Revision of Projections.

RNS Number:2141F
Nipro Corporation
15 November 2004


                                                             November 15, 2004

To Whom It May Concern:

Company name:  NIPRO CORPORATION
Representative:Minoru Sano, President and Representative Director
               (Code No: 8086 at the 1st Section of TSE and OSE)
Contact:        Akihiko Yamabe, Director, General Manager of Accounting &
                Corporate Planning Division (Phone: [phone])

   Notification of Revision of Projections for Business Results and Dividends

In view of the recent business performance and other factors, we hereby
announce that we have revised the projections for the business results 
and dividends,which we announced on May 20, 2004. The new projections are
as follows:


1.Revisions of the Projections for the Consolidated Results for the Six-Month 
  Period of the Fiscal Year Ending March 31, 2005
 (From April 1, 2004 to September 30, 2004)

                                                      (Unit: Millions of yen)
                                           Net Sales   Recurring   Net Income
                                                          Income
Previous Projections (A)                     98,500         4,850      2,550
Revised Projections (B)                      95,600         5,550      3,750
Increase (Decrease) (B-A)                   (2,900)           700      1,200
Increase (Decrease) in Percent                (2.9)          14.4       47.1
(For reference)                              
Six-Month Results for the                    92,029         4,234      1,887
Previous Fiscal Year   


2.Revisions of the Projections for the Non-consolidated Results for the 
  Six-Month Period of the Fiscal Year Ending March 31, 2005 
  (From April 1, 2004 to September 30, 2004)

                                                      (Unit: Millions of yen)
                                          Net Sales    Recurring   Net Income
                                                          Income 
Previous Projections (A)                     53,000        4,400        2,500
Revised Projections (B)                      53,700        4,600        3,250
Increase (Decrease) (B-A)                       700          200          750
Increase (Decrease) in Percent                  1.3          4.5         30.0
(For reference)                            
Six-Month Results for the Previous           50,579        2,990        1,400
Fiscal Year                             


3.Revisions of the Projections for the Consolidated Results for the
  Fiscal Year Ending March 31, 2005 (From April 1, 2004 to March 31, 2005)

                                                       (Unit: Millions of yen)
                                        Net Sales    Recurring      Net Income
                                                        Income 
Previous Projections (A)                  200,000        10,400         5,300
Revised Projections (B)                   194,000        10,900         6,300
Increase (Decrease) (B-A)                 (6,000)           500         1,000
Increase (Decrease) in Percent              (3.0)           4.8          18.9
(For reference)                           
Results for the Previous                  188,700          9,539        4,216
Fiscal Year 
(For reference) Projected Earnings Per Share: 99.07 yen














4.Revisions of the Projections for the Non-consolidated Results for the
  Fiscal Year Ending March 31, 2005 (From April 1, 2004 to March 31, 2005)

                                                      (Unit: Millions of yen)
                                          Net Sales   Recurring    Net Income
                                                         Income 
Previous Projections (A)                    108,000       9,100         5,150
Revised Projections (B)                     109,000       9,100         5,750
Increase (Decrease) (B-A)                     1,000           -           600
Increase (Decrease) in Percent                  0.9           -          11.7
(For reference)                            
Results for the Previous                    106,119       7,807         4,060
Fiscal Year
(For reference) Projected Earnings Per Share: 90.42 yen


5.Revisions of the Projections for Dividends

                        Interim Dividends  Year-End Dividends       Total
                        per Share          per Share                Dividends
                                                                    per Share  
                                                                      
Previous Projections           19.50 yen            19.50 yen       39.00 yen 
(May 20, 2004)
Revised Projections            25.50 yen            19.50 yen       45.00 yen 
(For Reference)                                                              
Dividends paid per Share for   11.00 yen            19.50 yen       30.50 yen
the Previous Fiscal Year


6.Reasons for the Revisions
(1)Revisions of the Projections for the Results for the Six-Month Period of
   the Fiscal Year Ending March 31, 2005


 Net Sales are lower than that of the previous projections, mainly due to the
delays in the openings of new stores and slump of the existing stores caused 
by the increasing competitions, which affected the Supermarket Division.
 Recurring Income is higher than that of the previous projections, mainly due
to the exchange gains. Net Profit is higher than that of the previous 
projections due to gain on sales of investment securities at extraordinary 
gains.


 Net Sales are in general as expected. Although Operating Income decreased 
under the influence of drop in prices etc. Recurring Income exceeds the 
previous projection due to  exchange gain etc. Net Profit is higher than that
of the previous projections due to gain on sales of investment securities at
extraordinary gains.

(2)Revisions of the Projections for the Consolidated Results for the Fiscal 
   Year Ending March 31, 2005.


 Net Sales in the second half are expected to be in the same trend as the 
first half, and Net Sales will decrease from the previous projections. 
Recurring Income and Net Income will be higher than those of the previous 
projections mainly due to the effect of interim results.


 Net Sales in the second half are expected to be in the same trend as the
first half and Net Sales will be higher than that of the previous projections.
On the other hand, we do not change the projections for the Recurring Income, 
because there are some indefinite factors such as exchange fluctuations for 
the second half of the fiscal year. Net Income is expected to exceed the 
previous projection due to gain on sales of investment securities.

(3)Revisions of the Projections for Dividends

 Our policy provides that 50% of the non-consolidated net income be distributed
to the shareholders as dividends, and the revisions of the projected business
results have accordingly resulted in the revisions of the projections for
dividends.






* The above projections 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.







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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