Nidec Corporation
ConvictionContext
Vertically integrated manufacturer of brushless DC and precision motors + drives; grows organically plus via a serial-M&A 'roll-up' of motor/machine-tool/power businesses. Sells B2B to storage OEMs, auto OEMs/Tier-1s, appliance and industrial makers, and server/data-center customers.
Revenue
JPY 2,607.1B~$17.5B) FY ended Mar 31 2025, +11.1% y/y -- record but PRELIMINARY/pre-restatement (auditor disclaimer of opinionRev growth
+11.1% FY2025reported); Q1 FY26 -1.6% y/y (JPY 637.9B); FY26 guide roughly flat (~JPY 2,600BGross margin
~21-22%approximate structural range; exact FY25 figure under restatementOp margin
~9-10% structuralQ1 FY26 (qtr ended Jun 2025) 9.6% (op profit JPY 61.5B on sales JPY 637.9B); FY26 guide ~10% / JPY 260B -- all pre-restatementCapex intensity
~7-9% of sales estimatedcapital-intensive motor/EV manufacturing footprintMarket cap
~$21B USD~JPY 3.1T at ~148 JPY/USD, 29 Jun 2026; TSE:6594 primary listing, also OTC ADR NJDCYThe read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
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- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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