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Nidec records ‘highest-ever profit’ as it expands industrial motor division

Nidec is already one of the world’s largest suppliers of components for industrial robots and machinery, and it’s expanding rapidly.

The company says it has just recorded its “highest-ever quarterly operating profit” for its appliance, commercial and industrial product segment.

And the company says it is planning to “further strengthen” these segments and its industrial motor division. 

The St Louis-based Nidec Motor Corporation is one of Nidec’s largest subsidiaries, and the parent company is a Japan-headquartered multinational.

It manufactures electric motors and has been growing along with the growth of what is a global boom in industrial robotics and automation market, as well as a growing business in automotive.

nidec pie chart

The company says its appliance, commercial and industrial motor division is set to play an important role in the continued growth of the company as a whole.

Recently, the company announced an upward revision to its consolidated fiscal first-half and year-end financial forecasts for the fiscal year 2018.

At the same time, the company’s appliance, commercial and industrial product segment recorded its highest-ever quarterly operating profit.

Nidec’s operating profit for the quarter ending June 30 this year came to a total of $421 million, which is 20 percent higher than the same quarter in 2017.

Nidec’s appliance, commercial and industrial motor division accounts for 35 percent of the company group’s revenue.

As a part of its growth strategy, Nidec has named Henk van Duijnhoven as global business leader of its appliance, commercial and industrial motor division.

He has also been appointed CEO of St Louis-based Nidec Motor Corporation.

Most recently, van Duijnhoven was a Partner and managing director of the Boston Consulting Group, where he was responsible for business turnaround, mergers and acquisitions, and strategy planning for clients in the industrial and medtech markets.

He holds a Bachelor of Sciences degree from the College of Automotive Engineering and a Master of Business Administration from the Massachusetts Institute of Technology.

Nidec’s appliance, commercial and industrial motor division was formed through a series of mergers and acquisitions that include businesses that were previously part of Emerson Electric Co.

In April this year, Nidec announced that it had entered into a stock purchase agreement to acquire the compressor business of Whirlpool Corporation.