KYOTO, Japan, Oct. 22, 2007 (PRIME 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 forecast 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 50,000 52,500 2,500 5.0% 58,043
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Operating income 3,000 4,100 1,100 36.7% 6,061
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Recurring income 3,000 4,180 1,180 39.3% 6,381
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Net income 2,500 3,200 700 28.0% 5,903
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2. Reasons for revision
The Company has revised upward its initial forecast for consolidated net sales for the year ended September 30, 2007 mainly due to higher-than-projected sales of its stepping motors, optical pickup units and home appliance units. The consolidated operating income forecast has been raised to reflect the said increase in consolidated sales and improved profitability of the electronic component business. The forecasts for consolidated recurring income and consolidated net income have been also raised as a result of the increase in consolidated operating income.
The Company plans to announce its financial forecasts for the year ending March 31, 2008 on October 26, 2007.
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