3rd Quarter Results

RNS Number:4457I
Nipro Corporation
10 February 2005


Summary Report of Consolidated Financial Results              February 10, 2005
For the Nine Months Period ended December 31, 2004 
(Fiscal Year ending March 31,2005)

Company name: NIPRO CORPORATION             Code No.:8086   TSE/OSE-1st 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: N/A
(2)Difference in the method of accounting recognition from the most recent
  fiscal year: N/A
(3)Changes in the scope of consolidation and application of the 
   equity method:Adoption (Content: Consolidation (New) 1)

2.Business results and financial position for the nine months ended 
  December 31, 2004 of the Fiscal Year ending March 31,2005.
 (From April 1, 2004 to December 31, 2004)

(1)Results of Operations                          
                            (Note: Amounts are rounded off per one million yen)
              Net Sales       Operating        Recurring         Net (Quarter)
                              Income           Income            Income
              Millions   %    Millions   %     Millions   %      Millions   %
              of yen          of yen           of yen            of yen

Nine months    145,732  2.4      9,158  (9.0)      7,964  (1.1)     4,684  20.4
ended           
December 31,
2004

Nine months    142,256   -       10,066  -         8,049  -         3,889   -
ended        
December 31,
2003

Fiscal Year    188,700           12,557            9,539            4,216
ended           
March 31,
2004


                           Basic Earnings           Diluted Earnings
                           per Share                per Share
                           Yen                      Yen

Nine months ended                73.65                    -
December 31, 2004

Nine months ended                61.13                    -
December 31, 2003

Fiscal Year ended                64.90                    -
March 31, 2004

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

(Supplementary information on the consolidated results of operations) 
 The Japanese economy for this nine months period generated the severe
management situation under the decelerating overseas economy that slowed 
down the the exports and capital investments, as well as a jump in crude
oil price and appreciation of yen. Under such conditions, we have focused
on reinforcement of production capacity and sales capability to improve 
business performance.
 As a result, net sales for the nine months ended December 31, 2004 increased 
by 2.4% from the same period of the previous fiscal year to 145,732 million
yen. On the other hand, operating income decreased by 9.0% from the same period
of the previous fiscal year to 9,158 million yen and recurring income decreased
by 1.1% from the same period of the previous fiscal year to 7,964 million yen, 
due to the increase in selling, general and administrative expenses of the
Medical and Supermarket segments. Net (Quarter) income increased by 20.4% from 
the same period of the previous fiscal year to 4,684 million yen, mainly due to
increase in extraordinary profits.

(2)Financial Position

          Total       Shareholders'    Ratio of Shareholders'   Shareholders'
          Assets      Equity           Equity to Total Assets   Equity per Share
                               
          Millions    Millions                %                    yen        
          of yen      of yen                            

Nine      292,575       93,571               32.0|                1,471.63   
months     
ended   
December
31, 2004

Nine      272,347       90,573               33.3|                1,423.59
months   
ended   
December 
31, 2003

Fiscal    279,701        94,711              33.90                1,487.50
Year     
ended   
March   
31, 2004

Cash Flows

          Cash flows from   Cash flows from   Cash flows from   Cash and cash
          operating         investing         financing         equivalents  
          activities        activities        activities                     

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

Nine       9,163             (9,512)           10,666            52,638        
months             
ended              
December           
31, 2004          

Nine       7,926             (9,867)           13,642            40,937
months  
ended   
December
31, 2003

Fiscal     15,432           (12,786)           10,400            42,228| 
Year 
ended   
March   
31, 2004

(Supplementary information on the changes in the financial position)
(1)Changes in the financial position
 Total assets increased by 12,874 million yen from the end of the fiscal year
ended March 31, 2004, mainly due to the increase of current assets by 13,917 
million yen and the decrease of fixed assets by 1,043 million yen.
 Current assets increased mainly due to the increase in cash and bank deposits
by 10,716 million yen and fixed assets decreased mainly due to the decrease in
investment securities by 4,705 million yen affected by fall in stock prices.
 Shareholders's equity decreased by 1,140 million yen from the end of the fiscal
year ended March 31, 2004, primarily due to the increase in retained earnings 
by 1,737 million yen and the decrease in net unrealized gains (losses) on 
securities by 2,121 million yen.

(2)Cash flows
 Net cash provided by operating activities was 9,163 million yen, net cash used
in investing activities was 9,512 million yen, net cash provided by financing
activities was 10,666 million yen. As a result, cash and cash equivalents at 
the end of the period amounted to 52,638 million yen.

(Reference)
Consolidated Business Forecasts for the Fiscal Year ending March 31, 2005 
(From April 1, 2004 to March 31, 2005)

                       Sales                 Recurring        Net   
                                             Income           Income

                       Millions              Millions         Millions 
                       of yen                of yen           of yen 

Fiscal Year ending     194,000                10,900           6,300
March 31, 2005     

(Reference) Projected Earnings per Share for the Fiscal Year ending 
            March 31, 2005: 99.07 yen

(Supplementary information on the business forecasts)
 The business enviroment is anticipated to remain severe, as the uncertainly 
for the future is ever increasing, due to sluggish personal consumption 
affected by the delayed recovery of individual income as well as concerns in
further appreciation in yen and rise in interest rate.
 Under such circumstances, we will strive to strength production and sales
capability and to improve the business performance by focusing on quality,
safety, convenience and efficacy of our products and service of each division.
 There is no amendment to the forecasts announced on November 25, 2004.
 
 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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