Precision motors · Humanoid actuators
Nidec
The world's largest precision-motor maker, holding the 'motor + reducer = actuator' axis of the humanoid/robot component chain. It targets robot motion control with high-torque, compact actuators that pair motors with FLEXWAVE strain-wave gearheads, and early humanoid-OEM supply to Tesla Optimus and UBTech is its new growth option. But the body of current earnings is EV traction motors, appliances and datacenter cooling fans — so until humanoids reach volume production, the EV/appliance demand cycle drives the valuation. That said, its FY ended March 2026 annual results are delayed by an accounting-misconduct probe (a third-party committee formed September 2025) with multi-year restatements back to FY2022 (~JPY 160.7bn net-asset impact), so figures here are on the corrected FY2025 finals and restoring financial-reporting credibility is a prerequisite risk.
6594.T Updated Jul 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Nidec is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 3 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FY2025 (ended Mar 2025, IFRS) revenue ¥2,607.8bn (+11.1%, record) and operating profit ¥238.1bn (+47.1%)
- Customer concentration · Precision motor + reducer = actuator axis (humanoid growth option); the body of earnings is Appliance/Industrial, EV and precision motors.
- Segments · Appliance, Commercial & Industrial · Automotive (EV traction) · Small Precision Motors · Machinery · Electronic & Optical Components
Revenue from
- Humanoid · robot OEMs (motors · actuators) High confidence
Motors, actuators and FLEXWAVE gearheads to humanoid and robot OEMs. - Tesla Medium confidence
Supplies motors and actuators to Tesla's Optimus humanoid — the Optimus volume roadmap is the key trigger for new demand. - EV · home appliances · data centers (motors) Medium confidence
EV traction motors, appliances and datacenter cooling fans. - UBTech Robotics Medium confidence
Supplies motors/actuators to UBTech humanoids (per Morgan Stanley's value-chain map) — the second axis of humanoid-OEM diversification.
Pays to
- reducers · components (undisclosed) Low confidence
Reducers and parts for actuators. - Magnets · materials · manufacturing (undisclosed) Low confidence
Permanent magnets, copper, materials and manufacturing.
Investments
- Growth investment (EV E-Axle capacity, machinery M&A, portfolio transformation) Medium confidence· Amount 314.6 JPY_bn · FY2025 · Machinery segment revenue (M&A-built machine tools/robots)
Nidec's capital allocation centers on M&A and EV-traction capacity — Automotive invests in EV traction-motor (E-Axle) systems while pruning unprofitable models in a portfolio transformation, and Machinery is a segment built up through acquisitions of machine-tool and industrial-robot businesses. In FY2025 it consolidated subsidiaries and restructured toward higher-margin businesses. (Recorded as a basket since the individual targets are multiple/undisclosed.)Mentions EN Investing.com Published Apr 27, 2026: Nidec delays results amid accounting-irregularity probe; multi-year restatementsConfirms JA Nidec (TDnet corrected results) Published Sep 26, 2025: Nidec FY ended Mar 2025 results (IFRS, corrected)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Foxconn (Hon Hai) | lead2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| Tesla | lead1 | +49.8 | -65 | +101.7 | +62.5 | +11.4 | -21.3 |
| UBTech Robotics | lead1 | · | · | · | -21.6 | +95.4 | -38.8 |
| Nidec | node | -26.8 | -28.4 | -21.9 | -1.7 | -17.4 | +18.4 |
YTD as of 2026-09-04 · source: Yahoo Finance
Nidec operates across Nikkei 225, Precision motors, Humanoid actuators. It is +18.4% in 2026. The stock (+18.4%) and its demand side (avg -30%) are moving in step. Among connected nodes the furthest ahead is Tesla (-21.3%) and the furthest behind is UBTech Robotics (-38.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. That said, its FY ended March 2026 annual results are delayed by an accounting-misconduct probe (a third-party committee formed September 2025) with multi-year restatements back to FY2022 (~JPY 160.7bn net-asset impact), so figures here are on the corrected FY2025 finals and restoring financial-reporting credibility is a prerequisite risk.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 1 · Hold 1 · Sell 1 · Avg. target ¥2,267 · Price ¥2,611 (09-04) · Upside -13%