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Nidec posts 4.5% dip in third quarter profit -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Nidec Corp logo was displayed at an earnings result news conference, Tokyo, Japan. July 25, 2018. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters), A Japanese producer of electric motors, Nidec Corp posted on Wednesday a fourth-quarter operating profit at 44.3 billion yen. That’s down from 46.4 trillion a year earlier.

Five analysts polled by Refinitiv estimated that the average profit for three months ended Dec 31 was 49.9 trillion yen.

According to Refinit data, the company maintained its full-year outlook for operating profits of 190 trillion yen. The prediction was lower than the average of 193.5 trillion yen, based on 22 analyst estimates. (This story is corrected in the second paragraph to reflect end-of-quarter Dec 31 and Sept 30.

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