4 billion yen in a survey of four analysts by LSEG.

"Nidec expects rapid demand expansion of power generators which are essential to data centres," the company said in a statement.

By Reuters
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