KYOTO, Japan, Feb. 1, 2007 (PRIME NEWSWIRE) -- Nidec Corporation announced today that Nidec Sankyo Corporation (the "Company"), one of its consolidated subsidiaries whose shares are listed on the First Section of the Tokyo Stock Exchange (Code:7757), has revised downward its consolidated financial forecasts for the year ending March 31, 2007 as follows.
1. Revised consolidated financial forecasts (Japanese GAAP) for the year ending March 31, 2007.
(From April 1, 2006 to March 31, 2007) (Yen in millions)
For the year ending March 31, 2007
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Previous Revised Change Change For the
Forecast Forecast (amount) (percent) year ended
(April 25, March 31,
2006) 2006
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Net sales 125,000 110,000 15,000 12.0% 121,994
Operating income 13,000 9,000 4,000 30.8% 12,151
Recurring income 12,500 10,000 2,500 20.0% 14,901
Net income 10,000 9,000 1,000 10.0% 12,672
2. Reasons for revision
The Company lowered its fiscal 2006 sales and earnings forecasts for reasons including postponed delivery of LCD transfer robots at the customers' request, a sharp decline in demand for motors used in audio and video devices, and a significant cost increase associated with the launch of new products including lenses and actuators.
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