3rd Quarter Results

RNS Number:7550R
Nipro Corporation
23 February 2007


Summary Report of Consolidated Financial Results                February 9, 2007
For the Nine-Month Period ended December 31, 2006
(Fiscal Year ending March 31, 2007)

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 treatment from the most recent
    fiscal year:
    Accounting standard for net assets in balance sheet has been adopted since
    this accounting period.
(3) Changes in the scope of consolidation and application of the equity method:
    Adoption(Content: Added 3 entities, Removed 2 entities)

2. Business results and financial position for the nine months ended December
   31, 2006 of the Fiscal Year ending March 31, 2007(From April 1, 2006 to
   December 31,2006).
(1) Result of Operations
                      Net Sales       Operating      Recurring       Net (Quarter)
                                     Income         Income          Income
                      Millions        Millions       Millions        Millions      
                     of Yen     %    of Yen    %    of Yen    %     of Yen    % 
Nine months ended   145,796  (6.6)  10,012  (5.3)   9,139  (16.6)  8,530   85.0
December 31, 2006
Nine months ended   156,047    7.1   10,573  15.5  10,957    37.6  4,610    (1.6)
December 31, 2005
Fiscal Year ended   206,801          12,331        12,228          4,512
March 31, 2006

                               Basic Earnings                Diluted Earnings
                                    per Share                       per Share
                                          Yen                             Yen
Nine months ended                      134.31                               -
December 31, 2006
Nine months ended                       72.55                               -
December 31, 2005
Fiscal Year ended                       69.57                               -
March 31, 2006
(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 situation of Japanese economy for this nine-month period generally
remained in the trend of gradual recovery while we were afraid of a negative
impact to revenues of the enterprises by the raise of the interest rate due to
the quantitative financial relief policy and lifting policy of the zero interest
rate determined by the Bank of Japan, which, however, affected limitedly to
capital investments and individual consumptions. Under such situation, we have
made effort to reinforce our production capacity and selling capability to
enhance our brand recognitions by upgrading the qualities of our basic products
and continued to develop innovative products with our techniques.
  Also we decided to invest our operational resources intensively to Medical and
Pharmaceutical businesses and, consequently, we divested our subsidiary
companies of store business, Nissho Corporation and Nissho Drug Co., Ltd.
 As a result, net sales for the nine months ended December 31, 2006 decreased by
6.6% from the same period of the previous fiscal year to 145,796 million yen.
Operating income decreased by 5.3% from the same period of the previous fiscal
year to 10,012 million yen and recurring income decreased by 16.6% from the same
period of the previous fiscal year to 9,139 million yen. Net income increased,
due to the profit on sales of the shares of the subsidiary companies, by 85.0%
to 8,530 million yen from the same period of the previous fiscal year.

(2) Financial Position
                       Total Assets       Shareholder's   Ratio of    Shareholder's
                                                          Equity to      Equity
                                                       Total Assets    per Share
                    Millions of Yen     Millions of Yen       %             Yen
Nine months ended    318,836            117,638            36.5       1,831.78
December 31, 2006
Nine months ended    327,635            108,825            33.2       1,712.78
December 31, 2005
Fiscal Year ended    338,740            112,390            33.2       1,767.69
March 31, 2006

(( Cash Flows ))
                 Cash flows from  Cash flows from  Cash flows from    Cash and
                   Operating        Investing        Financing        Cash 
                  activities       activities       activities       Equivalents
                  Millions of Yen Millions of Yen Millions of Yen Millions of Yen
Nine months ended     8,324              (730)         (17,931)          39,757
December 31, 2006
Nine months ended      3,092          (21,064)           8,362           45,166
December 31, 2005
Fiscal Year ended      6,701          (27,555)          15,712           49,914
March 31, 2006

(Supplementary information on the changes in the financial position)
(1)Changes in the financial position
 Total assets decreased by 19,904 million yen to 318,836 million yen from the
end of previous fiscal year. Current assets decreased by 1,580 million yen to
144,282 million yen and fixed assets decreased by 18,324 million yen to 174,553
million yen from the end of previous fiscal year. Fixed assets decreased mainly
due to the decrease in the tangible assets such as buildings and structures and
land and the investment and others assets such as investment securities and
lease deposits.
 Total liabilities decreased by 23,539 million yen to 201,197 million yen.
Current liabilities decreased by 5,888 million yen to 105,396 mainly due to
decrease of current portion of bonds and commercial paper, and fixed liabilities
decreased by 17,651 million yen to 95,801 mainly due to long-term borrowings. 
 Shareholders' equity including minority interests increased by 3,635 million
yen to 117,638 million yen from the end of previous fiscal year, in which earned
surplus increased by 4,141 million yen and valuation difference of other
investment securities from decreased by 2,699 million yen to 22,864 million yen,
from the end of previous fiscal year.

(2)Cash flows
 Net cash provided by operating activities was 8,324 million yen, net cash used
in investing activities was 730 million yen, net cash used in financing
activities was 17,931 million yen. As a result, cash and cash equivalents at the
end of the period amounted to 39,757 million yen.
 Net cash used in investing activities was mainly spent in acquisition of fixed
assets and net cash used in financing activities was mainly spent in repayments
of bond and commercial paper.

(( Reference))
Consolidated Business Forecasts for the Fiscal Year ending March 31, 2007(From
April 1, 2006 to March 31, 2007).
                        Sales             Recurring Income       Net Income
                        Millions of Yen    Millions of Yen       Millions of Yen
Fiscal Year ended           182,000              10,500                  8,200
March 31, 2007
(Reference) Projected Earnings per Share for the Fiscal Year ending March 31,
            2007:129.14 yen

(Supplementary information on the business forecasts)

 The business environment is anticipated to remain severe due to the concern of
risks in increase of interest rates and foreign currencies exchange
fluctuations. We, however, continuously endeavor to develop new products, as
well as to reinforce the production capacity and selling capability in order to
improve the business performance.
 Thus, we forecast 182 billion yen of consolidated sales, 10.5 billion yen of
consolidated recurring income and 8.2 billion yen of consolidated net profit,
for the fiscal year ending March 31, 2007.

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



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