Nikkei 225 · 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 3 AI consumers· 1 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 | +10.9 |
| Tesla | lead1 | +49.8 | -65 | +101.7 | +62.5 | +11.4 | -9.3 |
| UBTech Robotics | lead1 | · | · | · | -21.6 | +95.4 | -39.2 |
| Nidec | node | -26.8 | -28.4 | -21.9 | -1.7 | -17.4 | +20.6 |
YTD as of 2026-07-10 · source: Yahoo Finance
The world's No.1 precision-motor maker holding the motor axis of the humanoid component chain, with the actuator that bundles a motor and a FLEXWAVE reducer at the heart of its growth story. But the body of current revenue is EV traction motors, appliances and datacenter cooling fans, so humanoids remain an option riding on the Tesla Optimus and UBTech ramps. Risks are price competition in EV motors and weakness on the demand side (robot OEMs), while vertical integration of magnets, copper and manufacturing defends costs. Downstream on the graph sit humanoid OEMs like Tesla and UBTech, whose volume-production roadmaps are the trigger that propagates demand into this node. The top downside risk is accounting: the FY2026 annual results are delayed by a misconduct probe with restatements back to FY2022 (figures here are on the corrected FY2025), so restoring financial-statement credibility and a clean audit opinion must be resolved before the growth narrative.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 1 · Hold 1 · Sell 1 · Avg. target ¥2,267 · Price ¥2,660 (07-10) · Upside -15%