KYOTO, Japan, April 25, 2007 (PRIME NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced that Nidec Copal Corporation ("the Company"), one of its consolidated subsidiaries whose shares are listed on the First Section of the Tokyo Stock Exchange (Code: 7756), has revised upward its consolidated financial forecasts for the year ended March 31, 2007 as follows.
Revised consolidated financial forecasts (Japanese GAAP) for the year ended March 31, 2007.
(Yen in
millions,
(From April 1, 2006 to March 31, 2007) % )
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For the year ended
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March 31, March 31,
2007 2006
Previous
forecast
(Oct. 27, Revised Change Change
2006) Forecast (amount) (percent)
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Net
sales 75,000 84,012 9,012 12.0% 63,094
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Operating
income 5,600 5,827 227 4.1% 5,006
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Recurring
income 5,700 6,076 376 6.6% 5,355
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Net
income 3,300 4,304 1,004 30.4% 2,660
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Reasons for revision
Sales of the Company's camera shutters and exterior metal parts (particularly for use in single-lens-reflex digital cameras) and cellular phone shutter-lens units increased at a pace higher than previously anticipated, reflecting the continued briskness in the digital camera and cellular phone markets. New lines of liquid-crystal-display backlights brought to market in the fiscal year also contributed to the sales increase. Increased gain on securities sold together with better sales led to a significant increase in net income.
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