KYOTO, Japan, Feb. 1, 2007 (PRIME NEWSWIRE) -- Nidec Corporation today announced that Nidec Copal Electronics Corporation ("the Company"), one of its consolidated subsidiaries whose shares are listed on the First Section of the Tokyo Stock Exchange (Code:6883), has revised 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) (Yen in millions)
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For the year ending March 31, 2007 For the year ended
March 31, 2006
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Previous Revised Change Change
forecast Forecast (amount) (percent)
(October
27, 2006)
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Net
sales 24,500 26,600 2,100 8.6% 22,599
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Operating
income 4,300 3,400 900 20.9% 3,628
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Recurring
income 4,300 3,400 900 20.9% 3,768
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Net
income 2,800 2,200 600 21.4% 2,560
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2. Reasons for revision
Reflecting healthy demand for electronic circuit components and pressure sensors, the Company has revised its consolidated sales forecast for the fiscal 2006 upward. In the meantime, however, the Company expects the consolidated earnings for the fiscal 2006 will be below its previous guidance, citing softer demand for its entertainment devices, competition-induced price declines and inventory adjustments in the copier market, and the Goodwill amortization associated with the acquisition of Fujisoku Corporation in November 2006.
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Disclaimer Regarding Forward-Looking Statements
This press release contains forward-looking statements (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Nidec and its group companies (the Nidec Group). These forward-looking statements are based on the current expectations, assumptions, estimates and projections of the Nidec Group in light of the information currently available to them. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "plan" or similar words. These statements discuss future expectations, identify strategies, contain projections of results of operations or of the Nidec Group's financial condition, or state other forward-looking information. Known and unknown risks, uncertainties and other factors could cause the actual results to differ materially from those contained in any forward-looking statement. We cannot promise that our expectations expressed in these forward-looking statements will turn out to be correct. Our actual results could be materially different from and worse than our expectations as a result of certain factors, including, but not limited to (i) the Nidec Group's ability to design, develop, mass produce and win acceptance of their products, (ii) general economic conditions in the computer, information technology and related product markets, particularly levels of consumer spending, (iii) exchange rate fluctuations, particularly between the Japanese yen and the U.S. dollar and other currencies in which we make significant sales or in which the Nidec Group's assets and liabilities are denominated, (iv) the Nidec Group's ability to acquire and successfully integrate companies with complementary technologies and product lines, and (v) adverse changes in laws, regulations or economic policies in any of the countries where the Nidec Group has manufacturing operations, especially China.