Annual Report and Accounts

    RNS Number : 8450U
  Nipro Corporation
  20 May 2008
   


 Consolidated Financial Statements                                                      *
 For the year ended March 31, 2008                                           May 19, 2008
 Company name: NIPRO CORPORATION               Stock Exchange        Tokyo and Osaka
                                                listed:
 Code No:                8086                  URL:                  http://www.nipro.co.
                                                                     jp/
 Representative:         Minoru Sano,                                                    
                         President and
                         Representative
                         Director
 Contact:                Akihiko Yamabe,       TEL                   [phone]
                         Director, General
                         Manager of
                         Accounting and
                         Corporative Planning
                         Division
 Date of the general shareholder's meeting to be held: June 26, 2008
 Scheduled date of the annual securities report filing: June 26, 2008
 Scheduled date to commence payment of dividends: June 27, 2008

    1. Consolidated Results for the Year ended March 31, 2008 (From April 1, 2007 to March 31, 2008)
    (1) Consolidated Results of Operations (Note: Amounts are truncated to 1 million yen)

                                Net Sales       Operating Income     Recurring Income        Net Income
                            Millions of yen %  Millions of yen   %  Millions of yen   %  Millions of yen   %
 Year ended March 31, 2008   172,113    (6.6)     13,677       4.8     9,669     (14.8)     4,454     (47.9)
 Year ended March 31, 2007   184,362   (10.9)     13,053       5.9    11,355      (7.1)     8,555       89.6

                            Earnings   Diluted Earnings per  Ratio of Net Income    Ratio of Recurring   Ratio of Operating 
                            per Share         share            to Shareholders'      income to Total     Income to Net Sales
                                                                    Equity                Assets
                                  Yen                   Yen                     %                     %                    %
 Year ended March 31, 2008      70.17                    -                    3.7                   2.8                  7.9
 Year ended March 31, 2007     134.71                    -                    7.2                   3.4                  7.1
    

    Note:    Equity in profit(loss) of affiliate    Year ended March 31, 2008:    15 million yen    Year ended March 31, 2007:    (791)
million yen

    (2) Consolidated Financial Position
                             Total Assets      Net Assets     Equity Ratio  Net Assets per Share
                            Millions of yen  Millions of yen             %                   Yen
 Year ended March 31, 2008          349,302          119,544          33.8              1,861.79
 Year ended March 31, 2007          336,659          127,020          37.3              1,979.21
    

    Note:    Shareholders' equity:    Year ended March 31, 2008:    118,155 million yen    Year ended March 31, 2007:  125,651 million yen

    (3) Consolidated Cash Flows
                              Cash flows from       Cash flows from       Cash flows from        Cash and cash
                            operating activities  investing activities  financing activities      equivalents
                                 Millions of yen       Millions of yen       Millions of yen       Millions of yen
 Year ended March 31, 2008                 9,675              (30,072)                22,267                47,656
 Year ended March 31, 2007                14,488               (2,924)              (15,654)                46,109

    2. Dividends
                                  Annual dividends per share     Annual total of     Pay-out ratio   Ratio of dividends
                                                                    dividends              (           to Net Assets
                                                                                     Consolidated)     (Consolidated)
                                 Interim   Year-end   Annual 
                                 dividend  dividends  dividen
                                    s                   ds
                                      Yen        Yen      Yen       Millions of yen             %                     % 
 Year ended March 31, 2007        43.00      37.00     80.00          5,079              59.4               4.3
 Year ended March 31, 2008        28.00       9.50     37.50          2,380              53.4               2.0
 Year ending March 31,            21.00      28.00     49.00                             51.0
 2009(Projected)

