Japan’s Nidec nearly doubles third-quarter operating profit By Reuters

© Reuters. File photo: The Nidec Corp logo is pictured at an earnings press conference held in Tokyo, Japan, July 25, 2018. REUTERS/Kim Kyung-hoon/File photo

TOKYO (Reuters) – Japanese electric motor maker Nidec Corp on Wednesday reported third-quarter operating profit of 53.6 billion yen ($362 million), up 91% from 28 billion yen a year earlier.

Revenue for the three months ended December was broadly in line with the average profit estimate of 55.6 billion yen among eight analysts surveyed by LSEG.

The Kyoto-based company lowered its full-year operating profit forecast by 18% to 180 billion yen, compared with the average forecast of 219.7 billion yen among 18 analysts.

($1 = 147.9000 yen)