1st Quarter Results

RNS Number:1844Q
Nipro Corporation
17 August 2005


Summary Report of Consolidated Financial Results
For the Three Months Period ended June 30, 2005 (Year ending March 31, 2006)

                                                               August 10, 2005
Company name:  NIPRO CORPORATION           (Code No.: 8086 TSE/CSE1st section)
(URL: http://www.nipro.co.jp/)
Representative: Minoru Sano, President and Representative Director
Contact:        Akihiko Yamabe, Director, General Manager of Accounting &
                                Corporate Planning Division 
                                TEL: [phone]

1.Matters related to the preparation of quarterly financial summary

(1) Adoption of simplified accounting treatments:  No
(2) Difference in the method of accounting recognition from the most recent
    year:  No
(3) Changes in the scope of consolidation and application of the equity 
    method: Yes

                                             (Consolidated subsidiary added: 3)

2.Financial results for the three months ended June 30, 2005. 
(From April 1, 2005 to June 30, 2005)

(1) Results of Operations       (Note: Amounts are truncated to one million yen)

            Net Sales        Operating        Recurring         Net (Quarter)
                             Income           Income            Income

            Millions     %   Millions     %   Millions      %   Millions      %
              of yen           of yen           of yen            of yen
3 months
ended         49,975   5.7      3,537   4.1      3,542   12.0       1,054  (39.2)
June
30,2005

3 months
ended         47,271   2.3      3,397  (9.0)     3,164  (2.5)       1,734  16.4
June
30,2004

Year ended
March 31,
2005          192,320          10,404            8,685              4,518


                                Basic Earnings    Diluted Earnings
                                     per Share           per share 

                                          Yen                  Yen
3 months ended June 30,2005             16.59                    -
3 months ended June 30,2004             27.26                    -
Year ended March 31, 2005               69.37                    -

(Note) 
Percentage for net sales, operating income, etc. represents the ratio of
change over from same period of the previous year.


(Supplementary information on the consolidated results of operations)

 For this three months period, while decelerating foreign economy and
rise in crude oil price continued, corporate capital investments and
individual consumption showed a steady trend and the Japanese economy
made little improvement in general.

 Under the circumstances, we continued to work hard on development of new
products and on reinforcement of productivity and sales capabilities
so as to improve profitability.

 As a result, net sales for this three months period increased by 5.7%
from the same period of the previous year to 49,975 million yen.
This was primarily because of the growth of the Medical Division

 Operating income increased by 4.1% to 3,537 million yen, and recurring
income increased by 12.0% to 3,542 million yen. On the other hand, net quarter 
income decreased by 39.2% to 1,054 million yen, due to impairment loss included 
in extraordinary loss.

(2)Financial Position

                  Total         Shareholders'    Ratio of       Shareholders'
                  Assets        Equity           Shareholder's  Equity per Share
                                                 Equity to
                                                 Total Assets

                  Millions      Millions                 %       Millions 
                    of yen        of yen                           of yen
3 months
ended               291,484        96,881             33.2       1,524.28
June
30,2005

3 months
ended               276,461        91,692             33.2       1,441.53
June
30,2004

Year
ended
March               293,748        96,700             32.9       1,519.58
31, 2005


Cash Flows

                Cash flow from  Cash flow from   Cash flow from   Cash and cash
                operating       investing        financing        equivalent
                activities      activities       activities

                Millions        Millions         Millions         Millions
                  of yen          of yen           of yen           of yen

3 months         (1,112)          (8,395)          (1,219)          43,317
ended
June
30,2005


3 months             488          (2,132)           1,873           42,441
ended
June
30,2004

Year
ended
March             17,375         (12,627)          7,088           53,734
31,
2005




(Supplementary information on the changes in the financial position)

(1)Changes in the financial position

 Total assets decreased by 2,264 million yen from the end of the previous
fiscal year to 291,484 million yen.  The decrease consisted of decrease in
current asset by 7,233 million yen and increase in fixed assets by 4,969
million yen. 

 Current assets decreased mainly because of the decrease in
cash and bank deposits as a result of the payment for income taxes,
purchases of fixed assets as well as repayments for long-term bank loans.
 
 Liabilities, on the other hand, decreased by 2,502 million yen to 192,937
million yen, and Shareholders' Equity increased by 181 million yen to
96,881 million yen.

(2)Cash flows

 As regards cash flows for this three month period, net cash used in
operating activities amounted to 1,112 million yen, primarily reflecting
the payment for income taxes.  Net cash used in investing activities
amounted to 8,395 million yen mainly due to payments for acquisition of
fixed assets.  Net cash used in financing activities amounted to 1,219
million yen reflecting repayment of long-term bank loans.  

 As a result, the balance of cash and cash equivalent at the end of this
three month period decreased by 10,417 million yen to 43,317 million yen.

(Reference)
Projection for Consolidated Results for the Year ending March 31, 2006
(From April 1, 2004 to March 31, 2005)

                  Sales       Recurring Income   Net Income

                  Millions    Millions           Millions
                  of yen      of yen             of yen


 6 months ending
 Sep. 30,2005     99,500      5,600              2,000 

 Year ending 
 March 31,2006    206,000     11,200             4,800 

(Reference) 
Projected Earnings per Share for the Year ending March 31, 2006: 73.82yen

(Supplementary information on the business forecasts)

 The severe management environment is anticipated to continue,
due to the concern in jump in crude oil price and rise in interest rate.
We will, however, continue to work on development of new products,
strengthen productivity of each division, and strive hard to improve
profitability.

 There is no amendment to the forecast announced on May 20, 2005.

*The above forecasts are based on the information available to
the management as of the date of this report. The actual results may be
different from these forecasts due to various factors occurring hereafter.




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