    3. Projected Consolidated Financial Results for the Year ending March 31, 2009 (From April 1, 2008 to March 31, 2009)

                                      Net Sales              Operating             Recurring Income            Net Income         Earnings 
                                                               Income                                                             per Share
                                 Millions of yen    %  Millions of yen       %  Millions of yen       %  Millions of yen       %        Yen
 Six months ending Sept. 30,              88,400  4.9            5,800  (22.0)            4,900  (25.0)            2,700  (18.9)      42.54
 2008
 Year ending March 31, 2009              184,000  6.9           12,800   (6.4)           11,200    15.8            6,100    37.0      96.10
    

    Note: The % displays in the line of six months ending Sept. 30, 2008 show increase/decrease ratio against the six months ended Sept.30,
2007. The % displays in the line of Year ending March 31, 2009 show increase/decrease ratio against the year ended March 31, 2008

    4. Others
    (1) Change in significant subsidiaries during the year ended March 31, 2008(Resulting in a change in scope of consolidation): Yes
    Addition: 1 (Saitama Daiichi Pharmaceutical Co., Ltd.)    Removal:0

    (2) Changes in accounting principles, procedures or presentation related to the preparation of consolidated financial statements (i.e.,
changes in the basis of significant accounting policies)
    1) Changes due to adoption of new accounting standards: Yes
    2) Changes other than those included in 1) above: None

    (3) Total number of common shares issued
    1) Total number of common shares issued (Including treasury stock):

 Year ended March 31, 2008:       Year ended March 31, 2007: 63,878,505 shares
 63,878,505 shares
    2) Total number of shares in treasury:
 Year ended March 31, 2008: 415,037  Year ended March 31, 2007: 393,067 shares
 shares

    (Reference) Overview of Non-consolidated financial results

    1. Results for the year ended March 31, 2008 (From April 1, 2007 to March 31, 2008)
    (1) Results of Operations     (Note: % shows increase/decrease ratio against the previous years)

                                 Net Sales          Operating Income        Recurring Income
                            Millions of yen   %   Millions of yen    %   Millions of yen      % 
 Year ended March 31, 2008          135,035  6.0           12,273  14.7            8,618  (21.9)
 Year ended March 31, 2007          127,407  8.9           10,696   1.3           11,031   (4.0)
       
                                  Net Income         Earnings   Diluted Earnings per
                                                     per Share         share
                            Millions of yen      %         Yen                   Yen
 Year ended March 31, 2008            4,848  (53.5)      76.39                    - 
 Year ended March 31, 2007           10,420   110.0     164.08                    - 

    (2) Financial Position
                             Total Assets      Net Assets     Equity Ratio  Net Assets per Share
                            Millions of yen  Millions of yen           %                     Yen
 Year ended March 31, 2008          309,863          124,172          40.1              1,956.60
 Year ended March 31, 2007          306,347          133,768          43.7              2,107.07
    Note:    Shareholders' equity:    Year ended March 31, 2008:    124,172 million yen    Year ended March 31, 2007:  133,768 million yen

    2. Projections for the Results of the Year ending March 31, 2009 (From April 1, 2008 to March 31, 2009)

                                       Net Sales            Operating Income         Recurring Income            Net Income         Earnings

                                                                                                                                    per
Share
                                 Millions of yen      %  Millions of yen       %  Millions of yen       %  Millions of yen       %       
Yen
 Six months ending Sept. 30,              65,500  (2.5)            4,800  (26.2)            4,500  (27.5)            2,700  (24.5)     
42.54
 2008
 Year ending March 31, 2009              136,000    0.7           11,300   (7.9)           10,900    26.5            6,350    31.0    
100.04
    Note: The % displays in the line of six months ending Sept. 30, 2008 show increase/decrease ratio against the six months ended Sept.30,
2007. The % displays in the line of Year ending March 31, 2009 show increase/decrease ratio against the year ended March 31, 2008


 *Disclaimer regarding projection information including appropriate use of
 forecasted financial results, and other special notes
  
 The projection figures shown above are based on information that was
 available at the time of preparation and may contain certain uncertainties.
 Actual performance and other factors may differ from these projections due to
 changes in circumstances and other developments.
  



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