Nidec founder unhappy with profitability, pushes on targets japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.
Japanese electronic components maker Nidec Corp. said on Wednesday its first-quarter operating profit jumped 60% to 44.6 billion yen ($406 million), helped by a rebound in demand for motors for electric vehicles (EVs) and home appliances.
Nidec, better known for producing electric motors for computer hard drives and smartphones, is trying to capture about a third of an emerging market for energy-saving EV motors known as e-axles. Demand for those is widely expected to increase 10 times over the next decade.
As it expands into auto parts, Nidec on Monday said it had agreed to consider a joint venture with Taiwan s Hon Hai Technology Group to develop EV motors. The companies said in a news release they would aim to establish the venture in 2022, helping Nidec expand into new markets and ensuring a stable supply of motors for Hon Hai.
Japan s Nidec books 60% quarterly profit rise helped by EV motor demand reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Apr 27, 2021
Almost half a century after founding his pioneering motor maker on the family farm, Japanese billionaire Shigenobu Nagamori is handing over leadership of Nidec Corp. to a former Nissan Motor Co. executive to lead an ambitious pivot into the electric-vehicle space.
Jun Seki will take over from Nagamori as chief executive officer, the Kyoto-based company said last week as it announced better-than-projected annual results. The leadership change, which comes a little over a year after Seki’s move from Nissan, will be finalized when Nidec’s board meets June 22. Nagamori, who founded Nidec in a shack in 1973, will remain chairman.
Billionaire founder of Nidec hands reins to ex-Nissan star japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.