KYOTO, Japan, Oct. 27, 2008 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) 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 upward its consolidated financial forecasts for the six months ended September 30, 2008 as follows.
1. Revised consolidated financial forecasts (Japanese GAAP) for the six months ended September 30, 2008.
(Yen in
(From April 1, 2008 to September 30, 2008) millions)
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For the six months ended September 30, 2008
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For the
Previous six months
forecast ended
(April 23, Revised Change Change September
2008) Forecast (amount) percent) 30, 2007
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Net sales 55,000 58,000 3,000 5.5% 53,038
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Operating
income 4,500 5,000 500 11.1% 4,139
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Net income 2,500 4,800 2,300 92.0% 3,261
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2. Reasons for revision
The upward revision to the consolidated sales and operating income forecast primarily reflects stronger-than-projected sale of lens and actuators, stepping motors, home appliance units and industrial robots. The Company has also raised its consolidated net income forecast to reflect exchange gains and tax adjustments under the tax effect accounting method.
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