KYOTO, Japan, April 25, 2006 (PRIMEZONE) -- Nidec Corporation (the "Company") (NYSE:NJ) (Tokyo, Osaka:6594) today announced that it has revised upward its non-consolidated financial forecasts for the year ended March 31, 2006 as follows.
1. Revised non-consolidated financial forecasts (Japanese GAAP) for the year ended March 31, 2006.
(From April 1, 2005 to March 31, 2006) (Yen in millions)
For the year ended March 31, 2006 For the year
ended
Previous March 31, 2005
forecast
(Oct. 28, Revised Change Change
2005) forecast (amount) (percent)
Net sales 160,000 168,220 8,220 5.1% 130,351
Operating
income 7,000 8,852 1,852 26.5% 2,352
Recurring
income 17,500 24,544 7,044 40.3% 13,468
Net income 14,000 19,866 5,866 41.9% 12,425
2. Reasons for revision
The Company's non-consolidated results for the year ended March 31, 2006 outperformed the upwardly-revised previous forecast by 5.1% in sales and 26.5% in operating income, with a strong demand for small precision motors in the background. The significant increases in the Company's recurring income and net income derive from exchange gains and dividends received from its overseas subsidiaries.
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