KYOTO, Japan, July 27, 2007 (PRIME NEWSWIRE) -- Nidec Corporation ("Nidec") (NYSE:NJ) today announced that one of its consolidated subsidiaries, Japan Servo Co., Ltd. ("Japan Servo") (Tokyo Stock Exchange Second Section: 6585), has revised its consolidated financial forecasts for the year ending March 31, 2008 as follows.
Japan Servo became a consolidated subsidiary of Nidec in April 2007 and, in view of the current progress in post merger integration, expects to return to break-even on a full-year basis.
Revised consolidated financial forecasts (Japanese GAAP) for the
year ending March 31, 2008.
(From April 1, 2007 to March 31, 2008) (Yen in millions)
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For the year ending March 31, 2008
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For the
year
ended
Previous Revised Change Change March 31,
Forecast Forecast (amount) (percent) 2007
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Net
sales 30,000 31,000 1,000 3.3% 32,177
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Operating
income (600) 0 600 -- (560)
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Recurring
income (820) 0 820 -- (764)
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Net
income (850) 0 850 -- (1,451)
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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.