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    Takayuki Naitou • Citigroup Inc.

    Takayuki Naitou's questions to Nidec Corp (NJDCY) leadership

    Takayuki Naitou's questions to Nidec Corp (NJDCY) leadership • Q4 2025

    Question

    Takayuki Naitou questioned which of the five new business pillars would drive the most growth, sought details on the 'regrowth' plan for the mobility segment, and asked about the competitive landscape for AI water cooling solutions.

    Answer

    An unnamed executive identified 'Sustainable Infrastructure & Energy' and 'Base of AI Society' as the pillars with the highest growth potential. For mobility, he highlighted a focus on peripheral components like ECUs and expansion in India. Regarding competition, he acknowledged intense rivalry with Chinese suppliers but stressed Nidec's competitive advantages, including its extensive supplier network in China and strong R&D capabilities.

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    Takayuki Naitou's questions to Nidec Corp (NJDCY) leadership • Q4 2024

    Question

    Takayuki Naitou of Citigroup Inc. asked for clarification on the forecasted slowdown in sales growth, particularly the expected decline in organic growth for the automotive segment.

    Answer

    An executive explained that the near-term forecast reflects business consolidations in the first half of the year, with growth expected to resume thereafter. He highlighted the increasing contribution from stable, high-margin, long-term service contracts for large infrastructure, which provides a strong profit base. Another executive reiterated that the overall forecast is a conservative, minimum target designed to ensure achievement. The automotive number reflects this cautious stance and a strategic shift away from unprofitable projects.

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