Japan’s Nidec posts 10% rise in second-quarter operating profit

TOKYO (Reuters) – Japanese electric motor maker Nidec posted a 10% rise in quarterly operating profit on Wednesday to 60.7 billion yen ($398.79 million), compared to 55.1 billion yen in the same period a year earlier.

The earnings for the three months to end-September compared to a 56.5 billion yen average profit estimate in a survey of eight analysts by LSEG.

The Kyoto-based firm forecast full-year operating profit of 240 billion yen, versus an average forecast of 244.7 billion yen in a poll of 20 analysts.

($1 = 152.2100 yen)