KYOTO, Japan, Oct. 22, 2007 (PRIME NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced that Japan Servo Co., Ltd. (the "Company", Tokyo Stock Exchange Second Section:6585), which became a consolidated subsidiary of Nidec in April 2007, 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
(July 27, Forecast (amount) (percent) Sept. 30,
2007) 2006
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Net sales 15,000 17,490 2,490 16.6% 16,054
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Operating income (250) 423 673 -- (141)
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Recurring income (250) 390 640 -- (217)
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Net income (150) 350 500 -- (536)
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2. Reasons for revision
The Company's consolidated sales increased markedly during the six month period, reflecting higher demand for fan motors, home icemakers and amusement device components. The Company now expects to return to profit for the six months ended September 30, 2007, benefiting from the sales increase and significant cost reductions achieved under a revitalized management.
The Company plans to announce its financial forecasts for the year ending March 31, 2008 on October 26, 2007.
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