KYOTO, Japan, Oct. 22, 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 six months ended September 30, 2007 as follows.
1. Revised consolidated financial forecasts (Japanese GAAP) for the six months ended September 30, 2007.
(From April 1, 2007 to September 30, 2007) (Yen in millions, %)
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For the six months ended September 30, 2007
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Previous six months
forecast Revised Change Change ended
(April 25, Forecast (amount) (percent) Sept. 30,
2007) 2006
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Net sales 40,000 43,000 3,000 7.5% 40,113
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Operating income 2,900 3,450 550 19.0% 2,679
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Recurring income 2,900 3,600 700 24.1% 2,796
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Net income 1,700 2,600 900 52.9% 1,823
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Earnings per share 27.04 41.36 14.32 53.0% 29.0
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2. Reasons for revision
Reflecting continued briskness in the digital camera market, shipments and sales of the Company's camera shutters and metal casings during the six-month period are expected to reach record levels. The Company has also seen reduced costs and higher revenue drive profits significantly, and now anticipates the consolidated results for the six months ended September 30, 2007 will exceed its initial forecast.
The Company plans to announce its consolidated financial forecasts for the year ending March 31, 2008 on October 26, 2007.
Note: The above financial forecasts include the estimated six month results of one of the Company's subsidiaries, Nidec Copal (Zhejiang) Co., Ltd., the consolidated accounting period of which has been extended to nine months (January 1 through September 30) from six months (January 31 through June 30).
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