Japan-based Nidec Corp. (NJ) posted lower fourth-quarter net income attributable to the company of 9.08 billion yen or 61.98 yen per share compared with the prior year's 11.86 billion yen or 79.91 yen per share.
Net sales for the period declined 2.1% to 167.59 billion yen from 171.22 billion yen in the earlier year quarter.
However, operating income for the fourth quarter went up 6.2% year-over-year to 18.77 billion yen from 17.67 billion yen, reflecting a solid recovery from flood-induced damages.
Separately, Nidec Corp. and Nidec Sankyo Corp. have decided to enter into a share exchange transaction to make Nidec Sankyo a wholly owned unit of Nidec, and that the two companies have inked a Share Exchange Agreement.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.